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

Money comes from New York State and New York City

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

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 
Prana pays Related $36M in Bronx multifamily play
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
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
Maddd Equities, Joy Construction score $64M for massive Bronx project
Major real estate stocks ended in negative territory this week. (Getty)
Real estate stocks, markets jittery over inflation
Real estate stocks, markets jittery over inflation
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Joel Landau, chairman and founder of Allure Group. (Google Maps, Score NYC)
These were the top outer-borough loans last month
These were the top outer-borough loans last month
David Schonbraun (SL Green)
SL Green investment chief David Schonbraun steps down
SL Green investment chief David Schonbraun steps down
Queens Borough President Donovan Richards in front of Willets Point. (Office of Queens Borough President, WikiMedia / Jim.henderson)
Willets Point redevelopment finally moves ahead
Willets Point redevelopment finally moves ahead
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...