THE BRONX - A major makeover is on the way for residents in Co-op City after officials locked in a $621 million loan.

Mayor Michael Bloomberg, Gov. Andrew Cuomo, the Department of Housing and Urban Development (HUD) and Wells Fargo announced the deal, saying the money will go toward renovations and helping to keep costs low for tenants.

Residents say they're glad that affordable housing is being ensured for 35 more years.