Organization Name: Phipps Houses, Briarwood Organization, CPC
Project Title: Elton Crossing
Project Location: Melrose, Bronx
Phipps Houses, the Briarwood Organization, and CPC Resources are proud to present Elton Crossing a new mixed-use project in the Melrose Section of The Bronx. The project has 199 apartments and 8,600 sq. ft. of commercial space. The site was previously vacant with an abandoned warehouse that required abatement and demolition. The site also participated in the NYS Brownfield Cleanup Program. The apartments are all affordable/workforce units consisting of 7 studios, 79 one-bedrooms, 96 two-bedrooms and 17 three-bedroom apartments. Amenities include a courtyard, rooftop patio, fitness room and solar power. With monthly rents from $396, all the apartments are affordable & are economically diverse with 15 units at 30 % AMI, 23 units at 40% AMI, 23 units at 50% percent AMI, 90 units at 60% AMI & 47 units at 100% AMI. The project utilizes various funding sources: Low Income Housing Tax Credits, NYC HDC bonds, NYC HPD subsidy, bank funding, letter of credit & developer loans. The building is “Green” by exceeding Enterprise Green Communities w/ HPD overlay, NYSERDA MPP Program & utilizing solar power & high efficiency appliances.
The development is built on formerly vacant land that is located on a highly visible corner with a NYC MTA bus stop in front of the project. The building is also located directly across from Boricua College on busy Elton Avenue. The project’s residential entrance is on East 162nd Street, formerly a dead-end cul-de-sac, which is now opened to Elton Avenue providing convenient passage for both pedestrians and vehicular traffic.
Aesthetically, the project is a beautiful modern building with curved façade of multi-colored brick panels and modern glazing. The street walls of varying height and new commercial space will enliven the entire corner and make for a safer place for the public to access mass transit. Elton Crossing received support from a number of community, borough & citywide leaders, including Bronx Borough President Ruben Diaz, Jr. & others.
Elton Crossing is providing 198 families with safe, new, state of the art housing that would otherwise be unaffordable on formerly unutilized land. The commercial space will be occupied by an Urgent Care provider that will bring greatly needed medical services to the entire community.
Phipps Houses is the nation’s oldest and one of its largest not-for-profit affordable housing developers, owners and managers, having developed approx. 9,000 affordable housing units, over 8,200 of which are still Phipps owned and managed. Briarwood since 1912 has evolved into a major developer with over 5,000,000 square feet of residential, retail & office space, with capabilities in real estate development, general contracting & management. CPC Resources is the development arm of the Community Preservation Corporation.
Phipps Houses, The Briarwood Organization, LLC & L. Riso & Sons, Co., Inc. (GC), CPC Resources, Magnusson Architects, Steven Winter, NYC HDC, NYC HPD, Bank Of America, Bronx Borough President, NYS DEC