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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.
- ◦Development
