City picks developers for 300K sf Bronx housing complex

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

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.

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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