100% Affordable Project Launches in Bronx’s Highbridge Neighborhood

Construction has begun on an Aufgang Architects-designed 100% affordable community that includes supportive housing in the Highbridge section of the Bronx. The 85-unit Ogden Theater Apartments, located at 1415 Ogden Ave., will include 51 units of supportive housing for formerly homeless and 34 units for Section 8 residents and those earning at or below 60% of Area Median Income. Total capitalization is $66 million.

An existing building on the site was demolished. Formerly a movie theater, it was later used as a bowling alley and a church.

NCV Capital and Unique People Services are co-developing Ogden Theater Apartments through a public-private partnership with the U.S. Department of Housing and Urban Development, the NYC Department of Housing Preservation and Development and the Department of Mental Health and Hygiene. Financing for the project involves Low-Income Housing Tax Credits and HPD’s Supportive Housing Loan Program, as well as private equity.