Center Development Corporation
Daly Four is a seven-building affordable rental project located in the South Bronx. These buildings were rehabilitated with a scope that included new roofs, windows, masonry repairs, new boilers, electrical fixtures, and access control and video surveillance systems. Working with the tenants in place, the units received new kitchens and bathrooms, upgraded electrical service, new room and closet doors, and selective flooring replacement. Affordability was maintained through the use of tax-exempt mortgage revenue bonds, four-percent tax credits, an Article 11 tax abatement, and Section 8 rental subsidies.
Cost: $31 million