Developers to invest millions in improvements for West Farms public housing

Posted: Updated:
WEST FARMS -

A cluster of public housing buildings in West Farms has changes on the way.

Two developers joined forces with the New York City Department of Housing Preservation and Development last week to close on a $75 million acquisition in the South Bronx. The project includes two clusters of mid-rise buildings, five buildings along Belmont Avenue and six on East 180th Street.

The deal includes renovations that will cost nothing to the tenants of the development.

"These buildings were going to lose their tax credits next year and therefore the previous owner had an option of increasing the rent at above market rate if he wanted to," says Councilman Rafael Salamanca Jr.

Salamanca says the developers are making a multimillion-dollar investment to fix boilers, elevators, piping, walls and roofs.

The goal for the project is to preserve the affordable housing units and keep the families living in the area.

The Department of Housing Preservation and Development released a statement saying, "We thank our partners at Camber and Belveron for working with us to bring these properties back into the fold as rent-regulated affordable housing, ensuring that hundreds of hardworking families get the improvements they need and the security of knowing that they'll be able to stay in their homes for years to come."

Salamanca ensures that all of the units included in the project will continue to be affordable through 2059.

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