Bronx affordable housing megaproject along Sheridan Expressway makes progress
In early 2013, a group of developers announced plans to move forward with the redevelopment of a stretch of industrial buildings along the Sheridan Expressway in the Bronx, into a massive affordable housing complex . Since then, four buildings of a total eight have been built as part of this megaproject. This week, developers filed plans for a fifth building, The Real Deal reports. This new building will be located at 1560 Boone Avenue, stand 16-stories tall, and bring 366 apartments to the neighborhood. The first two buildings that opened at the megaproject in November last year had a total of 237 apartments and were open to New Yorkers making between $28,835 and $52,389 annually. The project, known as Compass Residences, is a collaboration between Monadnock Construction, Signature Urban Properties and GTIS Partners. It will eventually bring over 1, 300 affordable apartments to the Crotona Park East and West Farm neighborhoods , in the Bronx. When it was announced in 2012, plan...