Joy Construction Plans 213-Unit Housing Development in the Bronx
By Isabelle Durso January 14, 2025 4:43 pm
reprints
Joy Construction is planning another large development in the Bronx.
Joy, which was just selected along with Maddd Equities to develop the Bronx’s long-vacant Kingsbridge Armory, wants to build an 11-story, 213-unit residential building at 1545 Jerome Avenue, according to a filing with the New York City Department of Buildings this week.
The 160,400-square-foot development in the Bronx’s Mount Eden neighborhood is set to include community and retail space as well as affordable housing units, Crain’s New York Business reported.
The site just south of Interstate 95 between Goble Place and East Mount Eden Avenue, currently a one-story parking lot run by Metro Parking, will be owned and operated by housing nonprofit Services for the UnderServed, Crain’s reported.
SUS also owns 1770 Jerome Avenue, where it plans to build an affordable housing site for seniors, according to the outlet.
Affordable housing firm Blue Sky Development Partners will also work on the project, Eli Weiss, principal at Joy, told Crain’s. Weiss also told Crain’s the project will cost roughly $130 million, with construction set to start this year.
Spokespeople for Joy and Blue Sky did not immediately respond to requests for comment.
The news of the new development at 1545 Jerome Avenue comes after the New York City Economic Development Corporation selected Joy and Maddd last week to develop the 570,000-square-foot Kingsbridge Armory into a 13,000-person event venue, as Commercial Observer previously reported.
The armory project, which is set to be completed by 2032, will include community space, a recreation center, an educational hub and sports fields.
Isabelle Durso can be reached at idurso@commercialobserver.com.