Elected officials and community leaders have joined forces with Camber Property Group to commence Phase 1 of the Stevenson Square affordable housing development in the Bronx, which is estimated to cost $1 billion. The groundbreaking ceremony marks a significant step towards addressing the pressing need for affordable housing in this area.
The first phase of this ambitious project will see a six-story building, known as Building 4, being constructed at an expense of $76 million. This structure will offer 117 studio rental units that cater specifically to senior citizens. Additionally, there will be another development worth $49.5 million that aims to create 58 co-op units through a partnership with Habitat for Humanity.
According to Rick Gropper, Principal at Camber Property Group: “Breaking ground on Stevenson Square represents the start of a transformational public-private partnership aimed at providing much-needed affordable housing options for Soundview residents.” He further adds that this initial phase is expected to bring about positive changes by offering both rental and homeownership opportunities while strengthening ties within the community.
Construction work on these developments is slated for completion by January 2026.
