Ogden Theater Apartments

Organization Name: NCV Capital Partners & Unique People Services

Project Title: Ogden Theater Apartments

Project Location: Highbridge, Bronx, NY

Project Description:
Ogden Theater Apartments (OTA) will be a seven-story passive house building comprised of 85-units with a mix of studio, one-, two-, and three-bedroom apartments. On-site building amenities include a social service suite, landscaped terrace, tenant recreation area, laundry facility, and an on-site resident superintendent. The financing for Ogden Theater Apartments includes an equity investment from Redstone Equity Partners and is supported by several key program and lending partners, including a construction loan from JP Morgan Chase, the New York City Department of Housing Preservation & Development (HPD) through both the 9% Low Income Housing Tax Credit (LIHTC) program and Supportive Housing Loan Program (SHLP), New York City’s Capital Grants Program, the HPD/NYSERDA Future Housing Initiative Program, Federal Home Loan Bank of New York AHP General Fund Grant, as well as a Freddie Mac permanent loan at conversion through M&T Bank.

Community Impact:
Ogden Theater Apartments is being developed in conjunction with Unique People Services (UPS) to provide a home and supportive services to persons with special and challenging needs and their families. All 85 units in Ogden Theater Apartments will be affordable to residents earning 60 percent or less of the Area Median Income (AMI), ensuring that these homes remain accessible to those who need them most. The mission is to serve those who may have been denied compassionate and considerate treatment elsewhere due to their race, religion, gender, sexual orientation, developmental level, health status, criminal or substance abuse history. Our service plan focuses on the social, medical, psychological, mental health housing stability, financial security and substance abuse needs of the head of household. The Ogden Theater Apartments aims to uplift low-income families by providing affordable housing and tailored support services that address their diverse needs. This initiative fosters community impact by promoting stability, enhancing quality of life, and ensures that marginalized individuals receive opportunities for independence.

Organization Description:
NCV Capital Partners is a Harlem-based real estate advisory and development firm engaged in the acquisition, financing, and development of commercial real estate. To date, NCV has closed over $400 Million dollars in affordable housing development in New York City. We work with nonprofit and other community groups to maximize financial resources to create quality housing in underserved communities.

Team Members:

Keith Gordon - Managing Member
Leonor Laboy - Junior Project Manager
Jonathan Torres - Acquisitions Associate
Sarahi Albornoz - Development Analyst
Jerrod Delaine - Senior Advisor