2605 Grand Concourse

Organization Name: Douglaston Development

Project Title: 2605 Grand Concourse

Project Location: 2605 Grand Concourse, Bronx, New York

Project Goals:
Douglaston Development’s 2605 Grand Concourse aims to provide workforce housing in the Bronx along the storied Grand Concourse. Our aim was to acquire and finance an environmentally conscious project that would provide homes to low and middle-income residents.

Project Description:
2605 Grand Concourse, one of the first ground-up residential projects on Grand Concourse in decades, is a 12-story mixed-income development with an expected completion of Spring 2018. The building provides 94 affordable units ranging from studios to 3-bedroom layouts and includes a rooftop and backyard for residents’ enjoyment. The design of the building is an homage to the Art Deco architecture seen along the Grand Concourse, creating a structure that fits well within the context of its neighbors. The building will meet top standards of environmental and energy efficiency, participating in Enterprise Green Communities and the New York Energy Smart Program. The development was made possible through 421(a) tax abatement benefits and is one of the first implementations of HPD and HDC’s Mixed-Middle-Income (M2) Program. The affordability band include 25% of the units affordable to households at or below 60% AMI and 75% of units affordable between 80-130% AMI.

Community Impact:
Douglaston Development privately purchased this long vacant site and developed it into an architecturally appropriate community asset. The building will offer studio to three-bedroom homes to residents. 2605 Grand Concourse provides low and moderate-income housing on the famed Grand Concourse to residents ranging from 60% to 130% of AMI. The building includes parking and outdoor amenities for mixed-income residents steps from convenient subway, bus, and commuter rail transportation as well as in close proximity to retail on Fordham Road. Residents also benefit from adjacent neighborhood parks, St James and Poe.

Organization Description:
Douglaston Development has over 40 years of experience in affordable housing development and a long-standing partnership with the City through our core affordable housing practice. Douglaston Development has developed nearly 3,000 low and mixed-income developments with HPD and HDC’s financing, including our most recent Crossroads project with 425 units, 60,000 square feet of ground floor commercial space, and below-grade parking spaces located in Mott Haven, Bronx.