An evening to celebrate community, the holidays and the completed lobby transformation and ongoing renovations at Keith Plaza and Kelly Towers

Bronx, New York, December 23, 2016 – This past Monday and Tuesday, residents and staff of Keith Plaza and Kelly Towers Apartments were joined by the property’s owner and developer, Hudson Valley Property Group, and property manager, RY Management, to celebrate community, upcoming holidays, and the properties’ ongoing $14 million renovation.

The RY Management team has created an annual holiday tradition organized by District Manager, Daniel Durante, at the two properties that new owner, a partnership between Hudson Valley Property Group and Phoenix Realty Group, was excited to continue to sponsor and support. Keith Plaza and Kelly Towers are home to approximately 2,500 residents and staff. All of them were invited to attend the holiday dinner parties that took place in the recently upgraded lobbies at the respective properties. Local Bronx neighborhood restaurant, Villa Barone, provided a full holiday spread, while the properties’ security vendor, Madison Security, provided holiday gift baskets and raffle prizes that went home to lucky winners.

Keith Plaza is a 311-unit, 30 story building located at 2475 Southern Boulevard, and Kelly Towers is a 301-unit, 17-story located across the street at 2375 & 2405 Southern Boulevard. The two properties were acquired by Hudson Valley Property Group and Phoenix Realty Group in December of 2015. Both properties are being renovated and preserved as affordable workforce housing for the long-term. Financing for the project was provided by the City of New York, including the New York City Housing Development Corporation and the New York City Department of Housing Preservation and Development, in addition to equity investments by the owners and Belveron Partners.

As described by Jason Bordainick, Managing Partner, Hudson Valley Property Group, “This important project will ensure that working class families and retired seniors who reside here have a quality, affordable place to call home for years to come. We plan to follow the City’s lead and continue to work to preserve affordable housing throughout the five boroughs.”

“We love a good holiday celebration with our residents, and the real gift is the rehabilitation and preservation of so many homes for the city’s at-risk population,” added Paul Odland, Managing Partner of Belveron Partners.

Another reason for celebration at Monday’s and Tuesday’s events is the steady progress being made with the ongoing renovation at the properties that began in early 2016 and is expected to end in early 2017. The fully renovated lobbies and expanded building security are now complete. Additional items in the buildings’ overhaul include: significant energy efficiency enhancements, better heating systems, new lighting, and extensive upgrades to common areas and individual resident units.

Maria Latimer, a resident of Keith Plaza and head of the tenant association, commented, “The physical and security system upgrades at Keith Plaza have made the tenants feel safer and more secure; especially the better lighting and cameras in all of the hallways. The tenant community celebrated the upgrades making the Christmas event very festive this year.”