Minority-owned firm uses city program for affordable housing project

A new affordable housing building is coming to the Bronx with the help of a city program that intends to give minority-owned businesses a leg up.

Robert Horsford, president of the black-owned Apex Building Group, was raised in the Bronx and says the project on Fulton Street is special to him.

"To have the opportunity to work on a project that we can provide affordable housing to this community has been an excellent opportunity," he says.

That opportunity is partly made possible by Emerging Developer Loan Fund, a city program aimed at helping minority- and women-owned business enterprises, also known as MWBEs. It gives MWBEs access to a city pool of $70 million, with Apex receiving $1.2 million to kick-start the project.

The project will have 25 affordable units -- eight for homeless veterans, 12 for low-income occupants, four for moderate-income tenants and a "super's unit."

The project is expected to be completed in June 2019.