Rendering of 1325 Jerome Ave.
The Doe Fund recently celebrated a topping-off ceremony for its latest real estate development at 1325 Jerome Ave. in the Mt. Eden neighborhood of the Bronx. The project, a $100-million joint venture with Bolivar Development, LLC, will create 255 new affordable and supportive units utilizing state, city and local funds.
Designed by GF55 Partners, the project will include 187,000 square feet of contemporary residential space comprising 82 studio units, 92 one-bedroom units, 53 two-bedroom units, 27 three-bedroom units, and one live-in superintendent unit. The development will also include 26,000 square feet of retail that will be separately financed and managed.
The project’s multiple public/private funding sources include federally tax-exempt bonds issued by the New York State Housing Finance Administration with additional funding from NYS Supportive Housing Opportunity Program as well as a letter of credit from M&T Bank and low-income housing tax credits via Raymond James Tax Credit Funds.