Permits Filed: 2763 Morris Avenue, Fordham Affordable Housing Project

2763 Morris Avenue, image from Bing Maps2763 Morris Avenue, image from Bing Maps

Most subsidized housing development in the Bronx is concentrated in the borough’s southern precincts, but occasionally we see below-market construction creep up the Grand Concourse, as with a filing today for a project at 2763 Morris Avenue, near the border between the Fordham and Bedford Park sections of the Bronx.

The new building permit application calls for an 11-story residential building. The 65 apartments would be spread over 58,000 square feet of net residential space, in a roughly even split between one- and two-bedroom units, with a small number of studios.

The land was purchased by the developer (Alex Berkovitch’s Universal Contracting, operating under an LLC) in two parts – one lot (home to a since-demolished single-family detached home) in 2008 for $1.55 million, and the other from a church last year for $950,000. The lower purchase price for the church perhaps reflects the fact that the space will be replaced in the new building – it will have nearly 9,000 square feet of space for the church on the ground floor and below, with room for a Sunday school, accessory offices, and a cafeteria, in addition to the church’s worship space.

In total, the developer paid $2.5 million for the land, or a bit under $40 per buildable square foot – cheap, but pricier than land that a market-rate developer elsewhere in the borough would pay.

James McCullar Architecture is responsible for the design, and the New York City Housing Development Corporation will issue up to $15 million in debt to pay for construction.

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