“The overall funding includes $325 million for the building along with $25.5 million for the waterfront esplanade’s construction from the New York City Economic Development Corp. The Wall Street Journal reported some of the financing comes from state grants, equity from the developers and federal tax credits and Brownfield tax-credit equity from Wells Fargo.”
“Located on city-owned land near the 145th Street Bridge, the mixed-use development will transform a dirt tract into a new community of over 1,000 affordable apartments with three-acres public open space and cultural and community-focused spaces that include a permanent home for the Universal Hip-Hop Museum, an early childhood space and outdoor science programming.”
The Bronx Point development will include 542 units of affordable housing, approximately 2.8 acres of public open space, and a permanent home for the Universal Hip Hop Museum.
Construction on affordable housing development Melrose North is slated to begin in January 2021. The $92 million Melrose North project will provide 171 units of supportive and affordable housing to the South Bronx neighborhood of Morrisania.
Construction topped out recently at 980 Westchester Ave, which will be known as Tiffany Court Plaza. The seven-story mixed-use building will include affordable and supportive housing, as well as 28,000 square feet of commercial space.
Hunter’s Point South ‘Parcel G,’ a mixed-use development including affordable housing, is nearing construction topping out. The 33-story tower will also include a community facility.
Congratulations to WXY Architecture, Body Lawson Associates, and Elizabeth Kennedy Landscape Architect for winning the 2020 Architectural News Best of Design Awards in Urban Design for The Peninsula, and to Handel Architects for earning an honorable mention in Mixed-Use Residential for the Essex at Essex Crossing. You can view the full list here.