Settlement Housing Fund obtains $70.6M construction loan for 182-unit project in Fordham

Settlement Housing Fund through the entity Twin Parks Terrace LLC as borrower signed a loan agreement with lender New York City Housing Development Corporation valued at $70.6 million for 1 parcel, including the tax class unlicensed parking lot (G7) at 373 East 183rd Street in Fordham. The deal closed on December 29, 2020 and was recorded on January 7, 2021.

Settlement Housing Fund signed a 99-year ground lease simultaneously with the funding with NYCHA as landlord, for the parcel. The plans for a 182-unit residential building were pemitted in December 2020.

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