Partnership secure $350 million for South Bronx mixed-use development

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A public-private partnership of L+M Development Partners, Type A Projects, BronxWorks and the City of New York will build 542 units of affordable housing in the South Bronx.

The partnership has secured $349 million in financing to begin the long-awaited Bronx Point project, reports Multi Housing News.

They will construct the units in the first phase of Bronx Point, a 530,000-sq.-ft. mixed-use development. Construction on the 22-story apartment building and other elements of the project is expected to begin within the next few weeks and be completed by late 2023.

Bronx Point will also include more than 56,000 sq. ft. of educational and community space and more than 12,000 sq. ft. of retail space. The project’s second phase is slated to include additional housing units for an overall total of 1,045 apartments and additional retail and community space.

The design of the building is being led by S9 Architecture and Engineering, with open space design by Marvel Architects in collaboration with Abel Bainnson Butz.

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