Camber, Partner Land $50M Loan for Bronx Supportive Housing

Camber Property Group and Westhab have secured approximately $50 million in financing to build a supportive housing development in the Bronx. The project has already begun construction and is expected to be completed by late 2021. The $50 million development will be built at 913 E. Tremont Ave. in the West Farms neighborhood. When completed, the supportive housing building will offer 119 units with 60 percent of the apartments being reserved for formerly homeless residents and the rest designated for low-income individuals and families. Being a supportive and affordable housing building, the project received approximately $20 million of equity invested from the sale of low-income housing tax credits and $30 million in public subsidies from the New York State Housing Finance Agency and New York State Homes and Community Renewal, according to Camber.

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