October 17, 2023
New York— All approvals have been granted for the largest new construction, affordable housing project in the Bronx under the Adams administration. Known as the Sheridan Riverwalk, the New York City Council gave the green light last month, voting 47-0, on Simone Development’s proposal to create over 800,000 square-feet of residential and commercial property in the Bronx, bringing close to 1000 permanently affordable homes.
Simone Development’s project helps New York City address an increasingly urgent housing crisis. As one of the largest affordable housing applications approved this year, the project will provide accessible homes for those who need it most, including essential workers such as firefighters, teachers and union laborers. The project calls for 40% of the homes to be accessible to individuals earning up to $49,000 each year and 60% for individuals earning between $49,000 and $108,000 annually. The planned development consists of three cohesive buildings and access to new open space for public recreational use along the Bronx River.
Simone Development is long-time owner of the site, which is located at 1460 and 1480 Sheridan Expressway in the Crotona Park East neighborhood in the Bronx. Stroock served as land use and zoning counsel for the property’s rezoning application, including a zoning text amendment for the creation of a Waterfront Access Plan and a rezoning from manufacturing to residential. The team included Ross Moskowitz, John Egnatios-Beene and Rusty Pomeroy. Ross Moskowitz, Stroock partner and head of the firm’s land use and zoning practice, reflects upon working with the family-owned, real estate company, “Stroock is quite proud to collaborate with Simone Development on its vision and quest to support the Bronx community and help alleviate some of the pressure that the burgeoning housing crisis is placing on New York City residents. Being involved in this transformative project is extremely exciting and inspirational because we are not only helping Simone achieve its business goals, but also because together we are making a positive impact on the city’s residents that will provide ongoing benefits well into the future.”
Click here to read the full press release from Simone Development.
October 17, 2023
New York— All approvals have been granted for the largest new construction, affordable housing project in the Bronx under the Adams administration. Known as the Sheridan Riverwalk, the New York City Council gave the green light last month, voting 47-0, on Simone Development’s proposal to create over 800,000 square-feet of residential and commercial property in the Bronx, bringing close to 1000 permanently affordable homes.
Simone Development’s project helps New York City address an increasingly urgent housing crisis. As one of the largest affordable housing applications approved this year, the project will provide accessible homes for those who need it most, including essential workers such as firefighters, teachers and union laborers. The project calls for 40% of the homes to be accessible to individuals earning up to $49,000 each year and 60% for individuals earning between $49,000 and $108,000 annually. The planned development consists of three cohesive buildings and access to new open space for public recreational use along the Bronx River.
Simone Development is long-time owner of the site, which is located at 1460 and 1480 Sheridan Expressway in the Crotona Park East neighborhood in the Bronx. Stroock served as land use and zoning counsel for the property’s rezoning application, including a zoning text amendment for the creation of a Waterfront Access Plan and a rezoning from manufacturing to residential. The team included Ross Moskowitz, John Egnatios-Beene and Rusty Pomeroy. Ross Moskowitz, Stroock partner and head of the firm’s land use and zoning practice, reflects upon working with the family-owned, real estate company, “Stroock is quite proud to collaborate with Simone Development on its vision and quest to support the Bronx community and help alleviate some of the pressure that the burgeoning housing crisis is placing on New York City residents. Being involved in this transformative project is extremely exciting and inspirational because we are not only helping Simone achieve its business goals, but also because together we are making a positive impact on the city’s residents that will provide ongoing benefits well into the future.”
Click here to read the full press release from Simone Development.
