Muller Residential Job Training Center

Investment

  • NMTC Amount: $30,260,000
  • Total Project Cost: $30,260,000

IMPACT

  • 75 FTE jobs
  • 40 construction jobs

Investor

Project Description

Redevelopment of Army Reserve Center for use as a 200-bed residential job training facility for the homelessTransitional Housing Job Training Facility for Homeless. The Muller Residential Job Training Facility is a $15.5 million dollar tax-credit project that will provide housing and support for the homeless by the Doe Fund. The Doe Fund is a New York nonprofit organization whose mission is to develop holistic programs to break the cycles of homelessness, addiction and criminal recidivism.

The development of the residential job training center is situated at a former Bronx Army Reserve center. The 55,000 square foot facility will help and serve 200 homeless individuals at any given time by providing them with education and occupational training, group counseling, job placement and transitional work and housing.

Funding sources for this project include $9.5 million NMTC financing provided by Citibank NMTC Corp, along with $6 million of NMTC allocation provided by DV Community Investment LLC. Citibank also provided $4.8 million of NMTC equity, a $10.7 million leverage loan, and a $4.9 million direct loan to the project.

MAP

Address: 4449 Bronx Boulevard, Bronx, NY 10470

Census Tract: 36005041400

Other New York Projects

Financing for a community health care facility.
The renovation of 28,000 sq. ft. of existing space and the construction of 27,000 sq. ft. of new space, designed to meet LEED Gold standards.

NMTC financing for a food distribution facility, Foodirect Inc., a full-service food distributor that has been family-owned and operated since 1944. The company stocks over 5,000 unique food products and

Warehouse space on a Lower East Side pier becomes a new athletic facility and public waterfront esplanade.