Four Affordable Builds To Bring $29M in Revenue

BRONX, NY-More than 1,000 units of affordable housing will be developed on four New York City Housing Authority sites in the South Bronx by five teams, the New York City Department of Housing Preservation and Development commissioner Shaun Donovan and NYCHA chairman Tino Hernandez revealed Tuesday. The sites will bring in an estimated $29 million in revenue to the Housing Authority, “a critical component in preserving public housing in a time of diminishing Federal spending,” according to a statement.

Blue Sea Development was selected as the lead developer of a 101-unit building on the grounds of the NYCHA-owned Forest Houses; Dunn Development Corp. was selected as the lead developer of 220 units on the grounds of Highbridge Gardens; the TNS Development/CPC Resources/Lemle & Wolff team was revealed as the lead developer of 236 units of new housing on the grounds of Soundview Houses; the Arista team was selected as the lead developer of a 290-unit renovation of six NYCHA-owned buildings in the University Heights area; and Bronx Pro was selected as the lead developer of a 173-unit renovation of four more NYCHA-owned buildings in the University Heights area.

In selecting the development teams for the South Bronx sites, “preference was given to developers who proposed a range of affordability with competitive acquisition prices and the least amount of City subsidies, while maintaining the highest standards in sustainable design and quality of construction,” according to a prepared release. “As the City’s population grows and the need for affordable housing increases, one thing that remains fixed is the supply of available land,” says HPD commissioner Shaun Donovan, in the release. “This is why it is so important that we make full use of underutilized properties owned by city and state agencies. These new sites will provide affordable units for hard working low- and moderate-income-families.”