The former illegal hotel on West 107th St. has been renamed for retired Goddard Riverside head Stephan Russo
Media Contacts: Trish Anderton [Goddard]: TAnderton@goddard.org
Katie Devine [Rockabill]: kdevine@rockabill.com
New York, NY (October 27, 2025) A celebratory crowd cut the ribbon on the Goddard Riverside Stephan Russo Residence on West 107th Street today, marking the building’s transformation from an illegal transient hotel into permanent supportive housing.
The $38 million renovation was carried out by Rockabill Development and Goddard Riverside. Rockabill is a leading development partner and consultant to nonprofit owners of affordable, supportive and transitional housing. Goddard Riverside, a highly respected human services nonprofit headquartered in Manhattan, purchased the building with Rockabill in March 2021. The work was carried out with ConRock Construction LLC and Oaklander, Coogan & Vitto Architects. The single-room occupancy (SRO) property located at 235 West 107th Street was operated by the previous owner as an illegal transient hotel called The Morningside Inn.
The Stephan Russo Residence offers supportive housing—affordable housing with onsite services to help formerly homeless tenants live in dignity in the community. All tenants hold leases and pay about a third of their income in rent. There is no time limit on their stay, and many people live in supportive housing for decades.
The building is named for Stephan Russo, who worked at Goddard Riverside from 1976 until 2017—including nearly two decades as executive director from 1998 until 2017. Russo played an active role in creating the supportive housing model in the late 1980s and early ‘90s through projects like Goddard’s Capital Hall and Senate Residence, and was also involved in Goddard’s pioneering homeless outreach initiative. Both models are essential pieces of the Housing First approach to ending homelessness.
“Goddard Riverside believes every person deserves the chance to reach their full potential. Having a home—not just a roof over your head or a temporary shelter, but a permanent home with your own key—helps make that possible,” said Goddard Riverside President Roderick L. Jones. “Converting SROs like this one into permanent supportive housing preserves affordable housing and makes it available to some of the most vulnerable New Yorkers. This project was a community effort and we are grateful to everyone who partnered with us on it. I’m delighted to be able to name this residence after my predecessor, Stephan Russo, a treasured member of the Upper West Side community and a pioneer of the supportive housing model that has transformed so many lives across the country.”
“The transformation of the Stephan Russo Residence is a testament to what thoughtful preservation and innovative development can achieve,” said Niall Murray, President at Rockabill Development. “By converting a historic SRO into permanent supportive housing, we are providing more than just apartments—we are creating homes that empower residents with stability, dignity, and the opportunity to thrive.
“We are grateful for the strong partnership with Goddard Riverside and the continuation of our 20 year relationship that demonstrates our collective commitment to addressing New York City’s housing challenges,” said Katie Devine, Principal at Rockabill.
“During a housing crisis, every unit, every square inch of additional housing capacity carries tremendous weight,” said Acting HPD Commissioner Ahmed Tigani. “The Stephan Russo Residence takes care to honor that by reconfiguring an illegal Upper West Side hotel into something better: deeply affordable, supportive, and transitional housing. A place once mired in instability is now a place where people can get grounded, rebuild, and access the services and support they deserve. I’m grateful to our partners at Rockabill Development, Goddard Riverside, our financing partners, our local community and elected officials, and everyone and anyone who has helped to create a place where second chances for the 68 New Yorkers can be provided, a place they can call home.”
The renovation reduced the building’s 84 units to 68, but provided each with a private bathroom—previously, half had shared bathrooms. In addition, there is a unit for the live-in superintendent.
Each floor of the six-story building has two communal kitchens and dining areas which are shared by between six and seven tenants each. In addition, the first floor and basement have been renovated to create a community room and dedicated space for crucial case management and social services. A courtyard provides outdoor areas for residents to enjoy. The entire property has been made ADA compliant.
Other rehabilitation work includes elevator modernization, exterior façade repair, fully redesigned layouts with new finishes, and energy efficiency measures designed to bring the building into compliance with city and state energy codes. The project was certified and designed to Enterprise Green Community standards, including the replacement of the inefficient boiler and steam pipe system with an all-electric variable refrigerant flow (VRF) system for energy efficient heating and cooling with individually controlled thermostats in each unit.
In total, 54 households will receive supportive services and rental assistance through New York City’s 15/15 Supportive Housing Initiative, which provides supportive housing to people who are chronically homeless; six affordable units will be referrals from HPD’s HMLS Placement Services; and the remaining eight units will serve existing long-term residents of the property, whose deeply affordable rents will not change.
SROs once made up more than 10 percent of New York City’s housing stock, providing affordable housing for its most vulnerable populations. Goddard Riverside is committed to preserving and improving the city’s remaining SROs as supportive housing to fight the homelessness crisis.
Financing for the project included an $18.4 million capital subsidy from the New York City Department of Housing Preservation and Development’s (HPD) Supportive Housing Loan Program (SHLP), a $14 million construction loan from J.P. Morgan Chase, $700,000 in Reso A funding from both Manhattan Borough President Mark Levine and Councilmember Gale Brewer and a $620,000 award from the Federal Loan Home Bank of New York Affordable Housing Program.
The project generated $13.6 million in equity through the sale of 9 percent Low Income Housing Tax Credits (LIHTC) allocated by HPD. CREA served as the tax credit syndicator for the transaction, with Citizens Bank as investor. A permanent loan will be provided by the NYCERS Pension Fund with SONYMA Insurance. Acquisition financing was provided by Enterprise Community Partners and the New York City Acquisition Fund.
“The transformation of the Morningside Inn into the Stephan Russo Residence is exactly the kind of project New York City needs—one that turns underutilized space into stable, supportive homes,” said City Council Member Gale Brewer. “Goddard Riverside has shown what can happen when experienced, mission-driven partners work with the City to meet people’s needs with dignity. I was proud to help secure funding for this redevelopment, which honors Stephan Russo’s legacy and strengthens our commitment to ending homelessness on the Upper West Side and across New York City.”
“Every New Yorker deserves a safe and stable home. The new Stephan Russo Residence will provide just that for over 60 of our neighbors who will now get the stability and support they deserve. The residence is a true example of how we can rise to meet our city’s housing crisis. It represents what we can achieve when we invest in housing with dignity and compassion, and I am proud to have fought for the funding that helped make it possible. For decades, Goddard Riverside has been a committed partner in uplifting our community, and this new residence will carry that mission forward for generations to come,” said City Council Member Shaun Abreu.
“This permanent supportive housing facility will allow New Yorkers experiencing homelessness to stabilize their lives and achieve long-term housing permanence with dignity and respect,” said NYC Human Resources Administration Deputy Commissioner Craig Retchless. “This marks another important milestone in the ongoing efforts to aggressively expand the creation of supportive housing for at-risk New Yorkers. It’s fitting this residence is named for Stephan Russo, whose work in supportive housing on behalf of homeless New Yorkers at the Goddard Riverside Community Center and at NYC DHS was instrumental in helping so many vulnerable families get back on their feet.”
“Increasing access to supportive housing options is an investment in the entire economy at a time when the housing crisis has never been greater. Investing in long-term solutions to break the cycle of homelessness and ensure people can receive the services they need to rebuild their lives yields a healthier, safer city for all,” said New York City Comptroller Brad Lander. “Putting this capital to work for our communities reduces the costly expenses of shelters and emergency services. Expanding New York City’s affordable housing supply through prudent investment decisions is both a meaningful impact in our own backyard and also delivers strong returns for our pension plan participants. I am proud to stand with Goddard Riverside on behalf of our pension funds to contribute to a more resilient New York that works for everyone.”
“I am so grateful to Goddard Riverside for all that they do in our community,” said Assemblymember Micah Lasher. “The Stephan Russo Residence will enable Goddard to expand their impact by providing homes, support, stability, and dignity for vulnerable New Yorkers. Thank you to Goddard and the whole team for their tireless work and the creativity they bring to finding solutions to the real challenges facing far too many of our neighbors.”
“Housing is essential to health for us all, and supportive housing connects New Yorkers experiencing serious mental illness or substance use disorders with resources that support stability in a place they can call their own. We are proud to partner with Goddard Riverside as we continue to expand the availability of this model and help more New Yorkers live a healthier life,” said Dr. H. Jean Wright II, Executive Deputy Commissioner of the Division of Mental Hygiene, Department of Health and Mental Hygiene.
“This is more than the transformation of a building—it’s the construction of a foundation for hope and stability in our city,” said Alexandra DiStefano, VP, J.P. Morgan Community Development Banking. “The Stephan Russo Residence stands as a testament to what is possible when public and private partners unite with purpose and compassion. Together, we are reimagining what home means for New Yorkers—offering not just shelter, but dignity, support, and the promise of a brighter future for every resident.”
“Developments like this make our communities safer by providing stable housing with wraparound services for people in need,” said Manhattan D.A. Alvin Bragg, Jr. “I thank Goddard Riverside for their partnership, and for providing safe, stable, affordable home for dozens of formerly unhoused New Yorkers through the new Stephan Russo Residence.”
“Congratulations to Goddard Riverside and all project partners who have made the Stephan Russo Residence possible. Ths type of project has all the hallmarks of exceptional housing policy–it meets people where they are at, at the incomes they currently make and it provides permanently affordable housing buttressed by social services. If we are serious about solving the housing crisis, we must follow this type of approach,” said State Senator Cordell Cleare, Chair of the Senate Aging Committee.
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About Goddard Riverside
Goddard Riverside strives toward a fair and just society where all people can make choices that lead to better lives for themselves and their families. Our programs serve more than 20,000 people annually, preparing children and youth for success; supporting self-sufficiency; enriching the lives of older adults; promoting behavioral health; fighting homelessness; and strengthening families and communities.
About Rockabill Development & Consulting
Rockabill specializes in partnering with and advising nonprofit and for-profit entities in the development and financing of affordable, supportive, and transitional housing. Rockabill’s expertise lies in the innovative use of financing tools, including but not limited to the use of low-income housing tax credits and tax-exempt bonds to finance development. Rockabill has consulted and partnered on over 14,000 units of affordable housing since its inception in 2007.