Mannie Wilson Tower
West Harlem, NY
Rockabill’s Role: Development Consultant
Client: West Harlem Group Assistance
Agencies: US Department of Housing, NYC Department of Housing Preservation and Development, NYC Housing Development Corporation, HUD
Team: Merchants Capital, NYC Housing Development Corporation, NYCDepartment of Housing Preservation and Development, Hirshen Singer & EpsteinLLP, ESKW Architects, Conrock Construction
Located in the former Sydenham Hospital (historically known as being the first medical facility in New YorkCity to voluntarily hire Black physicians), Mannie Wilson Towers provides 102 one- and two-bedroom unitsof restricted-income housing for seniors in the Harlem neighborhood. As part of the U.S. Department ofHousing and Urban Development (HUD) Section 202 program, units are restricted to residents 62 years ofage and older who usually earn 50% of the area median income (AMI) or less. The Section 202 program also provides support activities for residents such as cleaning, cooking, transportation and more. Additionally, the property is 100% encumbered by a Section 8 Housing Assistance Payment (HAP)Contract, a program of HUD.
Rockabill worked with our nonprofit client to preserve this historic property through HPD’s Year 15program. The transaction included a restructured HAP contract from HUD, an extension of affordability and tax incentives, and an $18.2M Risk Share loan from Merchants Capital and NYC HousingDevelopment Corporation. This transaction allowed West Harlem Group Assistance to make necessary capital improvements and system upgrades throughout the building and ensure long-term affordability and financial viability.
