North Cove Apartments

Organization Name: Joy Construction Corp. & Maddd Equities

Project Title: North Cove Apartments

Project Location: 375 West 207th Street, Inwood, New York

Project Description:
North Cove is a mixed income/use development in the Inwood neighborhood of northern Manhattan. Situated at 375 West 207th Street, the development is approximately 600,000 square feet and will consist of 611 income restricted/affordable residential units and 61,000 square feet of commercial space as well as 120 parking spaces. The residential units will be available to tenants earning between 27%-100% of Area Median Income and will have a set aside 126 units for formerly homeless tenants .The development, a joint venture between Joy Construction and Maddd Equities, replaces former bus parking lot with a vibrant residential waterfront community.

Community Impact:
Enhancing the community benefits of the development, the developers secured 35,000 square foot Food Bazaar supermarket as a tenant for the property to serve the grocery needs of this newly residential area. Additionally, North Cove prioritizes public access to the waterfront by integrating waterfront public space that was designed to enhance the existing natural ecosystems of the property. Construction of the building created job opportunities for MWBE companies and utilizes Enterprise Green Community energy efficiency design standards.

Organization Description:
Joy Construction is a full-service general contracting and development firm primarily focused on multifamily and commercial projects throughout New York City. Maddd is a full service MWBE real estate development firm with expertise in a broad range of real estate disciplines including investment, development, construction and asset management.

Team Members:

Joy Construction Corp. & Maddd Equities
The Wavecrest Management Team & Pronto Housing
Settlement Housing Fund
NYC HDC, HYC HPD, Wells Fargo