Goddard Riveride Closes Deal to Secure Future of its Older Adult Housing

[New York, NY – December 20, 2019] Goddard Riverside has completed an agreement to become the sole owner of Phelps House, its affordable housing residence for older adults at 595 Columbus Avenue (and 88th Street). Goddard bought out an investor limited partner and refinanced the mortgage.  As a result, according to Stanley Heckman, board member and former president of Goddard Riverside, the building’s use as low-income housing for seniors is now assured “well into the future.”

“Goddard Riverside’s goal is to invest in people and strengthen the community, and older adults are a key part of that picture. Goddard will be able to continue providing high-quality housing at an affordable price for them,” said Goddard Riverside Executive Director Roderick L. Jones. “The new resources will allow Goddard to enhance efforts to ensure those most in need are helped.”

Phelps House, which opened in 1983, provides 167 units of affordable housing for older adults and people with mobility impairments. Designed as an independent living residence with one- and two-bedroom apartments, it also offers a range of supportive services for its longtime tenants who have aged into their 70s, 80s, and 90s. It is attached to Goddard Riverside’s senior center at 593 Columbus Avenue, which provides residents with further access to activities, classes and low-cost meals.

Phelps House is named in honor of Phelps Mountain in the Adirondacks, a beloved destination of Jane and Cornelius Haugh – neighborhood residents who fought to create the residence.