Governor Kathy Hochul announced on March 31 the groundbreaking of River Avenue Apartments II, a $225 million development in the West Concourse neighborhood of the Bronx that will create 292 affordable apartments. Of these, 173 apartments will include on-site support services. The initiative is part of New York State’s broader efforts to address housing needs and follows Governor Hochul’s five-year, $25 billion Housing Plan aimed at creating or preserving 100,000 affordable homes statewide.
The project is intended to help alleviate the ongoing housing crisis by providing more options for individuals and families seeking affordable homes. Governor Hochul said, “This major investment in River Avenue Apartments is a perfect example of how we’re tackling the housing crisis. The State, the City and our private partners are working hand-in-hand to create new opportunities for individuals and families to find an affordable home – we are strengthening neighborhoods, and we are ensuring residents have access to transportation, health care and modern amenities.”
River Avenue Apartments II is being developed by Community Access and Blue Sky Bronx. It will offer a range of apartment sizes for households earning up to 80 percent of the Area Median Income. Among its features are fully accessible units for people with mobility or sensory impairments as well as green spaces including an urban farm on the roof.
Supportive services at this site will be provided by Community Access and include counseling, group activities, harm-reduction services, connections with healthcare providers, medication management assistance, and vocational referrals. The building will also have commercial space designed for a grocery store offering fresh food access.
Funding sources include New York State Homes and Community Renewal’s Low Income Housing Tax Credit programs generating about $90 million in equity; $60 million in subsidy; nearly $10 million from the Office of Temporary and Disability Assistance’s Homeless Housing program; plus rental subsidies through state initiatives. Local leaders such as RuthAnne Visnauskas from HCR praised these efforts: “River Avenue Apartments II reflects Governor Hochul’s commitment to increase the affordable housing supply in the Bronx… We thank our partners for their continued collaboration.”
The new development continues recent investments along River Avenue since Yankee Stadium opened nearby in 2009. It follows River Avenue Apartments I—a similar project completed in March 2024 with 245 affordable units—and supports broader goals set out under Governor Hochul’s “Let Them Build” agenda aimed at speeding up construction while maintaining environmental standards.
Leaders including Senator Chuck Schumer said he was proud that federal tax credits contributed over $17 million toward this effort: “I commend Governor Hochul for creating and preserving affordable housing statewide.” Assemblymember Amanda Septimo added that this development represents “a powerful step forward” towards inclusive neighborhoods reflecting “the rich diversity” of the Bronx.
