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January 4, 2021
A public-private partnership of L + M development partners, Type A projects, BronxWorks, and the City of New York completed $ 349 in funding for the first phase of Bronx Point, a mixed-use development on the Harlem River coast in the United States Million USD from South Bronx. Construction work for the first phase is expected to begin in the coming weeks and be completed by the end of 2023.
The first phase of Bronx Point will deliver 542 permanently affordable housing units to the Lower Concourse neighborhood, approximately two acres of public space and a range of cultural and community-based programs, including a permanent home for the Universal Hip-Hop Museum.
“This public-private partnership will provide high quality, affordable housing, a beautifully restored boardwalk that connects the community to the waterfront, and a unique cultural facility that highlights the vibrant South Bronx community’s historical contributions to music,” said Vicki Been . Deputy Mayor for Housing and Economic Development.
Photo credit: S9 Architecture.
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Tags: Affordable, Apartments & Apartment Buildings, Development, Financing
affordable housing development finance
Phase 1 financing of Bronx Point Garners US $ 349 million