Photo of the building courtesy of Camber Property Group; Photo of the ribbon cutting courtesy of Aria Isadora
A 100 percent affordable housing building opened this week in the Bronx’s West Farms, an area with some of the lowest median household incomes in the country. Dubbed the Tremont Residences, the 11-story tower at 1973 Daly Avenue has 119 units, with about 60 percent of the apartments set aside for formerly homeless New Yorkers. The $50.6 million development includes on-site support for those who need support to live independently, according to officials.
The West Farms section of the Bronx is located in one of the poorest congressional districts in the country. The small residential neighborhood, just below Bronx Park, home to the Bronx Zoo and New York Botanical Garden, has a median income of about $23,000 per year, compared with $38,000 in the Bronx and $61,000 citywide, according to Gothamist.
This week’s completion of Tremont Residences comes as the neighborhood, and the city as a whole, continues to recover economically from the pandemic and is in the middle of a housing crisis.
“At a time when the city’s need for permanent housing for the formerly homeless has reached a critical juncture, the news that the Tremont Residences will be opening its doors to vulnerable New Yorkers and low-income families is greatly welcomed by the community,” Council Member Rafael Salamanca said in a statement. “With units being marketed at under 60 percent AMI and wrap-around services for those residents who need extra assistance, Tremont Residences will be an oasis for New Yorkers.”
Developed by Camber Property Group, Slate Property Group, and Westhab and designed by Aufgang Architects, Tremont Residences replaces a vacant single-story retail building. The project has 95 studio, 14 one-bedroom, and 10 two-bedroom apartments that are affordable to households with incomes between 30 and 60 percent of the area median income.
A housing lottery launched last September for the 60 percent AMI units, which included apartments priced at $1,254/month for a studio, $1,343/month for a one-bedroom, and $1,611/month for a two-bedroom.
The Tremont Residences offers amenities like a landscaped outdoor recreational space, full-time security, a fitness center, a computer lounge, bike storage, and shared laundry on each floor. The supportive services include case management, job readiness, placement, retention, referrals, and mental health services. There will also be ground-floor commercial space.
“The completion of this 119-unit development means that dozens of Bronx residents and families will have a safe, stable place to call home and the wraparound services they need to thrive,” Gov. Kathy Hochul said. “This project complements our $25 billion housing plan by not only providing high-quality affordable housing but also creating strong, vibrant, and resilient communities.”
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