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New York & Tri-State  + Uptown/Bronx  + Apartments  | 

Affordable Co-op Breaks Ground in the Bronx

Groundbreaking has taken place for Sydney House, a 56-unit affordable development in the Williamsbridge section of the Bronx. Being developed by a partnership of the Almat Group and Habitat for Humanity New York City, it will be the largest multifamily project ever built by a Habitat for Humanity affiliate.

Sydney House also represents a couple of firsts. It will be the first project financed under the New York City Department of Housing Preservation and Development’s Open Door program, announced last year as part of Mayor Bill de Blasio’s Housing 2.0 plan to create and preserve 300,000 affordable homes by 2026.

For Almat, the project represents the “first step into the affordable housing arena, and we hope to bring more positive economic and social impact projects to the forefront in the future,” said principal Uche Alozie. Apartments at Sydney House will be for-sale co-op units, rather than rentals.

For comments, questions or concerns, please contact Paul Bubny

Connect

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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