Maddd Equities files plans for large South Bronx affordable housing project

Building would be addressed at 1164 River Avenue and span about 274K sf

May.May 17, 2018 01:35 PM

Jorge Madruga and 1164 River Avenue (Credit: Google Maps)

Maddd Equities has pre-filed plans for one of the buildings at its massive 750-unit affordable housing complex in the South Bronx.

The company pre-filed plans with the Department of Buildings on Tuesday for a 17-story, 250-unit building at 1164 River Avenue, right by Yankee Stadium. The building would span 274,329 square feet, split between about 187,000 square feet of residential space and 88,000 square feet of commercial space.

Jorge Madruga of Maddd Equities declined to comment on the development.

The company is partnering on the project with the affordable housing nonprofit Community Access. Its CEO Steve Coe previously told The Real Deal that Maddd Equities will run the retail portion of the building, and Community Access will manage the residential portion.

Maddd Equities is also planning to build a larger project nearby at 1184 River Avenue called the River Crest. It would consist of two 17-story buildings spanning about 548,000 square feet with 500 residential units, along with retail and community space.

The sites are located in the Cromwell-Jerome section of the Bronx that the City Council voted in March to rezone.

L+M Development is working on a large affordable housing project nearby at Mill Pond Park called Bronx Point that would contain 1,045 residential units.

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