The Real Deal New York

City picks developers for 300K sf Bronx housing complex

Mixed-use project will hold 241 affordable units, charter school and retail

April 28, 2016 03:45PM

Rendering of 425 Grand Concourse in the South Bronx (inset: Bill de Blasio)

Rendering of 425 Grand Concourse in the South Bronx (inset: Bill de Blasio)

The de Blasio administration tapped developers Trinity Financial and MBD Community Housing Corporation to team on a new 300,000-square-foot mixed-use affordable housing complex in the Mott Haven section of the South Bronx.

The rental project, located at 425 Grand Concourse, will feature 241 below-market-rate, affordable housing units for tenants earning between 60 to 100 percent of area median income. That would be $46,613 to $63,700 for a family of three, according to Politico.

In addition to the residential component, the 24-story building will hold a charter school, a medical facility, a supermarket and spaces for cultural programs and social services, as well as a renovated and reopened public playground.

The city is billing the project as its largest “passive house” development, featuring extensive energy efficiency features. The building will consume only 30 percent of the energy of a traditional housing development, according to the de Blasio administration.

The complex will be build on city-owned land that once held a public school, and will be financed through the mayor’s budget for his 10-year affordable housing plan, which is targeting the construction of 80,000 new low-to-middle-income apartments by 2024. [Politico]Rey Mashayekhi

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