Joy Construction has announced plans to construct an 11-story affordable and supportive housing project at 1545 Jerome Avenue in Mount Eden, The Bronx. Built in collaboration with Services for the UnderServed and Blue Sky Development Partners, the 160,000-square-foot structure will yield 213 residential units. The property is currently occupied by a one-story parking facility.
New renderings have been revealed for Highbridge, a 31-story residential building under construction at 1387 University Avenue in Highbridge, The Bronx. Designed by Magnusson Architecture and Planning PC and developed by Samaritan Daytop Village, the 333,508-square-foot structure will yield 422 units comprised of 125 affordable homes, 190 supportive housing units, 106 transitional housing units for families, and one unit for the superintendent, as well as 5,300 square feet of common spaces. The fully electric development is aiming for Passive House certification and will be located on a 45,453-square-foot interior lot overlooking the Harlem River between Boscobel Place to the north and Highbridge Park to the south.
Permits have been filed for a six-story residential building at 2683 Creston Avenue in Fordham, The Bronx. Located between East 196th Street and East Kingsbridge Road, the lot is one block from the Kingsbridge Road subway station, served by the B and D trains. Erjon Pacaj of New Leaf Development LLC is listed as the owner behind the applications.
Construction has partially topped out on 315 Grand Concourse, a 13-story residential building in Mott Haven, The Bronx. Designed by Fischer Makooi Architects for Beitel Group, the 134-foot-tall structure will span 192,026 square feet and yield 240 rental units with an average scope of 770 square feet, as well as 7,040 square feet of commercial space, a 44-foot-long rear yard, and enclosed parking for 82 vehicles. The property is located on a triangular parcel bound by Grand Concourse, Walton Avenue, and East 140th Street.
Developer The Domain Companies announced today the closing of $218.6 million in financing for Estela, a two-building development in Mott Haven, The Bronx. The 11-story buildings at 414 and 445 Gerard Avenue yield 544 market-rate and affordable housing units and 10,000 square feet of ground-floor retail space. Freddie Mac’s Forward Commitment program provided long-term permanent financing through JLL Real Estate Capital. The Urban Investment Group at Goldman Sachs Alternatives led the Opportunity Zone equity financing for the mixed-income, mixed-use project.
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