Affordable developer Foxy Management lands $72M in financing for Bronx project

Money comes from New York State and New York City

TRD New York /
Dec.December 28, 2018 02:00 PM

612 East 179th Street in the Bronx and Jeff Fox (Credit: Google Maps and Foxy Management)

Foxy Management has closed on roughly $72.15 million in financing from the state and city for a senior housing building it has planned for the Bronx.

The money is for Foxy Management’s planned 177-unit building at 612 East 179th Street in Tremont, known as Arthur Avenue Apartments. The package includes about $58.5 million from the New York State Housing Finance Agency and $13.78 million from the city’s Department of Housing Preservation and Development.

The building will stand nine stories tall and be located across 612 East 179th Street, 2010 Arthur Avenue and 2016 Arthur Avenue. It will span more than 120,000 square feet.

Foxy Management, led by principals Jeff and Shelly Fox, also has a 168-unit senior housing project at 1880 Boston Road in the West Bronx.

Related Articles

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

U.S. Rep. Alexandria Ocasio-Cortez and Sunnyside Yards (inset) (Credit: Getty Images and Wikipedia)

AOC resigns from Queens megadevelopment steering committee

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Donald Trump with Rep. Emanuel Cleaver II, Rep. Ron Kind and Sen. Cory Booker (Credit: Getty Images, iStock)

Trump’s Opportunity Zone program is under investigation

Rafael Salamanca and the Bronx (Credit: Getty Images, iStock)

Bronx councilman snuffs out another de Blasio rezoning