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Developer Property Resources Corporation has filed two building applications for new affordable rental buildings in the Longwood area of the South Bronx, near the Simpson St stop on the 2 and 5 trains.
The larger of the two buildings, at 1000 Fox St, would be eight stories and include 120 apartments. Each apartment would be roughly 952 SF, according to New York YIMBY.
The building would also include a laundry room, gym and lobby area, as well as bike storage and parking in the cellar. The developers appear to be banking on City Hall’s proposed zoning regulations that eliminate parking requirements for affordable projects, as the project calls for a total of only 36 parking spaces.
The second building is a block over at 960 Simpson St and would rise six stories, containing 80 units within 73k SF. The average size of each apartment would be 915 SF and cellar parking would hold 24 cars.
The proposed buildings lie within the lot of a Section 8 housing complex, the Maria Estela Houses, which includes four six-story buildings with a total of 236 apartments. Property Resources bought the affordable development for $18M in 2012. [NYY]
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