Governor Kathy Hochul today announced the completion of Tremont Residences, a $50.6 million affordable housing development in the West Farms neighborhood of the Bronx. The new development of 119 apartments offers on-site services to people experiencing homelessness who need help to live independently.
“The completion of this 119-unit development means dozens of Bronx residents and families will have a safe, stable place to call home and the comprehensive services they need to thrive,” Governor Hochul said. “This project complements our $25 billion housing plan by not only providing high-quality affordable housing, but also creating strong, vibrant and resilient communities.”
Tremont Residences complements Governor Hochul’s sweeping plans to make housing more affordable, equitable and stable. In the State Budget for Fiscal Year 2023, the Governor introduced and successfully secured a comprehensive new five-year, $25 billion housing plan that will increase housing supply by creating or preserving 100,000 homes homes in New York, including 10,000 with support services for vulnerable populations, plus the electrification of 50,000 additional homes.
Tremont Residences has 95 studios, 14 one-bedroom apartments, and 10 two-bedroom apartments that are affordable for households with incomes between 30 and 60 percent of the area’s median income.
Developers, Camber Property Group and Slate Property Group, have partnered with Westhab, Inc. to provide onsite support services to 71 households funded through an Empire State Supportive Housing Initiative award administered by the Bureau of New York State Mental Health. Services include case management, employment preparation, job placement, retention, referrals and mental health services. Housing rental subsidies are also included as part of the Empire State Supportive Housing Initiative funding by the Office of Mental Health.
A vacant one-story commercial building was demolished to make way for the new 11-story building. Development amenities include a suite of social services offices for residents, a landscaped outdoor recreation area, full-time security, a 1,300 square foot community hall, fitness center, computer lab, lounge reading room, bike storage and laundry rooms on each floor.
The ground floor houses a 6,500 square foot commercial space owned by a third party and currently available for lease. The project is located in a mixed-use, transit-rich area, close to medical facilities, schools, shopping, and within walking distance of Crotona Park and Bronx Park, the Botanical Garden, and the Fordham University.
Tremont Residences meets Enterprise Green Communities standards and includes Energy Star appliances, solar panels, water conservation appliances, low VOC finishes and coated windows. Insulation and cladding and roof materials are designed to be energy efficient.
State funding for Tremont Residences includes $8.4 million in permanent tax-exempt bonds, federal low-income tax credits that will generate $17.3 million in equity and $20.5 million dollars in grant funding from New York State Homes and Community Renewal. OMH provides nearly $1.8 million in annual ESSHI operating funding for supportive housing and a total of $479,544 in program development grant funding.
Over the past five years, New York State Homes and Community Renewal has invested more than $1 billion to create or preserve nearly 7,500 affordable apartments in multi-family buildings in the Bronx.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said: “The new $51 million Tremont Residences with its 119 affordable apartments are proof of the state’s ongoing commitment to improving the quality of life in the Bronx. Every development we invest in under the housing plan of Governor Hochul revives and strengthens neighborhoods and provides new opportunities for residents.Through our partners, Tremont Residences provides support services to 71 people who no longer face homelessness and are instead on the path to a more stable and rewarding future.
New York State Office of Mental Health Commissioner Ann Sullivan said: “The 71 supportive housing units at Tremont Residences will provide a welcoming home, stability and safety for people living with mental illness. In addition to providing mental health services, trained staff will help residents find and keep jobs, manage finances, connect with support groups and continue their education. In short, residents will have the opportunity to live full and productive lives in their community. The OMH is very proud to partner with HCR and support Les Résidences Tremont.
State Senator Luis R. Sepulveda said: “Every new home in our Bronx community brings us happiness. Tremont Residences is not just a home, it’s not just a building. Today I was present at their groundbreaking ceremony and I heard the same phrase from some of their residents: ‘Now I have a house.’ As a senator, I can explain everything about the process of having these developments, I can explain how much and how it is changing our communities for the better, but there is no better explanation for my joy and of the impact it has on a person’s life when they say they have a home. I thank everyone who made this dream a reality, government offices and the private sector, and especially New York State Homes and Community Renewal.
Assembly member Karines Reyes said: “Tremont Residences is a great example of the kind of housing we need more of in this city. Providing permanent, affordable housing for formerly homeless people is a vital lifeline that too few people have access to. Camber Property Group, Slate Property Group and Westhab have created an incredible community where residents of Tremont can call home.As an advocate for affordable housing, I firmly believe that a home, in our borough and in our city, should be a standard and not a privilege.
Bronx Borough President Vanessa L. Gibson said: “Every New Yorker has the right to affordable, quality, and safe housing that enhances their lives and builds strong communities. As we work to address our current homelessness crisis, I am grateful that Tremont Residences provides mixed-use supportive housing, wrap-around services and amenities to meet the needs of our most vulnerable residents.I would like to thank Governor Hochul, New York State Homes and Community Renewal, the New York State Office of Mental Health, Camber Property Group, Slate Property Group, and Westhab, Inc. for their commitment to reducing housing insecurity in our borough.”
New York City Council Member Rafael Salamanca said: “At a time when the city’s need for permanent housing for formerly homeless people has reached a critical point, the news that the Tremont Residences will open their doors to vulnerable New Yorkers and low-income families is greatly welcomed by community. With units being marketed at less than 60% AMI and fully serviced for residents who need extra assistance, Tremont Residences will be an oasis for New Yorkers. Thank you Camber Property Group, Slate Property Group and Westhab, Inc., for their continued partnership in building affordable, dignified homes for the people and families who need it most.”
David Schwartz, co-founder and director of Slate Property Group, said: “For New Yorkers to thrive, we must ensure they have access to the high-quality affordable housing they deserve and the supportive services and resources that can help our most vulnerable neighbors succeed. The Tremont Residences are an impressive example of this vision. We deeply appreciate Westhab, Camber Property Group, our government partners and all the local leaders who have helped make these new homes and services a reality. We are especially grateful to the new residents of Tremont Residences who embody everything that makes the Bronx a vibrant, resilient community – welcome home. »
Rick Gropper, Principal at Camber Property Group, said: “Tremont Residences is a remarkable collaboration of civic-minded developers and service providers that provides much-needed affordable housing and comprehensive support services to residents who need it most,” said. “Every corner of our city must be part of the solution to the housing crisis, and I am proud to have worked with Slate, Westhab, UNHCR, elected officials and other community actors to bring so many new affordable homes to the Bronx.”
Richard Nightingale, President and CEO of Westhab, Inc., said: “Westhab is proud to be part of the Tremont Residences development team which provides 119 high quality permanent affordable housing units to the community, including 71 fully integrated supportive housing units for formerly homeless households. Westhab is delighted to provide ongoing tenant services to ensure that all of our residents thrive in permanent housing.”