The Doe Fund tops out The Plains - 82,465 s/f multifamily residence

Bronx, NY The Doe Fund, a homeless services nonprofit with a portfolio of transitional, affordable, and supportive housing throughout NYC, celebrated the topping out of its latest real estate development at 4519 White Plains Rd. The nine-story, $48.5 million joint venture — known as The Plains and designed by OCV Architects — is the second The Doe Fund has undertaken with Robert Sanborn Development.

An 82,465 s/f multifamily residence, The Plains will provide 98 deeply-affordable homes to the Wakefield neighborhood, with supportive services for 49 formerly homeless adults living with disabilities and 20 apartments reserved for adults 62 and older. Units will be available to low- and moderate-income individuals and families who meet the income eligibility thresholds of up to 80% of the NYC average median income, with preference given to local residents who are homeless or at risk of becoming homeless. Applications for affordable units will open six months prior to the residence’s completion, which is estimated to be next February, via the NYC Housing Connect lottery. The Doe Fund will deliver housing and clinical case management services to residents, including mental health and medical care.

Residential amenities will include tenant storage, offices for program staff and a multi-purpose room for program and tenant uses alike, as well as 24/7 security and a live-in superintendent. The residence will also feature on-site laundry units, a fitness center and private outdoor recreation space. The Plains is near subway, bus and commuter rail stations.

The building will have a green roof and solar PV array. Additional energy-efficient features will include thermally-broken, triple-glazed, UPVC windows; high-efficiency, electric, variable-rate-flow HVAC systems; Energy-Star, bi-level, LED lighting with motion sensors; Energy-Star appliances; and low-flow plumbing fixtures. Upon completion, the project will seek LEED Gold certification.

Along with a 2019 Empire State Supportive Housing Initiative (ESSHI) award of $1.2m and $2.5m in federal low income housing tax credits, financing for the project comes from public and private sources. HCR approved awards of $2.8m from the Supportive Housing Opportunity Program, $5m from the All Affordable New York City Program and $1.9m from NYS HOME. The Doe Fund obtained private sector construction and permanent loans through Merchant’s Bank, Freddie Mac, and tax-credit equity was syndicated by Richman Housing.

The NYS Homeless Housing and Assistance Corp. awarded $4.9m in capital funding through the Homeless Housing Assistance Program. The Corporation for Supportive Housing also provided a $4m acquisition loan that included funds for pre-development.

“At The Doe Fund, we’re proud to provide multiple solutions to NYC’s homelessness crisis,” said John McDonald, interim president of The Doe Fund. “Our famous Ready, Willing & Able program provides economic opportunity to those experiencing homelessness who can work. Our affordable and supportive housing portfolio, which The Plains will soon join, reaches those whom Ready, Willing & Able cannot — individuals and families who have severe disabilities that prevent them from working — as well as low-income workers at the greatest risk of housing insecurity.

“Topping out at The Plains brings us one step closer to providing desperately-needed, deeply affordable and supportive housing to the Bronx. For the nearly 100 individuals and families who will soon call The Plains home, that means shutting the revolving door of homelessness once and for all,” said McDonald.

“The Doe Fund has been a pillar of supportive housing in New York City for over 30 years, and we are honored to have been part of the recent The Plains transaction in the Bronx,” said Michael Milazzo, senior vice president, originations at Merchants Capital. “As one of the nation’s top affordable housing financiers, we at Merchants are always looking for new ways to serve the housing needs of populations across the U.S. By working with The Doe Fund, we are creating safe, new and supportive housing for nearly 100 of New York’s most vulnerable residents. The Plains will provide a beacon of hope and necessary services to individuals in need. We are grateful for this partnership and are eager to bolster our housing efforts together throughout New York.”

“Robert Sanborn Development is excited to be a partner in the development of The Plains, our second collaboration with The Doe Fund,” said Robert Sanborn. “The Plains represents our continued commitment to developing thoughtfully designed, state-of-the-art homes with integrated services; a comfortable environment with available services that will enhance the lives of all residents. We congratulate The Doe Fund on this latest supportive housing endeavor.”