09/08/2026
Everything is Coming Up Roses at🌹 Rose Hill Apartments! 10M HUD refinance loan will yield building improvements and long-term affordability for this 119-unit low-income senior-citizen building. After more than two years of predevelopment work at Rose Hill Apartments that included repositioning the Low-Income Housing Tax Credits (LIHTC) on the property, performing the required LLXI façade work, and undertaking weatherization improvements, UNHP closed on a 10M refinancing loan with Bellwether Enterprise and a HUD 223F mortgage. Thank you to UNHP staff, Rose Hill board and JVB our attorney, management, social services staff, the tenants who tolerated the renovations and inconvenience. Before closing, we completed significant renovation work at the property, including pointing, brick replacement, and lintel repairs to comply with Local Law XI. Thanks to an awarded grant from the Our Bronx NYS Weatherization Program, we completed full window replacement in units, hallways, and the community room, plus LED unit and public-area lighting, at very little cost to the project. After closing, we will complete a variety of critical and non-critical renovations. Tenants have requested speed bumps in the parking lot, hallway flooring replacement, and increased social activities and trips. Solar panels and a backup battery storage system are also on the wish list for future work. Read more on our blog post: https://unhp.org/blog/everything-is-coming-up-roses-at-rose-hill-apartments-10m-hud-refinance-loan-will-yield-building-improvements-and-long-term-affordability/