Construction has broken ground on phase one of Bronx Point, a mixed-use development in the South Bronx. In addition to 542 affordable housing units, phase one includes construction of the Universal Hip Hop Museum, 2.8 acres of public open space, and a robust mix of community facilities.
L+M Development Partners, Type A Projects, BronxWorks, and the City of New York have closed on $349 million financing package to complete phase one of Bronx Point, a new mixed-use affordable housing complex in the South Bronx. As a public-private partnership, the financing entities include the New York City Department of Housing Preservation and Development, the New York City Housing Development Corporation, Empire State Development, Wells Fargo, and additional private funding sources.
A 1,045-unit housing complex known as Bronx Point is now recognized as the first and only affordable housing project to achieve WEDG certification. The rating system was founded by the Waterfront Alliance, an independent offshoot of The Municipal Art Society of New York, that establishes guidelines for ecologically friendly waterfront design and construction.
A new rendering has been released detailing a multi-use structure located in the South Bronx. The property which is currently owned by the city is one of the largest in its possession, and is situated on the Harlem River waterfront just north of the 145th Street bridge, adjacent to the Major Deegan Expressway. The New York City Economic Development Corporation (NYCEDC) has partnered with the Department of Parks and Recreation (DPR), as well as Department of Housing Preservation and Development (HPD) in their development of the property.