Construction financing closed yesterday for a $164 million housing project that will create 323 units of affordable and supportive housing in Bedford Park.
The two 11-story buildings, dubbed CHV 202nd and 203rd Street, will be located at 261 East 202nd Street and 270 East 203rd Street. The project is being developed by CAMBA Housing Ventures, New York State Homes and Community Renewal and New York City Department of Housing Preservation and Development.
The new development will provide 194 homes with supportive services for seniors, veterans and individuals and families experiencing homelessness and living with mental illness. There are 129 apartments for families earning between 30 and 80 percent of the Area Median Income.
“Keeping the Bronx affordable, and the development of new affordable housing units, has been a priority of mine from the day I first took office,” said Borough President Ruben Diaz Jr. “The closing of construction financing for this $164 million affordable and supportive housing development in the Bedford Park neighborhood is a tremendous step in the right direction. I want to thank those who made this possible, and I look forward to the day many Bronx residents will have a new place they can call home.”
On-site social services will be available to all residents and include economic development services, education and youth development programming, family counseling and support, nutrition services, independent living skills, mental health care, substance abuse services and financial workshops.
Tenants at CHV 202nd and 203rd Street will enjoy a landscaped courtyard, 24/7 front desk security, local art and sculptures, six tenant parking spaces and access to a computer room, resident teaching kitchen, laundry and fitness rooms.
Construction is projected to be completed in early 2023. CHV, CAMBA, Bolivar Builders and the entire development team are committed to identifying local hiring opportunities and ensuring the development has a positive local economic impact during and after the construction period.
“Access to affordable housing is an ongoing crisis across the state,” said Senator Jamaal Bailey. “Projects like these are crucial in order to allow more New Yorkers access to a safe and habitable place to live. I would like to thank New York State Homes and Community Renewal, New York City Department of Housing Preservation and Development and CAMBA Housing Ventures for the construction of this affordable and supportive housing development.”
