The New York State Homes and Community Renewal, the New York City Department of Housing Preservation and Development and Douglaston Development have announced the closing of construction financing for a 188-unit affordable senior housing development in the Bedford Park area of the Bronx.
The development will include a new supermarket on the ground floor that will offer the community access to healthy, affordable food.
Construction is slated to begin in the spring of 2021 on the $93.5 million project located at 2856 Webster Ave., land owned by The New York Botanical Garden.
The New York Botanical Garden selected Douglaston to lead the development process and executed a 99-year ground lease with Douglaston in August of 2020.
This is the first phase of a two-phase development that will include a future affordable mixed-use development at the adjacent 410 Bedford Park Boulevard.
“The Webster Avenue development is the result of a unique opportunity to transform an underutilized lot owned by The New York Botanical Garden into 188 affordable apartments for seniors,” stated HCR Commissioner RuthAnne Visnauskas.
“This development will help meet a growing need for safe, modern homes for New Yorkers to age in place. Residents will have convenient access to a ground-floor grocery store, on-site social services, and everything The New York Botanical Garden has to offer. As we carry out Governor Cuomo’s ambitious housing plan, we are committed to building and preserving affordable homes and combatting homelessness in every neighborhood of the Bronx, in New York City, and across the state,” Visnauskas added.