Here’s a new one: Bronx community board wants developer investigated for not building luxury housing

CB8 alleges Stagg, former borough prez "misrepresented" Kingsbridge project

TRD New York /
Aug.August 01, 2017 08:30 AM

5731 Broadway in the Bronx (Credit: Google Maps)

A Bronx community board is calling foul over a developer’s decision to turn a building planned as luxury housing into a homeless shelter.

Community Board 8 has asked the city’s Department of Investigation to probe the project’s developer, the Stagg Group, and its consultant, former Borough President Adolfo Carrión for “misrepresentation” in turning the 83-unit building into a shelter.

Stagg and Carrión initially said the building in question, 5731 Broadway in Kingsbridge, would house 83 mostly market-rate units with some affordable apartments. As a result, the project was eligible for tax breaks from the city.

Developer Mark Stagg dismissed the community board’s allegations. “That’s a stretch,” he told the New York Post. “It’s a free society where we are allowed to change our mind, aren’t we?”

He has said he changed his mind after Praxis, the nonprofit that will run the transitional housing, approached him.

But Community Board 8 “unanimously approved a resolution asking the Department of Investigation to determine whether a material misrepresentation was made . . . for the purpose of getting a tax benefit,” said Charles Moerdler, chairman of the board’s land use committee.

Stagg Group has been one of the most active developers in the Bronx in recent years. In June, it filed plans for a 68-unit building at 186 St. Georges Crescent. It also has projects in the works at 29 Featherbed Lane And 3469 Cannon Place. [NYP] — E.B. Solomont


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

448 East 143rd Street in the Bronx (Credit: Google Maps)

Private developer’s NYCHA project in Mott Haven lands $79M in financing

1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)

Maddd Equities, Joy Construction score $64M for massive Bronx project

Compass SoCal boss Nick Segal steps down

Compass SoCal boss Nick Segal steps down

Mayor Bill de Blasio (Credit: Getty Images)

Mayor agrees to require units for homeless in city-backed projects

Democratic State Sen. James Skoufis (Credit: NY Senate)

Real estate agents facing subpoenas after failing to appear at hearing

From left: 1 West End Avenue, 161 West 13th Street and 66 Ninth Avenue (Credit: StreetEasy and Wikipedia)

Porter House penthouse among NYC’s 5 priciest homes to hit the market last week

15 East 90th Street (Credit: Google Maps)

Lonely townhouse finds a match after years on market

arrow_forward_ios
Loading...