Douglaston Development, New York State Homes and Community Renewal, and New York City Department of Housing Preservation and Development recently announced the closing of construction financing for a $93.5 million mixed-use affordable housing development. The senior housing development addressed as 2856 Webster Avenue will bring 188 units to the Bedford Park neighborhood in The Bronx.
Construction is imminent on Twin Parks Terrace, a 14-story affordable housing development in the Bronx’s Fordham Heights neighborhood. Settlement Housing and Joy Construction are developing the project on land owned by New York City Housing Authority (NYCHA), in partnership with New York City Department of Housing Preservation and Development, New York City Housing Development Corporation, and NYCHA. Danois Architects is designing the mixed-use building that will include 182 residential units, amenities, 10,489 square feet of ground-floor retail, and 1,883 square feet of community facility space.
Due to fair housing concerns, New York City plans to suspend the Affordable Independent Residences for Seniors housing program, aka AIRS, beginning July 21, 2021.
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.
Permits have been filed for a nine-story mixed-use building at 87 West 169th Street in Highbridge, The Bronx. Located between Shakespeare Avenue and Nelson Avenue, the interior lot is near the 170th Street subway station, serviced by the 4 train. The Department of Housing Preservation and Development is listed as the owner behind the applications.
