New York Governor Kathy Hochul announced the start of construction on River Avenue Apartments II, a $225 million affordable housing project in the Bronx's West Concourse neighborhood. The development will deliver 292 rental units, including 173 supportive apartments for veterans, individuals with mental illness, and those who have experienced homelessness.
What Happened
The project is led by Community Access and Blue Sky Bronx and targets households earning up to 80% of Area Median Income. It includes studios and one- to three-bedroom units, with 21 fully accessible apartments for residents with mobility and sensory disabilities. The building features green spaces, a rooftop urban farm, and a basement grocery store to improve resident amenities.
Why It Matters for the AECM Industry
This $225 million initiative is part of New York State's $25 billion, five-year housing plan to create or preserve 100,000 affordable homes. The project uses state financing from Low Income Housing Tax Credit programs, generating approximately $90 million in equity and $60 million in subsidies. Its all-electric design incorporates energy-efficient technologies like air water heat pumps and LED lighting, aligning with Energy Star Multifamily New Construction ERI Path Program standards.
What's Next
Construction follows the recent completion of River Avenue Apartments I, a $120 million project with 245 affordable homes. River Avenue Apartments II will continue redevelopment efforts along the River Avenue corridor, with completion expected in the coming years. Rental and operating subsidies will support 173 units through multiple state and city programs, ensuring long-term affordability and supportive services.
Source: https://www.worldconstructionnetwork.com/news/new-york-residential-project-bronx/. Read the original story →
