Financing Arranged for 180-Unit Development in the Bronx

TD Bank announced it has closed on an $18.4 million construction loan to help build housing for low-income seniors and very low- and moderate-income families in New York City.
The 111,000-square-foot building is being developed by MHANY Management (MHANY) and We Stay/Nos Quedamos (Nos Quedamos) and is the second phase of Phoenix Estates, a new eight-story, mixed-use building in the Hunts Point neighborhood of the Bronx.
The latest 180-unit phase will include a common laundry area, a garden, a bicycle storage, and recreation space. The first floor will be a dedicated community facility, which will be used to host classes, including financial literacy programs, for residents.
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The streets of Melrose rang out with the sound of music, children’s cheer, and applause as We Stay / Nos Quedamos celebrated it 2nd annual WE ARE MELROSE street fair. Hundreds gathered to join the community-wide celebration that brought together a multicultural patronage that reflected the region’s diversity in aptly themed event — “COMÚN-UNIDAD: Common Unity = Community.”
The cultural programming echoed that maxim with performances by poets and cultural groups representing Puerto Rico, Mexico, Honduras and West Africa, a sample microcosm of the neighborhood’s ethnic makeup. A special carnival-like treat was provided area resident Roberto Velásquez, AKA “The Real Iceman,” as he dunked himself in a tank of water filled with ice cubes. And while onlookers felt a chill up their , it didn’t stop them from delighting in the icicles provided by event sponsor Delicioso Coco.
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