The Bridge Building was developed and operates with Federal housing financing.
The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.
Low Income Housing Tax Credit
The property was developed using the Low Income Housing Tax Credit Program.
This program incentivizes investors to inject capital into rental apartments for lower income Americans.
The property received a tax credit allocation in 1991.
The property was placed in service in 1991.
15 of 15
units at The Bridge Building are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was located in
a Qualified Census Tract qualifying it for additional tax credit financing.
The Bridge Building is an affordable apartment community located in New York City, New York
which is located in New York County.
The property is located in New York's 13th Congressional
District served by Representative Adriano Espaillat (D),
Senator Charles Schumer (D) and Senator Kirsten Gillibrand (D).
The Bridge Building is an apartment community containing 15 rental units.
The property contains 20 bedrooms and based on typical apartment occupancy limits, The Bridge Building
is home to not more than 35† persons when fully occupied.
This property does not provide any Federal rent subsidies to renters
reducing total tenant payments to 30% of their adjusted income. Renters are required to
pay the full rent, even if it is in excess of 30% of their income. In some cases the
property may accept Section 8 Housing Choice vouchers.
The Bridge Building contains a mix of 15 assisted
one and two bedroom apartments for rent. There are 10 One Bedroom and 5 Two Bedroom apartments in this property. The unit mix is 67% One Bedroom and 33% Two Bedroom apartment rentals. The average bedroom size for The Bridge Building is 1.33.