The BAALDC was created in 1981 as the official housing and economic development agency for the Belmont community in the Bronx. In our first 10 years of existence, the BAALDC was involved with the stabilization and expansion of the commercial district under the Marketing slogan “Little Italy in the Bronx”. This 10 year effort, encompassed millions of dollars of capital improvements as well as a million dollars in capital assistance to property owners and merchants along the 2 major commercial streets of Belmont, Arthur Avenue and East 187th Street. In addition a series of marketing and promotional activities including caricature maps, videos, newspaper advertisements, as well as signage and brochures encouraging people to come and experience the uniqueness of this old world Italian community.
Beginning in 1987 and continuing to the present, the BAALDC has also embarked on an ambitious housing program which has provided affordable housing to elderly and handicapped individuals as well as affordable housing to families and opportunities for special needs populations to be re-integrated back within their communities. The Belmont community has been a focal point for some of this housing activity but the BAALDC has now expanded its outreach to many communities within the south Bronx resulting in the construction/rehabilitation of 75 buildings consisting of 2500 apartments. This focus on affordable housing remains the primary goal of the BAALDC and we are currently pursuing potential opportunities to expand both our elderly and family housing stock with current plans underway for future financing utilizing federal, city, state, and private resources.
OUR MISSION STATEMENT
Since its inception in 1981, it has been the primary mission of the Belmont Arthur Avenue Local Development Corporation (LDC) to promote and enhance residential and commercial revitalization in Bronx County. As part of that mission the LDC, a tax exempt, non-for-profit corporation, in collaboration with the private sector, as well as with City, State and Federal agencies and departments, has obtained the necessary funding to acquire, upgrade, rehabilitate and revitalize approximately 70 multi-family buildings which now provide more than 2000 units of senior and other residential housing, which are now occupied by qualified tenants at affordable rents.