NEW YORK CITY — NCV Capital Partners and Unique People Services have broken ground on Ogden Theater Apartments, an 85-unit affordable housing development in the Highbridge neighborhood of the Bronx. Total capitalization for the project is $66 million.
Located at 1415 Ogden Ave., Ogden Theater Apartments will feature 51 units of supportive housing for formerly homeless individuals, as well as 34 units for households who receive assistance paying rent through the Housing Choice Voucher program or who are earning at or below 60 percent of the area median income.
Amenities will include two elevators, an indoor recreation room, outdoor recreation space, laundry room, bicycle parking and a video intercom security system. The property will also include approximately 2,000 square feet of ground‐floor space, which will be dedicated to social services for residents of the supportive housing units.
Aufgang Architects designed the community.
The project team is developing the property through a public-private partnership with HUD, the NYC Department of Housing Preservation and Development and the Department of Mental Health and Hygiene. Funding sources for the project include Low Income Housing Tax Credits and HPD’s Supportive Housing Loan Program, as well as private equity.