Tiebout Green

2311 Tiebout Ave, Bronx, New York 10175

Tiebout Green Details

  • 20 units.
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • Community Room

About Tiebout Green

LIIF provided Fordham Bedford Housing Corporation (FBHC), a northwest Bronx community organization with a 30-year track record of affordable housing development, with a $4.8 million construction loan to acquire a vacant city-owned lot and develop a new energy-efficient affordable rental property. The new development, Tiebout Green, will be a seven-story, 20,000-square-foot building with a rear courtyard, green roof garden terrace and community room. Featuring a mix of one- and two-bedroom units, Tiebout Green will increase the stock of affordable housing options for the Bronx’s fast growing population. The construction financing included a $1 million subordinate loan from the New York City Department of Housing Preservation and Development Low Income Program (LIP) and $5.6 million in federal Low Income Housing Tax Credit equity. LIP ensures that all units will be affordable to households earning up to 60% of AMI and reserves some units for families earning 40% of AMI or the formerly homeless.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

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