OGDEN THEATER APARTMENTS

New Development of Affordable Housing
DEVELOPMENT / FINANCING  / ACQUISITION  / NEW CONSTRUCTION
THE BRIEF

Ogden Theater Apartments is a new-construction highly sustainable residential building being developed by NCV Capital Partners in the Highbridge neighborhood in the Bronx. The Ogden Theater Apartments (OTA) project is a seven-story passive house building comprised of 85-units with a mix of studio, one-, two-, and three-bedroom apartments. On-site building amenities include a social service suite, landscaped terrace, tenant recreation area, laundry facility, and an on-site resident superintendent.

WHAT WE DID

NCV Capital leveraged its expertise throughout the multi-stage pre-development process, overseeing the procurement of the Attorney General’s approval for the sale of this site, acquisition and pre-development loan, capital raising from several funding sources both public and private, design and pre-construction phase. Ogden Theatre Apartments construction loan closing and breaking ground is anticipated in Q3 of 2024. Funding sources include HPD’s 9% Low Income Housing Tax Credit (LIHTC) program, HPD’s Supporting Housing Loan Program (SHLP), New York City’s Capital Grants Program. HPD / NYSERDA Future Housing Initiative Program (FHI), NYS Homeless Housing Assistance Program (HHAP), Federal Home Loan Bank of New York, and Bank of New York.

PROJECT INFORMATION

Preserving multifamily housing for decades to come

Read the newly released press article 

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