Alma Realty, which is known for its massive Astoria Cove project in Queens, is heading up to the Bronx. Last week, the Long Island City-based developer filed plans for an eight-story, mixed-use building in the West Farms section of the borough.
New building applications call for 48 apartments and 4,000 square feet of medical offices. Those apartments would be spread across 33,580 square feet of residential space, for rental-sized average units measuring 700 square feet. The medical facilities would occupy the cellar and first floor, followed by eight apartments apiece on the second through sixth floors. The top floor would only hold five units, followed by a roof deck.
The cellar would have 22 bike storage spots and a 15-car garage, which is required by zoning. Panagis Georgopoulos Architect applied for the permits.
The project is likely affordable housing, because market-rate development is unlikely to pencil out in West Farms. The neighborhood is served by the 2 and 5 trains, and Bronx Park and the Bronx Zoo are right next door. Still, West Farms remains one of the Bronx’s poorest neighborhoods. Twenty percent of residents receive federal housing assistance or vouchers, and more than 40 percent of the neighborhood lives below the poverty line, according to Census data.
The development site is an empty lot and sits mid-block between Crotona Parkway and Daly Avenue, two blocks north of the Cross-Bronx Expressway. Alma picked up the 9,800-square-foot lot and seven adjacent apartment buildings for $3.9 million in 2006.
Subscribe to the YIMBY newsletter for weekly uxpdates on New York’s top projects
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Good news to hear that new project prepare to raise on way.