750 mostly affordable apartments coming to the South Bronx near Yankee Stadium

Posted On Thu, May 3, 2018 By

Posted On Thu, May 3, 2018 By In affordable housing, Bronx, New Developments

Photo via Wiki Commons

The South Bronx’s building boom is continuing with the announcement of a pair of developments near Yankee Stadium that will bring 750 mixed-use residential units to the area. As reported by The Real Deal, Maddd Equities is developing two sites across from each other at 1159 and 1184 River Avenue. The former will have 250 affordable and supportive housing units, and the latter will be a set of 17-story buildings with 500 apartments, most of which will be reserved for low-income households.

1159 (lower left) and 1184 River Avenue outlined in red

Maddd will partner with the affordable housing nonprofit Community Access for the 1159 site. The 200,000-square-foot project will also include parking and retail space. River Crest, the name for the development at 1184, will cover roughly 550,000 square feet across the two buildings and include 350 parking spots, more retail space, and room for a community facility. Both sites will replace parking lots.

The development comes on the heels of the recently approved Jerome Avenue Rezoning, which aims to boost residential and commercial development in an area historically zoned for auto uses. The plan for this 92-block stretch along Jerome Avenue from East 165th Street to 184th Street allows developers to replace the low-rise warehouses with residential buildings that can rise up to 145 feet. It will include 4,600 new apartments, the preservation fo 2,500 units of existing affordable housing, and a $189 million capital investment for workforce development, open space, parks and two new public schools.

So far, under the rezoning, the city has approved The Peninsula, a $300 million plan to redevelop the former Spofford Juvenile Detention Center as a mixed-use development with 740 units of 100 percent affordable housing, 52,000 square feet of open and recreational space, and over 50,000 square feet for a community facility and art workspace. Another nearby project, Chetrit Group and Somerset Partners’ $165 million Bronx Point, will include 1,045 housing units (600 affordable), a food hall, and the country’s first Hip-Hop Museum.

[Via TRD]

RELATED:

Tags : , ,

Neighborhoods : South Bronx

MOST RECENT ARTICLES

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.