Kalel Companies, together with non-profit owner Morrisania Revitalization Corporation, is leading the acquisition and substantial rehabilitation of 311 residential units situated across 18 buildings in the Morrisania neighborhood of the Bronx, NY. Improvements are scheduled to be completed with tenants “in place,” except accessibility retrofits, and include roof and window replacements, boiler upgrades, exterior façade pointing, common area and elevator modernizations, 100% rehabilitation of apartment kitchens and bathrooms, and painting of all units. 

Financing sources are expected to include a permanent loan and capital subsidy from HPD.