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BRONX, NY-Ozone Park-based Tahoe Development is redeveloping four buildings here. The mixed-use project, called "Tahoe in the Bronx," will add 34 apartments as well as retail space to the Boston Road/Clinton Avenue section of the borough, which the developer calls "up and coming."

Metropolitan National Bank of New York is providing nearly $10 million in financing for the projects. MetBank first provided Tahoe with a $4.2 million construction loan package. Then the bank approved two additional new construction projects totaling just under $4.8 million.

Initially the project was conceived under the Quality Housing Program and the loan was approved for the construction of two 24-unit apartment buildings, explains Thomas Moore, the MetBank commercial mortgage executive who structured the deal. Subsequent to closing, Tahoe gained approval for a change in plans to build retail within the project. MetBank then modified the loan to reflect the change.