Douglaston Development Tops Out Bronx Senior Housing Project
Located next to the New York Botanical Garden, the community will provide units for residents earning 50 percent of AMI.
Douglaston Development has reached a major construction milestone for the first phase of its affordable senior housing project in the Bronx, N.Y. The developer topped out the 188-unit community located at 2856 Webster Ave. and is expecting to complete it in March 2023.
The senior housing community will be the first phase of Douglaston Development’s two-phase project next to the New York Botanical Garden (NYBG). The units will be designated as affordable senior housing for those earning up to 50 percent of the area’s median income. Douglaston is planning to include a 12,000-square-foot Cherry Valley Marketplace supermarket and on-site social services in partnership with Fordham Bedford Community Services as part of the community.
Both phases of Douglaston Development’s project are located on a more than 1-acre parcel of land that’s owned by the NYBG. The developer started working with the organization after a request for proposals process where NYBG selected Douglaston Development and its project. To get the project started, the development company entered into a 99-year lease with the NYBG in 2020.
Douglaston Development put Levine Builders, its general contracting and construction management affiliate in charge of project construction. The developer tapped Stephen B. Jacobs Group as the project’s architect. The project also landed $60 million in construction financing in January 2021, prior to its groundbreaking.
TWO PHASES OF AFFORDABLE HOUSING
Douglaston Development is planning a second phase to complete the project, which will be another community located at 410 Bedford Park Blvd. The second phase will bring approximately 260 units of affordable housing, along with more ground floor retail space.
Outside the Bronx, Douglaston Development is also working alongside Empire State Development Corp., New York State Homes and Community Renewal, and Breaking Ground on a $1.4 billion initiative to build 900 affordable units in Brooklyn’s East Flatbush neighborhood. While most of its projects are in New York City, Douglaston Development’s portfolio includes properties in Arizona, Washington and the U.K.