4697 Third Ave.

Bronx, NY

Awarded to Bronx Pro through an HPD RFP, 4697 Third Avenue is a formally city-owned site developed into a sustainable mixed-use, mixed-income housing community. The building is 8-stories with 53 affordable apartments and 6,267 SF of retail space. Rents and incomes are restricted to households earning between 30% to 80% of the area median income. The building also includes a set aside for formerly homeless households. Building amenities include a large terrace with a playground, an indoor gym, bike room and on-site laundry. The building is Passive House certified and received honorable mention in the 2022 PHUIS Design Competition.

The project is financed under HPD's ELLA program, NYSHCR 9% Low Income Housing Tax Credit (LIHTC) equity, Middle Income Housing Program funds (MIHP), Community Investment Fund loan (CIF), and Project Based Section 8 vouchers. Construction was completed in April 2022 and the total development cost was $34 million.