Redefining Affordable Housing: 37 Hillside’s Commitment to Social Connection and Senior Well-being

Affordable housing is more than just a roof over one’s head; it is an opportunity to create thriving communities that support social connection and well-being. For seniors, especially those on fixed incomes or recovering from homelessness, a stable home can be life-changing. While a vital first step, housing alone is not enough. We must also create spaces that encourage relationships and purpose. This is where the concept of a “third space” becomes essential.

37 Hillside Senior Apartments located within the Inwood neighborhood of Manhattan, is a powerful example of how affordable housing can integrate the concept of a third space to nurture belonging and support senior well-being. Developed by RiseBoro Community Partnership and Coconut Properties, 37 Hillside Senior Apartments provides 163 affordable homes for seniors aged 62+, with 50 homes dedicated to formerly homeless seniors. But its impact goes far beyond the apartments themselves.

 “I am immensely proud of the exceptional work done by the entire 37 Hillside team. This project is a testament to our shared commitment to creating high-quality, affordable housing that meets the needs of our senior community,” stated Neala Martin, SVP, Originator at CREA. “The dedication and expertise demonstrated throughout the development process have resulted in a supportive environment where residents can thrive. It is truly inspiring to see how this project has come to life.”

At 37 Hillside, shared spaces play a significant role in creating a community within the building. With features like a communal kitchen workshop, meeting rooms, landscaped outdoor courtyards and multi-use spaces, the building encourages residents to gather, learn and engage with one another. These features are more than amenities, they are lifelines for seniors who may face isolation due to age, mobility challenges or financial constraints.

The development also houses a 7,400-square-foot worship space for the Rocky Mount Baptist Church, providing a place where faith and community intertwine. This addition reflects the development’s broader commitment to serving not only individual residents but also the surrounding neighborhood.

Central to the success of 37 Hillside is the integration of supportive services managed by RiseBoro, tailored to meet the aging in place needs of its residents. These services, combined with thoughtfully designed communal spaces, provide opportunities for residents to connect, whether through workshops, shared meals or time spent in the outdoor courtyards. By fostering relationships and a sense of belonging, 37 Hillside enhances the overall quality of life for its residents. This approach demonstrates how affordable housing can evolve beyond simply providing shelter to address the deeper social and emotional needs of seniors, creating environments where they can truly thrive.

"The 37 Hillside project will provide affordable housing for more than 150 seniors and build a healthy community that will allow our residents to truly thrive and connect with one another."

- Kieran Harrington, CEO, RiseBoro Community Partnership

“With this 37 Hillside project, our team attempted to achieve the very best of what is possible for residents, the community and all of our stakeholders and partners. The result speaks for itself – 100% affordable housing, a new church, Passive House and all-electric engineering; all within an inspiring and active design.”

- Adam Zeidel, Coconut Properties LLC

In a time when isolation and loneliness are increasingly recognized as public health challenges for mental health, the model set by 37 Hillside offers a roadmap for building vibrant communities. These spaces provide affordable housing and bridge the gap between individuals and the support networks they need to live with dignity and purpose.

By rethinking affordable housing as a platform for connection, we can ensure that every resident, regardless of age or circumstance has the opportunity to live a healthy, fulfilling life. At 37 Hillside Senior Apartments, home is not just a place to live, it is a place to belong.

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Financing

In addition to LIHTC equity, 37 Hillside will be financed with $56MM in tax-exempt bonds, a $56MM/$29MM in tax-exempt conversion bonds from the New York City Housing Development Corporation (“HDC”), a $9MM HDC “Ella” loan, a $12.3MM HPD “SARA” loan, a $1MM Sponsor Loan, a $600K Reso A loan, a $300K NYSERDA loan, and a $1.3MM Reserve Loan. 

Economic Impact

Based on averages provided by the National Association of Home Builders, in its first year, The Foundation will generate over 203 jobs, $12.9MM in local income, and $1.3MM in taxes saved, as well as $3.9MM in local income, and $718.8k in taxes saved annually.

*Source: National Association of Home Builders. Note: Totals are based on national estimates regarding the economic impact of residential construction for the U.S. economy as of April 1, 2020.