Thursday, November 21, 2013

Construction to Start on $80M Soundview Housing Project

The first phase of construction at a new affordable housing community in the Bronx has begun. The NYCHA has broken ground on Soundview Family Housing; an eight-story building that will house 120 low-income families, and is the first in a multi-phase development.  A second phase of the project, that would provide 86 units of affordable senior housing, is expected to break ground by the end of December. A third phase would create 16 two-family market-rate townhouses.

A joint venture between L + M Development and The New York Housing Partnership, the $80 million housing project will be developed under the New Housing Marketplace Plan, Mayor Bloomberg’s multi-billion initiative to finance 165,000 units of
low-income housing by the end of 2014.

Soundview Family Housing will be located at 1610 Randall Avenue next to Soundview Park, a 205-acre green public space along the Bronx River.

Scheduled to be built in three phases, Soundview Housing will provide 206 units of affordable housing for the borough’s low-income families.

The project’s first and largest stage of construction will cost $46.9 million to build.

Phase I will include 24 one-bedroom, 78 two-bedroom and 18 three-bedroom apartments.

Construction is slated to be completed by fall 2015.

The second phase of the project, a $34 million complex called Soundview Senior Housing, will break ground by the end of this year and will include 86 affordable senior housing units.

Phase III of construction, which would comprise 16 two-family market-rate townhomes, will be developed depending on market conditions.

The development site, which is also a stone's throw from the Bronx River and a city composting facility, is a strip of vacant land owned by NYCHA, and wraps around three-quarters of the authority's Soundview Houses complex starting from the corner of Rosedale and Lacombe avenues.

Designed by Magnusson Architecture and Planning to reference mid-20th century brick structures already existing in the area.

The eight-story building will comprise 120 rental units of various sizes which will be available to families earning less than $51,540 annually for a family of four.

Residents will also have access to 42 parking spaces.

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