New York City Mayor Eric Adams has announced progress in the city’s “24 in 24” plan, which aims to advance 24 affordable housing projects on public sites in 2024. The initiative, a key promise from Mayor Adams’ State of the City address, has already surpassed the halfway mark ahead of schedule, with 13 developments currently underway.
The affordable housing lottery has launched for 414 East 152nd Street, an eight-story mixed-use building in Melrose, The Bronx. Designed by Baobab Architects and developed by Shaya Seidenfeld of MZS Realty Corp., the structure yields 44 residences. Available on NYC Housing Connect are 25 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $106,458 to $198,250.
The Beitel Group has secured a $150 million loan for the development of 120 East 144th Street, a new residential project in Mott Haven, The Bronx. The funding, which was supplied by SCALE Lending, will support the construction of the 13-story, 450-unit property.
Permits have been filed for a four-story residential building at 3046 Decatur Avenue in Norwood, The Bronx. Located between East Mosholu Parkway North and East 204th Street, the lot is within walking distance of Norwood subway station, serviced by the D train. Lin Kumbullaj of Kiri Construction Corp. is listed as the owner behind the applications.
Governor Kathy Hochul recently announced the opening of River Avenue, a 19-story affordable and supportive housing development at 1159 River Avenue in Highbridge, The Bronx. Designed by Urban Quotient, the structure yields 245 units and more than 20,000 square feet of commercial space, and is part of a larger commitment to increase housing accessibility in New York.
