Our Projects
Hope East of Fifth, LLC
![Hope-East-Fifth](https://kalelcompanies.com/wp-content/uploads/2021/12/Hope-East-Fifth.jpg)
Role: JV Partner, Developer, Owner
Address: 41 buildings located in New York, NY 10029
Closing Date: December 2016
Year Completed: December 2018
Mount Hope Preservation Apartments, LLC (MHPA)
Role: JV Partner, Developer, Owner
Address: 13 buildings located in Bronx, NY 10453
Closing Date: February 2018
Year Completed: November 2020
![2](https://kalelcompanies.com/wp-content/uploads/2021/10/2.jpg)
Mount Hope Preservation Apartments 2A LLC (MHPA 2A)
![3](https://kalelcompanies.com/wp-content/uploads/2021/10/3.jpg)
Role: JV Partner, Developer, Owner
Address: 6 buildings located in Bronx, NY 10453
Closing Date: June 2018
Year Completed: December 2020
Monad Pillars I LLC (Pillars)
Role: JV Partner, Developer, Owner
Address: 2 buildings located in New York, NY 10030
Closing Date: December 2019
Year Completed: June 2021
Pillars involves the acquisition and moderate rehabilitation of 89 residential units situated across two buildings located in Central Harlem. The rehabilitation included complete replacement of all roofing elements and windows, boiler and HVAC upgrades, exterior façade pointing, brick replacement, common area modernizations, and new appliances for all units. Total project costs were an $25 million. Financing for repairs included private equity, capital subsidy made available under HPD’s Neighborhood Pillars Program and a permanent loan provided by Merchants Capital.
![Monad Pillars](https://kalelcompanies.com/wp-content/uploads/2021/12/Monad-Pillars-1.png)
PACT Renaissance Collaborative LLC (PRC)
![Wise-Towers-117-W90th-9B-Model-Apartment](https://kalelcompanies.com/wp-content/uploads/2021/12/Wise-Towers-117-W90th-9B-Model-Apartment.jpg)
Role: JV Partner, Developer, Owner
Address: 43 buildings located in New York, NY
Closing Date: December 2020
Year Completed: Construction in progress – 35% complete
New Roads Plaza Owner LLC
Role: JV Partner, Developer, Owner
Address: 481 East 164th Street, Bronx, NY
Closing Date: December 2019
Year Completed: Construction in progress – 80% complete
New Roads Plaza consists of the improvement of a 12,543 square-foot parcel situated on the corner of Washington Avenue and East 164th Street in the Morrisania neighborhood of the South Bronx, NY. The Project involves the construction of a new, eight (8)-story elevator building, which will house ninety-five (95) residential units. Featured amenities include 24-hour on-site security, offices for resident social services, a community room, shared indoor and outdoor recreational space, laundry facilities, and a cellar level for mechanical systems and tenant storage. The total gross floor area of the building is 77,560 square feet. The tenant profile for the Project includes a mix of low-income families and special needs individuals, specifically chronically homeless, single adults with Serious Mental Illnesses (SMI). Financing for improvements includes equity generated from the sale of 9% LIHTCs, a provision of new capital subsidy made available under HPD’s Supportive Housing Loan Program and a construction loan from Wells Fargo Bank.
![map-481-East-164th-Street](https://kalelcompanies.com/wp-content/uploads/2021/12/map-481-East-164th-Street.jpg)