The Real Deal New York

Trinity Financial, MBD file plans for Mott Haven high-rise

City chose the duo for affordable housing project at 425 Grand Concourse last year
By Will Parker | April 17, 2017 05:40PM

A rendering of 425 Grand Concourse

Trinity Financial and MBD Community Housing are getting started on a 289-unit affordable housing project in the South Bronx, a permit application filed with the city Monday shows.

The 28-story property is set to rise on a city-owned site at 425 Grand Concourse in the Mott Haven neighborhood. Mayor Bill de Blasio’s administration chose the developers for the development in April 2016.

Plans have changed slightly since then, with the new construction filings showing four extra floors and 48 more rental units. The developers and the city have together commenced the rezoning process to qualify the site for C6-3 zoning, allowing a mixed-use project of this scale.

The Grand Concourse project will be the largest so-called “passive house” development in New York City, featuring state-of-the-art energy efficiency, and consuming just 30 percent of the average energy for a building of comparable size. Dattner Architects is designing.

A charter school, supermarket, a medical facility and community spaces are also coming to the site.

The city plans to finance the construction, but no loan transactions have yet been recorded by the Department of Finance.

Molly Park, the Housing Preservation and Development agency’s deputy commissioner who filed the construction plans, did not immediately respond to a request seeking comment.

The project is the latest in a steady pipeline of affordable projects in the South Bronx, including the 992-unit La Central in Melrose. Market-rate development, however, is in the area’s near future: Last month, Chetrit Group and Somerset Partners announced they would soon break ground on their 1,300-unit, market-rate residential complex on the Mott Haven waterfront. The developers are seeking a $500 million construction loan.