Olshan, O’Connor Complete Affordable Seniors Complex in Parkchester

Olshan Properties and O’Connor Capital Partners, in collaboration with New York City’s Housing Development Corporation and Department of Housing Preservation and Development (HPD), held the official opening of Parkchester Gardens, a 221-unit senior affordable housing development located at 1701 Purdy Str. in the Bronx’s Parkchester neighborhood. The first residents began moving into the building in late 2023, and additional move-ins will continue through 2024.

Residents will benefit from a Project-Based Section 8 contract, provided by HPD, that subsidizes their housing costs. In addition, 67 of the 221 residential units will house formerly displaced seniors.

“Olshan Properties and our partners at O’Connor Capital could not be happier to celebrate the completion of the Parkchester Gardens development,” said Zachary Bornstein, CEO, Olshan Properties. “Parkchester Gardens positively impacts the community by directly addressing the citywide housing affordability challenge. I am extremely grateful to our private and public partners for their invaluable contributions that have led to the project’s development and future success.”