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Financing Closes for Bronx Seniors Housing Complex

NEW YORK CITY—Located in the borough’s West Farms section, the property is slated to include 167 apartments.

TD Bank seniors housing Rendering-2 Plans for 1880 Boston Rd. include 168 studio and one bedroom apartments for senior citizens.

NEW YORK CITY—Foxy Management, Hebrew Home for the Aged at Riverdale and Alembic Community Development have closed on financing for an approximately $78 million apartment complex dedicated to housing low-income and homeless seniors. The property is located in the West Farms section of the Bronx, at 1880 Boston Rd.

TD Bank provided a combined investment of about $35 million in federal tax credits through the community capital group and a $38 million credit enhancement for the tax-exempt bonds through its commercial real estate group.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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