Fully Affordable Senior Community Opens in the Bronx
Foxy Management developed the project.
Foxy Management has completed Garden Towers, a 149-unit affordable senior housing community in New York City’s Bronx borough. Foxy developed the $93 million project in partnership with HANAC Inc. and JLD Advisory LLC.

Newman Design provided architectural services and Lendlease served as general contractor. In fact, Garden Towers is the third affordable housing community developed by Foxy and Lendlease in the New York market.
Garden Towers will serve low-income individuals aged 62 and over, earning at or below 50 percent of the area median income. A total of 30 percent of the units will cater to homeless seniors, as the property was developed through the New York’s Department of Housing Preservation and Development’s Senior Affordable Rental Apartments program.
The community will provide on-site supportive services such as case management, meals and transportation, while the Hellenic American Neighborhood Action Committee will supply health-care services.
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The project received New York State Homes and Community Renewal financing which included $23.7 million in permanent tax-exempt bonds and federal low-income housing tax credits that will generate around $42.3 million in equity. A $9.3 million loan came from The Governor’s Office of Storm Recovery, while the New York City Department of Housing Preservation and Development provided $9.3 million through the Senior Affordable Rental Apartments program, as well as project-based Section 8 vouchers for all tenants.
Garden Towers also received financing from Boston Financial’s $221 million Low Income Housing Tax Credit fund that closed in September 2021. Consisting of 22 tax-credit investments, the fund aimed at financing more than 1,800 affordable housing units across 16 multifamily and six senior living communities.
A Bronx community with sustainability features

Garden Towers comprises two buildings of seven and eight stories, respectively, connected by a glass greenhouse that also serves as a walkway between the structures. Common-area amenities include multiple multipurpose rooms, a social services suite, a computer room, laundry facilities, indoor bicycle storage and parking spaces.
Designed to meet Enterprise Green Communities criteria and Passive House standards, the community features several sustainable elements such as a rooftop solar array, upgraded insulation, electric MEP systems and a central exhaust system that minimizes building penetrations and heat loss.
Located at 1323 Boston Road and 1332 Clinton Ave. in the Morrisania neighborhood, the property is within walking distance of several retail centers, dining options and green areas such as Crotona Park East and Claremont Park.