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3rd Avenue affordable
housing development planned
Councilman Torres and BronxPro Group’s Samantha Magistro discuss the planned project on Wednesday,
January 23. Photo by Silvio Pacifi co
BY PATRICK ROCCHIO
A planned housing development promises
to bring more affordable housing to
The project, with 53 units, is being
built on a currently under-utilized lot in
The eight-story building would offer affordable
units to a wide range of income
levels, including a set aside for the formerly
homeless, and employ innovative
environmentally sustainable construction
Councilman Ritchie Torres and Bronx
Pro Group revealed renderings of the development
during a press conference at
the site on Wednesday, January 23.
When its completed, Dreamyard will
paint murals and artwork at the site to inspire
its residents, the councilman said.
The housing complex at 4697 Third Avenue
still requires additional state fi nancing.
Bronx Pro Group, the winner of a
Department of Housing Preservation and
Development Request for Proposals for a
design, is in the process of applying for the
additional fi nancing, said representatives
of the company.
Torres said that the borough is the most
rent-burdened in the city, and in Fordham
over 50 percent of the population is paying
more than 50 percent of their monthly income
just to cover rent or housing costs.
“On my recommendation, the NYC City
Council voted to approve a disposition of
land to Bronx Pro so that it could create
state of the art affordable housing.” said
Torres. “The affordable housing complex
represents a $32.6 million investment of
both public and private capital.”
The project would have about 9,500
square feet of commercial space, and
would be both mixed use and mixed income
serving a range of incomes, said
“You will have units for working class
and middle class families, but you will
also have units for the poorest New Yorkers,”
said Torres. “Some of the units could
have rents as high as $2,000 (a month) and
as low as $200.”
Total residential space would be about
53,000 square feet, according to company
Residential amenities will include a
2,300 square foot terrace with playground,
exercise room and laundry room, as well
as a variety of different amenities.
The councilman expressed his belief
that housing should not only be affordable
but also beautiful.
“I think we are intent on creating a development
that is going to transform the
psychology of the neighborhood and give
people a sense of pride in their community,”
said the councilman, adding that
the plan would transform a blighted vacant
Representatives from Bronx Pro Group,
a for-profi t mission-driven development
company, said that they expect the building
on the 9,541 square foot lot to be very
energy effi cient.
Bronx Pro plans on utilizing The International
Passive House standard for
energy effi cient construction that mandates
buildings use little extra energy to
achieve a comfortable temperature during
hot and cold weather, company representatives
This can be achieved through roofi ng
and insulation, they said.
The company hopes that the development
will be a catalyst for the future revitalization
of this stretch of 3rd Avenue,
said Jaye Fox, Bronx Pro Group director
It could be completed in 2021 if everything
goes according to plan, Bronx Pro
Group representatives said.