Developed in a partnership between Property Resources Corp. and Camber Property Group, 975 Tiffany Avenue will officially move forward following the securing of $60 million in construction financing. Located in the Longwood neighborhood of The Bronx, the 100% affordable residential project will rise a total of eight stories, replacing a privately owned vacant lot and a private parking lot.
The building is designed by New York design firm Peter Clements Architect, P.C. and will offer a range of studio, single, double, and triple bedroom accommodations. Qualifying occupants include families and individuals with incomes ranging from 27 to 100 percent of the area’s median figure. A set of 24 units will be reserved exclusively for formerly homeless individuals and families.
975 Tiffany marks the third 100 percent affordable housing collaboration from the Property Resources Corp and Camber Property Group joint venture in the Longwood neighborhood. Other projects include 1000 Fox Street, an eight-story, 120 unit affordable project, and 960 Simpson Street, a six-story, 80-unit building. Both developments are now approaching full completion.
“We’re thrilled to once again partner with PRC to provide critically needed affordable housing on formerly underutilized lots in Longwood,” said Rick Gropper, Principal of Camber Property Group. “Leveraging underutilized land to address the housing crisis is essential, and we applaud the de Blasio administration and Council Member Salamanca for their sustained leadership on this issue.”