Councilman Salamanca, HPD restore 343 affordable housing units in the South Bronx

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SOUTH BRONX -

On Wednesday, more than 300 apartment units were restored and will now remain as affordable housing after two developers worked alongside the HPD and Councilman Rafael Salamanca Jr.

Just last week the New York City Department of Housing Preservation and Development closed on a $75 million deal acquisition of an 11-building, 343-unit portfolio in the South Bronx.

Councilman Salamanca is determined to help the current tenants move forward.

“These buildings were going to lose their tax credits next year and therefore the previous owner had an option of an increasing rent at above market rate,” says Councilman Salamanca “They're making a $4 million capital investment, so there's boilers that need to be fixed, there's elevators that need to be redone, you have piping, the walls, roof so it needs to be done.”

Officials say all the units included in this preservation project will continue to be affordable for the next 40 years.

The goal is aimed at keeping the families from being displaced.

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