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.
Construction has officially broken ground at 1159 River Avenue, a new 245-unit affordable housing project in the Concourse section of the South Bronx. Designed by Urban Quotient, the 19-story building will comprise 240,000 square feet. In addition to income-restricted and supportive housing, the structure will contain residential amenity spaces and a new ground-floor supermarket.
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.
Permits have been filed for a seven-story residential building at 301 East 165th Street in the Bronx’s Concourse Village. Located at the intersection of College Avenue and East 165th Street, the lot is closest to the Melrose MetroNorth train station, serviced by the Harlem line as well as the 161st Street-Yankee Stadium station, serviced by the B, D, and 4 trains. Stagg Group is listed as the owner behind the applications.
Permits have been filed for an 11-story mixed-use building at 337 East 162nd Street in Concourse, The Bronx. Located between Courtlandt Avenue and the Metro North Harlem Line, the corner lot is directly adjacent to the Melrose station on the Metro North train. The site is also eight blocks east of the 161 Street-Yankee Stadium subway station, serviced by the B, D, and 4 trains. New York City Housing Authority is listed as the owner behind the applications.