Park Avenue Green

Organization Name: Omni New York LLC

Project Title: Park Avenue Green

Project Location: Melrose, Bronx

Project Description:
Park Avenue Green is the second phase of Omni New York LLC’s mixed-use affordable housing project, in the Melrose neighborhood of the Bronx. Financing was provided by the New York City Housing Development Corporation (HDC) and the New York City Department of Housing Preservation and Development (HPD), and credit enhancement by Bank of America. The 15-story, 154-unit building caters to a range of incomes including 50%, 60% and 80% of AMI, together with a set aside of 46-units for formerly homeless households to be filled through the Our Space Program. The project features a community facility composed of approximately 4,000 sqft of affordable studio and gallery space for local artists and a 150-camera DVR-security system to enhance safety throughout the premises. Park Avenue Green deploys cutting edge, environmentally friendly design concepts and building systems, and is a certified Passive House complex. Passive House standards dramatically reduce the building’s energy consumption and carbon footprint. Additionally, Park Avenue Green employs PV panels and a cogeneration microturbine, effectively lowering utility costs through on-site energy creation and improved air quality.

Community Impact:
Omni has partnered with BronxWorks, a premiere service provider in the South Bronx, and part of HPD’s Our Space initiative, to enhance the lives of 46 formerly-homeless families residing at Park Avenue Green. Through outreach and engagement, housing retention specialists introduce these tenants to building staff in order to promote long-term stability through enhanced communication. By conducting assessments and follow-ups, BronxWorks case managers monitor formerly-homeless residents’ economic, social, mental and physical wellbeing and provide referrals to internal programs or external organizations for further assistance when necessary. Omni has also provided Spaceworks with a mixed-use creative arts space, located on the ground floor of Park Avenue Green, which features 15 studios, an exhibition space, and community project space. Spaceworks is a nonprofit that builds and operates spaces for artists (particularly artists of color, LGBTQIA artists, disabled artists, and those living on low to modest incomes), cultural workers, creative entrepreneurs, and cultural organizations. Together, Omni and Spaceworks continue to support the economic wellbeing and sustainability of the existing community.

Organization Description:
Established in 2004, Omni New York LLC is a fully integrated affordable housing company consisting of development, construction, security, maintenance and property management businesses. Since its inception, Omni and its affiliates have acquired, rehabilitated and developed 71 properties (over 14,300 units) with an aggregate value over $2.1 billion. Managed by its principals Eugene Schneur, Robert Bennett and Mo Vaughn, Omni was named “Private Developer of the Year” in 2017 by New York Housing Conference and continues to lead the industry by example.

Team Members:

Omni New York LLC, Architect: Curtis + Ginsberg Architects LLP, Monadnock Construction, Inc.,
Bright Power, Inc., NYC HPD, NYC HDC, Bank of America, N.A., and Alliant Capital, Ltd.