TD Bank announced it has closed on an $18.4 million construction loan to help build housing for low-income seniors and very low- and moderate-income families in New York City.
The 111,000-square-foot building is being developed by MHANY Management (MHANY) and We Stay/Nos Quedamos (Nos Quedamos) and is the second phase of Phoenix Estates, a new eight-story, mixed-use building in the Hunts Point neighborhood of the Bronx.
The latest 180-unit phase will include a common laundry area, a garden, a bicycle storage, and recreation space. The first floor will be a dedicated community facility, which will be used to host classes, including financial literacy programs, for residents.
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