New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Uptown/Bronx  + Apartments  | 
River Crest Apartments Bronx Aufgang Architects

Development Partners Break Ground on Affordable Complex in Bronx’s Jerome Avenue Corridor

Maddd Equities, Joy Construction, the Department of Housing Preservation and Development (HPD), the Department of City Planning, Council Member Vanessa L. Gibson and Bronx Community Board 4 recently broke ground on the final phase of a significant number of new affordable homes on River Avenue.  

River Crest Apartments, between 167th and McClellan streets, is within the Jerome Avenue Corridor, a transit-rich area of the Bronx that was rezoned in 2018. 

Together with 245 affordable apartments at neighboring 1159 River Avenue, also under construction and developed with nonprofit partner Community Access, these buildings will bring 745 affordable homes to the street.   

Maddd Equities and Joy Construction are contributing 745 of the projected 3,000 new housing units to the area, which the neighborhood rezoning enabled. With recent financing from the HPD, Wells Fargo, and the NYC Housing Development Corporation, work on the final phase of the River Crest development can be completed. 

Connect

Inside The Story

Maddd Equities

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

  • ◦Development
Contracoin-01b-cube