River Avenue Apartments Will Deliver Nearly 300 Affordable Homes in the Bronx
Project Advances Governor’s Commitment to Expanding Housing Supply and Making New York More Affordable
Governor Kathy Hochul today announced the groundbreaking of River Avenue Apartments II, a $225 million development in the West Concourse neighborhood of the Bronx that will create 292 affordable apartments, including 173 apartments with on-site support services. Under Governor Hochul’s leadership, New York State Homes and Community Renewal (HCR) has created or preserved more than 10,000 affordable homes in the Bronx. River Avenue Apartments II continues this effort and complements Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.
“This major investment in River Avenue Apartments is a perfect example of how we’re tackling the housing crisis,” Governor Hochul said. “The State, the City and our private partners are working hand-in-hand to create new opportunities for individuals and families to find an affordable home – we are strengthening neighborhoods, and we are ensuring residents have access to transportation, health care and modern amenities.”
River Avenue Apartments II, developed by Community Access and Blue Sky Bronx, will be affordable for households earning up to 80 percent of the Area Median Income. There will be a mix of studios, one-, two-, and three-bedroom apartments designed to meet the needs of individuals and families.
There are 173 supportive apartments reserved for eligible tenants including veterans with disabilities, individuals with mental illness, and formerly homeless individuals. On-site support services are provided by Community Access and include individual counseling, self-help groups, structured group activities, harm-reduction services, linkages with community mental health and health care providers, medication management assistance, and vocational and employment referrals.
The development includes fully accessible and adaptable apartments. There are 15 units to accommodate residents with mobility impairments and six units to accommodate residents with sensory disabilities.
The development’s features emphasize the outdoors and connections with nature, helping to reduce isolation and loneliness. There will be green space and an urban farm on the roof, a children’s play area, outdoor exercise equipment, and a meditation walking path. There will also be commercial space in the cellar that is intended to be occupied by a grocery store providing fresh food access to residents.
Strategically located along the River Avenue corridor, the development offers convenient access to public transportation, employment opportunities, healthcare, and neighborhood services. The project continues the transformation of River Avenue that has been ongoing since the new Yankee Stadium opened in 2009.
The all-electric building is designed to meet Energy Star Multifamily New Construction ERI Path Program criteria and will incorporate energy-efficient and sustainable design features including air water heat pumps, LED lighting, and low-flow water fixtures.
The project follows the $120 million River Avenue Apartments I, which was completed in March 2024 and features 245 affordable apartments, including 148 with supportive services for individuals and families experiencing homelessness.
State financing for River Avenue Apartments II will include New York State Homes and Community Renewal’s State and Federal Low Income Housing Tax Credit programs that are expected to generate approximately $90 million in equity and $60 million in subsidy; as well as $9.8 million from the New York State Office of Temporary and Disability Assistance’s (OTDA) Homeless Housing and Assistance Program. Rental and operating subsidies for 70 of the supportive units are funded through an Empire State Supportive Housing Initiative award administered by OTDA and 103 of the supportive units are funded through the New York City Department of Housing Preservation and Development’s NYC15/15 Rental Assistance program.
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