Development—Pleasantville, New York
The Pleasantville Housing Development Fund Company (PHDFC), a community based non-profit that works closely with the Village of Pleasantville on affordable housing issues, identified a serious community need for low-income housing for seniors. The PHDFC obtained site control of two key parcels in the downtown within a short walking distance from most of the Village's services, including its Metro North train station. With limited housing experience and no working capital, PHDFC approached Jonathan Rose Companies for assistance.
Jonathan Rose Companies helped the PHDFC obtain much needed seed money, managed the design and construction process, obtained construction and permanent financing that including an allocation of Low Income Housing Tax Credits from the New York State Department of Housing and Community Renewal. In addition, important subsidy funding was obtained from the County of Westchester (HOME, CDBG, Section 8 vouchers and Land Acquisition Funds) and the Federal Home Loan Bank of New York Affordable Housing Program. The construction loan was funded by JP Morgan Chase Bank and the tax credit equity was provided by the Enterprise Social Investment Corp.
The building consists of 22 one-bedrooms and 2 two-bedroom apartments. The town of Pleasantville operates its senior citizens recreation and nutrition center in the build-to-suit 6,000 square foot ground floor commercial space. Residents of the apartments as well as seniors from other parts of the town benefit from a range of supportive services and activities in the building. AHDC introduced a variety of green building techniques in the building including; blown-in cellulose insulation, large south facing windows with high performance low-e glass; energy efficient roof-top air conditioning for the senior center; low-VOC finishes in the apartments; waterless urinals; Energy Star appliances, and high efficiency lighting. Because the building is located near mass transit, tenants do not usually need a car and only five parking spaces were required.
Development of an affordable senior citizens center complete with on-site community services including; nutrition, health screenings, and other activities
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