Real Estate Updates

SoBRO’s Real Estate Development Department is excited to share our progress on three new housing developments in the Bronx and Upper Manhattan: Crotona Terrace, Belmont Commons and Fort George Hill. The Crotona Terrace Boston Housing Development project and the Belmont Commons East 188th Street Apartments, both located in the Bronx, are under construction and anticipating tenants by July 1, 2015. Currently in the pre-development phase, the Fort George Hill project will be located in Upper Manhattan.

Crotona Terrace

Crotona Terrace is an eight story building bordered by Boston Road on the East, Crotona Park South on the West, East 176th Street on the North and East 175th Street on the South. When completed, the project will consist of 185 units of rental apartments made affordable to low, moderate and middle income households earning between approximately $28,000 and $80,000 annually. SoBRO, with the support of community stakeholders, rezoned this block, the former location of a trolley repair yard, for residential use. The Department of City Planning as well as Community Board 3 were proponents of the zoning change.

Belmont Commons is a 9-story, 40 unit affordable housing development located at East 188th Street between Bathgate and Washington Avenues. The project is located within walking distance of several major cultural and educational institutions such as Fordham University, the Bronx Zoo, and the New York Botanical Gardens. St. Barnabas and Union Hospitals and the Fordham Plaza Shopping District are within a half mile radius. This new construction of an approximately 38,000 square foot residential structure will offer 40 rental apartments affordable to families earning no more than 80% of area median income, or the equivalent of $64,000 for a family of four. 15% of units will be reserved for formerly homeless families. The project will be LEED-certified for long-term sustainability.

Upon completion, Fort George Hill will be a mixed-use development at the intersection of Fort George Hill, Hillside Avenue, and Dyckman Street in the Washington Heights/Inwood section of Upper Manhattan. The project will yield 113 units of apartments, with approximately 10,000 square feet of community facility on the ground floor where Movimiento Mundial Church will relocate their church, administer a licensed, full‐time day care and a food‐pantry program. Meeting spaces within the church facility can also be made available for various public and private community events. Residents will have access to 57 automated parking spaces located underground. The project will be built to meet NYSERDA MPP and Enterprise Green Communities certification standards, with energy efficiency features and a roof garden for recreational and irrigation purposes.

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SoBRO’s mission is to enhance the quality of life in the South Bronx by strengthening businesses and creating innovative economic, housing, educational, and career development programs for youth and adults.

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