Mayor sees NYCHA as city’s once-and-future developer.

Less than a week after one of Nathan Berman’s office-to-residential conversions threatened to collapse, his firm, MetroLoft Management, has closed on its next project.

The city of New York has closed on financing for Sol on Park, a $214 million, 229-unit affordable senior housing development in the Bronx. The development will be located in New York City Housing Authority’s Morris Houses campus, situated alongside its other two buildings.

The city of New York has closed on financing for Sol on Park, a $214 million, 229-unit affordable senior housing development in the Bronx. The development will be located in New York City Housing Authority’s Morris Houses campus, situated alongside its other two buildings.

Developers have secured a $214 million financing package for Sol on Park, an affordable housing development at 3728 Park Avenue in Claremont, The Bronx. Designed by Magnusson Architecture and Planning and developed through a partnership between NYCHA, the New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corporation (HDC), The NRP Group, Selfhelp Realty Group, and Foxy Management, the structure will deliver 229 permanently affordable apartments for older New Yorkers. The project is located at the northeast corner of Park Avenue and St. Paul’s Place, on New York City Housing Authority’s (NYCHA) Morris Houses campus.

Sol on Park will provide 229 affordable apartments for older New Yorkers on the Morris Houses campus in the Morrisania section of the Bronx.

New York City has closed on $214 million in financing for the construction of new affordable housing at the New York City Housing Authority’s (NYCHA) Morris Houses campus in the Bronx.

The neighborhood of Morrisania is slated to get 229 affordable homes for seniors, with 80 units reserved for NYCHA residents at Morris Houses, at a development dubbed Sol on Park.

NYCHA, HPD, and HDC closed on financing for Sol on Park, a $214 million project on NYCHA’s Morris Houses campus, after years of engagement with Morris residents since 2019.

On July 1st, Mayor Zohran Kwame Mamdani announced the financial closing for Sol on Park, a new affordable housing development that will create 229 affordable homes for older New Yorkers on the New York City Housing Authority’s (NYCHA) Morris Houses campus in the Bronx.