Affordable developer Foxy Management lands $72M in financing for Bronx project
Money comes from New York State and New York City
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.