Read about our work with local partners in New York.
This LEED Platinum, transit-oriented development includes 500 units of affordable and supportive housing.
Kings County Hospital Center partnered with CAMBA Housing Ventures to develop a previously underutilized portion of its medical campus.
CAMBA Gardens is one of the first affordable housing deals financed under Mayor Bill de Blasio’s Housing New York Plan.
Supportive services available to residents include case management, health and wellness programs, job training, and family services.
Residents benefit from readily accessible health care at the medical campus.
The double-height lobby in each building features public art from local artist Ruggero Vanni.
The complex features a computer room, teaching kitchen, and a multi-purpose room where staff host programming related to financial literacy, healthy living, job training, and family services.
Enterprise Community Loan Fund, Inc. (ECLF) provided approximately $2 million in predevelopment financing for both phases of CAMBA Gardens. ECLF’s lending was bolstered by an additional $68 million in Enterprise financing through Low-Income Housing Tax Credit equity, as well as grant support.
This $52 million project preserves 360 affordable homes in an area hit particularly hard by Hurricane Sandy.
Ocean Towers, in the Coney Island section of Brooklyn, was originally constructed under the Mitchell-Lama Program in 1973.
The purchase and rehabilitation of the property was funded with $10 million of equity from the Community Development Trust and Proto Property Services and a $35 million acquisition loan originated by Enterprise Community Loan Fund.
This development, which brings the property back into rent stabilization, sets a precedent for the future development of resilient, environmentally responsible affordable housing in storm-prone regions.
Managed by Forsyth Street Advisors, this development represents an unprecedented collaboration among Enterprise, the City of New York, major foundations, and New York’s public and private community investment groups to provide flexible capital for acquisition and pre-development costs to create and preserve affordable housing.
Enterprise also provided a $1 million loan from Enterprise’s Bank of America Energy Efficiency Loan Program.
Urban Health Plan
Urban Health Plan is scheduled to open April 2014.
This new, state-of-the-art, 54,000 square foot health center allows Urban Health Plan to care for an additional 20,000 South Bronx residents.
Urban Health Plan is a network of federally qualified community health centers whose mission is to improve the health status of underserved communities. Urban Health Plan is one of the largest federally qualified health centers in New York City.
The facility was financed through a grant from the American Recovery and Reinvestment Act, the New York City Council, Bronx Borough President Ruben Diaz, Jr., State Senator Ruben Diaz and new market tax credits (NMTC).
The new development houses Urban’s adult medicine, walk-in, pediatrics, behavioral health and OB/GYN departments as well as a gym for patients and a demonstration kitchen designed by the chefs of the renowned Canyon Ranch Health Resort.
The combined $37.8 million NMTC transaction was structured with funds from Enterprise, the Nonprofit Finance Fund and Stonehenge Community Development. Goldman Sachs provided NMTC equity to the project as well as debt financing.
CAMBA Gardens is a two phase project. Phase I was completed in October 2013. Phase II is currently in progress.