{"id":939478,"date":"2026-07-16T19:32:25","date_gmt":"2026-07-16T19:32:25","guid":{"rendered":"https:\/\/www.europesays.com\/us\/939478\/"},"modified":"2026-07-16T19:32:25","modified_gmt":"2026-07-16T19:32:25","slug":"catholic-homes-secures-147m-construction-loan-for-bronx-housing-development-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/939478\/","title":{"rendered":"Catholic Homes Secures $147M Construction Loan for Bronx Housing Development \u2013 Commercial Observer"},"content":{"rendered":"

An affiliate of the Roman Catholic Archdiocese of New York<\/a><\/b> just secured construction financing for a housing development at 484 East 178th Street<\/b> in the Bronx\u2019s Tremont neighborhood.<\/p>\n

Catholic Homes<\/a><\/b>, a nonprofit dedicated to developing and managing affordable housing for families and seniors, received a $146.9 million construction loan from the New York State Housing Finance Agency<\/b> to bring 251 new units to the site, according to property records<\/a>. The site at the corner of East 178th Street and Washington Avenue is currently a vacant lot.<\/p>\n

SEE ALSO: Nuveen Green Capital Supplies $101M C-PACE Loan for Newark Studios<\/a><\/p>\n

Monsignor Kevin Nelan<\/b> was the signatory for Catholic Homes. The organization did not immediately respond to Commercial Observer\u2019s request for comment.<\/p>\n

Catholic Homes acquired the development site earlier this year for $17 million from another church organization, the Roman Catholic Church of Saint Simon Stock and Saint Joseph<\/b>.<\/p>\n

The NYS Housing Finance Agency \u2014 which also did not immediately respond to a request for comment \u2014 was founded in 1960 to provide financing for low- and moderate-income rental multifamily housing.\u00a0<\/p>\n

Catholic Homes develops and preserves properties across New York City, with the goal of providing aid to poor and vulnerable individuals and families. All told, Catholic Homes has provided New Yorkers with 481 senior housing units, 2,350 family housing units and 128 supportive housing units.<\/p>\n

The organization has several housing and supportive developments across the city, including Clinton Broome<\/b> at 157<\/b> and 165 Broome Street<\/b> in Manhattan\u2019s Lower East Side, the George Hardy <\/b>at 440 East 137th Street<\/b> in the Bronx\u2019s Mott Haven neighborhood, and the Carmel Apartments <\/b>at 61 Carmel Court<\/b> in Staten Island.\u00a0<\/p>\n

Amanda Schiavo can be reached at aschiavo@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"An affiliate of the Roman Catholic Archdiocese of New York just secured construction financing for a housing development…\n","protected":false},"author":3,"featured_media":939479,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[378259,5229,9886,9887,2556,525,378260,405,403,378261,5226,5225,5228,5227,67,586,132,5230,68,2969],"class_list":["post-939478","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-484-east-178th-street","tag-america","tag-construction","tag-construction-financing","tag-development","tag-finance","tag-kevin-nelan","tag-new-york","tag-new-york-city","tag-new-york-state-housing-finance-agency-channel","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116931326602952323","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/939478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=939478"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/939478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/939479"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=939478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=939478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=939478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}