Strada is proud to have worked on two deals that closed in December 2023

Strada Ventures LLC is proud to have assisted a for-profit BIPOC New York State development company close on their first two LIHTC transactions on their own, without a development partner.  The first project closed in December 2023 and consists of the new construction of a 6-story, 24-unit affordable development in the Melrose section of the Bronx.  Financing for the project came from a private loan from US Bank, HPD funding through the Neighborhood Construction Program (NCP), and a loan from the Federal Home Loan Bank of New York (FHLBNY).    

The second project — closed in 2023 — consists of rehabilitating a 5-building, 122-unit affordable preservation development in West Harlem.  Financing for the project came from a private loan from Webster Bank, an HPD Capital Subsidy, and a New York State Energy Research & Development Authority (NYSERDA) grant.