The Eliza, a mixed-use development in Inwood, northern Manhattan, includes the demolition of the Inwood branch of the NYC Public Library, the construction of a new state-of-the-art library and the creation of 174 units of affordable housing. The project includes the creation of a Pre-K in partnership with the NYC Department of Education and approximately 8,000 square feet of space for after-school, training and educational programs. The Eliza required rezoning to increase its height and size and careful coordination with the Metropolitan Transit Authority, the Department of Planning, the Department of Buildings and the Department of Housing Preservation and Development, and extensive conversations with elected officials, community leaders and residents.

The project team hosted a ribbon-cutting event on July 15, 2024, which was attend by HPD & NYCHA, as well as Bronx Borough President Vanessa Gibson, Deputy Speaker and Councilmember Diana Ayala, and representatives from BNY, NEF, Lemle & Wolff, Alembic Community Development, and The Bridge.

Financing

NYC Housing Development Corporation tax-exempt bonds & soft second mortgage programs; 4% Low Income Housing Tax Credits syndicated by Raymond James; NYC Department of Housing Preservation & Development Extremely Low and Low-Income Affordability program; NYC Housing Investment Funds; Robin Hood Foundation; TD Bank; NYC Councilmember Ydanis Rodriguez; Manhattan Borough President Gale Brewer