Press | May 1, 2005

Affordable, Mixed-Use Community Breaks Ground in the Bronx

Multi-Housing News

 

Parkview Commons. a new mixed-use affordable housing development in the South Bronx, has broken ground, according to Magnus Magnusson, principal of Magnusson Architecture and Planning (MAP), its architect.

 

The nine-story apartment building is in the Melrose Commons Urban Renewal Area, a 35-block area that has been stunningly transformed during the last decade.

 

The building is scheduled for occupancy in mid-2006 and will contain 110 rental apartments for low-income households, 8,000 square feet of retail space and 29 parking spaces. It is part of a joint venture created by local activist Yolanda Garcia, who recently passed away, and the neighborhood group she headed, Nos Quedamos (We Stay); Melrose Associates LLC; and L&M Equity Participants Ltd. The builder is L&M Builders LLC.

 

Rents are expected to start at $620 for a one-bedroom and go up to $930 for a three-bedroom. Residential amenities include a community room, a landscaped recreational open space and a ground-floor laundry space that faces the outdoor playground area for residents.

 

The second phase of the development, Parkview Commons II, will break ground later this year. The mixed-use project encompasses 88 rental units and 6,500 square feet of retail.