MORRISANIA REVITALIZATION CORPORATION PORTFOLIO

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” aside from accessibility retrofits, and includes roof and window replacements, boiler upgrades, exterior façade pointing, common area and elevator modernizations, full kitchen and bathroom renovations, and painting of all units. 

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