NCV, Lemor and Mount Hope Housing Company are partnering to upgrade 515 units
By Mary Diduch | January 14, 2019 02:45PM
Clockwise from top left: 200 Morris Avenue, 1975 Walton Avenue, 184 Walton Avenue, and 61 East Tremont Avenue in the Bronx with NCV Capital Partners’ Keith Gordon (Credit: Google Maps)
Thirteen affordable housing apartment buildings in Mount Hope are getting a facelift.
NCV Capital Partners and Lemor Development Group have teamed up with landlord Mount Hope Housing Company on the project, which is being called the “Mount Hope Renaissance.” The properties hold 515 units and span East 175th Street and East Burnside Avenue.
The buildings have been under the nonprofit Mount Hope Housing Company’s ownership and management for years but are in need of capital improvements and repositioning. The partnership secured nearly $100 million in debt and equity to fund the rehab, according to a press release.
The rehabilitation is expected to start this quarter and includes kitchen and bathroom renovations and energy-efficiency improvements.