Funding will help create more than 700 new affordable units throughout The Bronx

Bronx Borough President Ruben Diaz Jr. has announced that his office has allocated more than $3 million in capital funding to five developments in The Bronx, creating more than 700 new units of affordable housing in neighborhoods throughout the borough. The funding is allocated as part of the borough president’s FY2019 fiscal budget.

“Keeping this borough affordable, and the development of new affordable housing units, has been a priority of mine from the day I first took office. My office continues to showcase its commitment to affordability through our capital grants,” said Bronx Borough President Ruben Diaz Jr. “Through this funding we will help a wide-range of individuals find and keep an affordable home so that they can keep their families right here in The Bronx as we undergo a positive transformation.”

Since taking office in 2009 Borough President Diaz has invested $54,929,000 in capital funding towards affordable housing across The Bronx, leveraging that funding to create 8,491 new units.

This year, Borough President Diaz is providing funding to five housing projects through his capital budget, creating a total of 719 new units of affordable housing. This includes $800,000 towards the creation of new affordable housing at The Peninsula, located at the former site of the Spofford Juvenile Detention Center; $750,000 for 173 units at Williamsbridge Gardens, including 52 units for formerly homeless families at the lowest income levels; and $500,000 for 122 units of affordable housing for seniors in Highbridge, in partnership with Volunteers of America.

Since the borough president took office in 2009, a total of 36,437 residential units have also been constructed in The Bronx, with 58 percent of those (21,157) having been developed with government subsidies.

“We understand our borough residents’ need for affordable housing as the cost of living in the city continues to rise,” said Borough President Diaz. “The largest number of requests we receive in my office is from constituents in need of housing assistance. Funding for these projects is imperative in addressing our residents’ needs. That’s why making these type of investments is so important to me, as we continuing to build on the successes we have achieved recent years.”

This year, Borough President Diaz’s office has provided $23,250,000 in total capital dollars across 81 projects. Since coming to office in 2009, Borough President Diaz has provided $271,897,000 in total capital funding to 806 projects.

A complete list of Borough President Diaz’s capital funding allocations in housing for FY2019 can be found at https://on.nyc.gov/2KebPh7.