Morris Avenue Apartments is a new construction project located in the Melrose neighborhood of the Bronx. The property consists of 176 residential multi-family units, approximately 9,500 SF of ground floor retail space and 8,500 SF of community facility space. 35 of the residential units are set-aside for formerly homeless tenants. Omni New York LLC closed on the financing for the acquisition and construction of the property in June 2014 with financing provided by the New York City Housing Development Corporation (“HDC”), the New York City Department of Housing Preservation and Development (“HPD”), and Bank of America. HDC provided financing through the issuance of tax-exempt bonds. HPD provided subsidy funds and low-income housing tax credits and Citibank provided subordinate financing.
This project will achieve LEED Silver Certification, and meet the requirements of Enterprise Green Communities Certification by using sustainable materials throughout the building. Construction of the 15 story building cost approximately $43.8 million and incorporated both Solar panels and a clean microturbine cogeneration unit. The microturbine unit will allow the Project to produce enough electricity to power the common areas and at the same time satisfy the domestic hot water requirements. Furthermore, the microturbine unit will act as a backup emergency generator for this Project. Additionally, Energy-Star rated appliances and light fixtures will be installed within each unit and in all common areas. Water saving fixtures for showers, sinks and water closets will be used. Recycling and bicycle rooms will also be provided. A green roof will also be installed on the second floor roof. An extensive DVR-security camera system with approximately 200 cameras will be installed throughout the buildings to ensure safety.
Additional building amenities include a Community Room, Laundry Room, On-site Vehicle Parking (additional fee), Bike Parking, State of the art Facial Recognition Building Access, Live in Superintendent, Professional On-Site Management & Responsive Maintenance Team.