The 1080 Anderson Avenue project involves a partial Article XI tax exemption for a term of 40 years to support the preservation and rehabilitation of four buildings located in the Highbridge neighborhood of the Bronx. The properties provide a total of 298 rent-stabilized residential units, including two superintendent units. The scope of work includes heating system maintenance, steam system upgrades, lighting improvements, weatherizing, air sealing, pipe insulation, and installation of temperature controls. The exemption aims to preserve affordability and maintain long-term operational viability while requiring a 10% homeless set-aside (30 units) and including HPD’s Aging-in-Place initiative.
This tax exemption is essential for maintaining affordable housing in the Bronx, particularly in the Highbridge neighborhood, supporting the city's goals to provide stable housing options for low-income residents and enhance community resilience.