Nonprofit Buys Bronx Parking Lot for $25M With Plans for New Housing

Community Access, a New York City-based nonprofit that provides supportive housing and services for people with mental health concerns, has acquired a 27,000-square-foot parking lot in the Bronx for $25 million, according to city records made public Tuesday.

The nonprofit, through the entity 1185 River Avenue Housing Development Fund, purchased the lot at 1185 River Avenue in the Bronx’s Highbridge neighborhood from investment firm Irgang Group, which used the entity 1185 River Avenue, records show.

Community Access CEO Carolyn Hedigan signed the deal for the buyer, while Irgang’s Mark Irgang and Jason Sakow signed for the seller, according to records.

It’s unclear who brokered the deal. Irgang and a spokesperson for Community Access did not immediately respond to requests for comment.

Irgang bought the property between McClellan and East 167th streets for $800,000 in 2003, property records show. The site is home to a BestParking parking lot and sits beneath the 167th Street stop on the elevated 4 train.

Now, Community Access, which has developed 20 affordable and supportive housing buildings in the Bronx, Brooklyn and Manhattan, has plans to build housing on the site.

Christopher Lacovara, director of real estate development at Community Access, filed plans last month to build a 20-story mixed-use building at 1185 River Avenue, including 292 units of affordable and supportive housing and commercial space on the first floor, according to a filing with the New York City Department of Buildings.

The project would include 97,854 square feet of residential space, 22,957 square feet of commercial space and 117,818 square feet of community facility space, according to the filing.

News of the deal comes after another nonprofit housing developer filed plans to build new housing in the South Bronx in August.

In that project, Phipps Houses, one of the country’s oldest not-for-profit companies committed to developing affordable housing, submitted a rezoning application to build a 376,853-square-foot, 497-unit housing development at 893-895 East 167th Street in Foxhurst, as Commercial Observer previously reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.