In January 2012, Acacia began construction on Mosholu Gardens, an eight-story, 63 studio mixed use apartment building in Norwood, Bronx. The units will be set aside for individuals with mental health concerns, community residents and veterans of the Armed Services. The organization received an $8 million dollar low-interest loan and tax credits from the NYC Department of Housing Preservation and Development (HPD) to finance the construction. Other projects in the pipeline include:
Promesa Court is comprised of four buildings with a total of 48 rental apartments. All four of these buildings are undergoing or will undergo a substantial rehabilitation with a projected completion in 2013.
92 West Tremont Avenue is a proposed six-story, new construction multi-family building comprised of 61 rental apartments for low-income seniors ages 55 and over. This building is targeted to begin construction in Mid 2012 with an estimated completion in late 2014.
413 East 120th Street is a proposed eleven-story, new construction residential building comprised of 179 apartments affordable to low-income families. The building will also include commercial space along 1st Avenue and community facility space on the 2nd floor. Acacia anticipates that construction of this building will begin in 2013 with estimated completion - late 2015.
1356 Fulton Avenue is a proposed new construction residential building comprised of 75 studios for rent that are affordable to low-income individuals. This building is scheduled to begin construction in 2013 with estimated completion in 2015.
915 Westchester Avenue is a proposed new construction residential building that will consist of 51 apartments of affordable family housing. This building is scheduled to begin construction in 2012 with projected completion in 2014.
The Third Party Transfer (TPT) Cluster is comprised of four buildings with a total of 63 rental apartments.
All four of these buildings are scheduled to begin a substantial rehabilitation in early 2013 with estimated completion in 2015.
The Tenant Interim Lease (TIL) Cluster is comprised of two buildings with a total of 18 apartments. Both buildings will be converted into cooperatives. This building is scheduled to begin construction in late 2012 with projected completion in 2014.
OUB / Mins is comprised of six buildings with a total of 445 rental apartments.
All six buildings are currently undergoing a moderate rehabilitation with projected completion in 2013.