More affordable housing is coming to the Bronx.<\/p>\n
The city is partnering with developers Dynamic Star<\/a><\/b> and Lettire<\/b> Construction<\/b> on a new project called Fordham Landing South<\/b>, which would create 927 affordable homes and public waterfront access along the Harlem River in the Bronx, according to a Friday announcement from New York Mayor Eric Adams<\/b>.<\/p>\n SEE ALSO: AllianceBernstein Takes Over D.C. Office-to-Resi Site at Second Foreclosure Auction<\/a><\/p>\n The project also calls for the construction of two mixed-use buildings, parking spaces, a new road and new access to the Metro-North Railroad<\/b> to redevelop \u201can underused stretch\u201d of the Harlem River immediately south of the University Heights Bridge<\/b>, the announcement said.<\/p>\n The 927-homes part of Fordham Landing South \u2014 which would be 100 percent affordable \u2014 would serve a mix of income levels, with at least 15 percent of the units dedicated to formerly homeless families, according to the announcement.<\/p>\n \u201cWhen we took office three years ago, our housing situation was at a breaking point: Too many families were being pushed out of the housing market and too many plots of land like this one lay empty,\u201d Adams said in a statement. \u201cOur administration turned inaction into initiative, shattering affordable housing records year after year after year and passing the first citywide rezoning in six decades to unlock new housing across every neighborhood.\u201d<\/p>\n The Bronx project is set to be financed by the New York City Department of Housing Preservation and Development<\/a><\/b> and through a $55 million award from the state administered by Empire State Development<\/a><\/b>, according to the announcement.<\/p>\n \u201cWith today\u2019s announcement, the long-held dream of transforming this neglected stretch of Bronx waterfront into a vibrant, accessible community is finally becoming a reality,\u201d Gary Segal<\/b>, co-founder and CEO of Dynamic Star, said in a statement. \u201cWhat was once deserted will soon be a destination \u2014 a place where families can live, work, and thrive for generations to come.\u201d<\/p>\n Nick Lettire<\/b>, president at Lettire, added that Lettire is \u201cgrateful\u201d to bring \u201chigh-quality and sustainable affordable housing to the Bronx.\u201d<\/p>\n News of the project comes after Adams, along with Hudson Companies <\/b>and BRP Companies<\/b>, announced in June that La Central<\/b>, an affordable housing development at 626 Bergen Avenue<\/b> in the Bronx, had broken ground, as Commercial Observer previously reported<\/a>.<\/p>\n Also in June, Adams announced plans with developer BFC Partners Development<\/b> to build roughly 1,100 homes in Brooklyn\u2019s Coney Island, CO reported<\/a>.<\/p>\n