“Citi is pleased to be able to provide the NMTC equity and allocation to the Metro Center Atrium project,” adds Andrew Ditton, co-head of Citi. "The social impact of this initiative and the continued economic revitalization it creates is remarkable.”

The proceeds from Citi's investment will be used to keep leases affordable for community organizations and provide services to local residents, including a free shuttle from local subway and bus stops. Additional financing was provided through the federal EB-5 program.

“Participating in the continued expansion of this pioneering campus speaks to our commitment to bring investment capital into underserved markets as well as our belief in the reemergence of the Bronx—where I was born and raised,” notes Jeff Monge, managing partner of Monge Capital.

The 42-acre Hutchinson Metro Center office complex, located directly off the Hutchinson River Parkway in the Pelham Bay section of the Bronx, is Citi's largest and most successful development. The first two phases of the complex (1200 Waters Place and 1250 Waters Place), which comprise nearly 750,000 square feet of Class A office and medical space, are fully leased. Two additional phases totaling 650,000 square feet (the 370,000-square-foot Metro Center Atrium and 280,000-square-foot tower wwo, adjacent to 1250 Waters Place), are under development.