A New York City construction crew broke ground Monday on a $255 million affordable housing complex in the Bronx.
Once finished, River Commons will feature 328 apartments that will house some of the Big Apple's lowest-income earners. The development will sit on what's currently an underused parking lot near NYC Health + Hospitals Gotham Health in the Grand Concourse section, city officials said. Part of the development will also include a 43,000-square-foot health clinic on the second and third floors, along with dedicated space for professionals from social services organization BronxWorks to help with job placement.
A spokesperson for the New York City Department of Housing Preservation and Development told CoStar News on Wednesday that the development is slated to be finished in 2029.
During a press conference this week, Mayor Zohran Mamdani said 98 of the 328 units will be for homeless patients of NYC Health + Hospitals who need permanent housing.
"New Yorkers deserve safe, affordable homes and the stability that comes with them," the mayor said in a statement. "By bringing affordable housing, health care and community services together in one place, we’re investing in New Yorkers who deserve a chance to build a secure future."
The building's developers will be a trio of organizations — BronxWorks, L+M Development Partners and Type A Projects. City officials said Type A and BronxWorks will be the property's long-term owners.
The River Commons apartments will feature studios, as well as one-, two- and three-bedroom spaces. Amenities in the building will include a fitness center, a playroom, a co-working space and a 15th-floor terrace.
City officials didn't disclose rent prices in the building but said the units will be reserved for residents earning between 30% and 70% of the area median income — which, as of 2026, is between $45,810 and $106,890 for a family of three or between $50,880 and $118,720 for a family of four.