NEW YORK CITY-Citi Community Capital and Simone Development Cos., in partnership with Monge Capital, have provided new markets tax credit financing for the construction of Metro Center Atrium, a mixed-use commercial development in the Pelham Bay section of the Bronx, a medically underserved community. The companies declined to say how much money they doled out for the deal.
Metro Center Atrium is a 370,000-square-foot development consisting of community health care and social service providers, the first LA Fitness health club in New York City and a 95,000-square-foot, 125-room Residence Inn by Marriott. The Residence Inn will be the first Class A hotel in the Bronx.
The property is part of the Hutchinson Metro Center development, Simone's 42-acre, multi-phase, Class A office and retail complex. The expansion will provide much needed services to the local residents, create nearby accommodations for families of patients in nearby hospitals, and continue the development of Hutchinson Metro Center.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
