Stagg Group, which is building several market-rate projects throughout the Bronx, is also working on a partially-affordable development in Bedford Park, a working class Bronx neighborhood home to Puerto Rican, Dominican, Ecuadorian, and Indian communities.
The 13-story building will rise at 150 Van Cortlandt Avenue East, on a large, curved lot between the Grand Concourse and Moshulu Parkway. The neighborhood is an attractive place to raise a family, with Montefiore Medical Center nearby, the 4 train four blocks away at Mosholu Parkway, and Van Cortlandt Park a 15- to 20-minute walk. DeWitt Clinton High School, Bronx High School of Science, and Lehman College are all located less than a mile away.
New building applications filed last month reveal that the project will have 163 apartments. Half will rent to households earning less than 60 percent of the Area Median Income, or $48,960 for a family of three. In exchange, the property will receive a Low Income Housing Tax Credit. The remaining apartments will rent for market rates.
The residential portion will be spread across 128,899 square feet, for typical apartments measuring 790 square feet. The ground floor will host a 5,100-square-foot community facility, a laundry room, and storage space for 82 bikes. Each floor will have 11 or 12 apartments, and tenants will have access to a gym on the 11th floor.
Marin Architects designed the building. The façade will be clad in red, gray, and white brick.
Stagg picked up the property, a former gas station, for $7.1 million in March of 2015.