**Renova West Secures $193M in Financing for Sustainable Affordable Housing in the Bronx**
Gilbane Development, the Institute for Community Living (ICL), Tredway, New York City’s Department of Housing Preservation and Development (HPD), and the City’s Housing Development Corporation (HDC) have successfully secured $193 million in financing for Renova West—a transformative mixed-use affordable housing development in the Morrisania neighborhood of the Bronx.
Located at 860 Concourse Village East, the 19-story project will include both supportive and affordable housing components, as well as a new ICL Bronx Health Hub to serve the surrounding community.
City funding for Renova West includes a $48.5 million loan from HPD’s Supportive Housing Loan Program and a $17.3 million subsidy loan from HDC. The project combines city housing programs, tax credit equity, and private investment to provide deeply affordable residences, onsite services for residents, and a sustainable, all-electric building design.
The New York State Energy Research and Development Authority has recognized Renova West through its Buildings of Excellence program, highlighting it as a model for sustainable, affordable housing in New York City.
