Heights Advisors Files Plans to Build 606 Affordable Units in the Bronx

Heights Advisors, a Brooklyn-based development and investment firm led by founder and president Rachel Foster, is planning to bring 606 affordable housing units to the Bronx’s Soundview neighborhood. 

The firm filed a land use application Wednesday with the New York City Department of City Planning requesting a zoning amendment and a special permit to build a 21-story mixed-use building with 606 units at 945 White Plains Road. The filing initiates a Uniform Land Use Review Procedure (ULURP), which typically takes about seven months of public review of the proposed zoning changes, and includes formal hearings before a final vote by the City Council and City Planning Commission. 

If approved, Heights Advisors’ proposed project would span 515,063 square feet and include 503,095 square feet of residential space and 11,968 square feet of commercial space, the application notes. 

The Brooklyn developer is seeking construction financing under the New York City Department of Housing Preservation and Development’s New Construction Finance Program, which provides funding for the construction of 100 percent affordable multifamily rental projects, according to the filing. Of Heights Advisors’ 606 planned units, approximately 152 are set to be affordable.

It’s unclear whether Heights Advisors, which is the ground lessee of 945 White Plains Road on a 99-year ground lease, plans to demolish the current retail property on the site, which is home to a Modell’s Sporting Goods and GameStop.

Heights Advisors did not immediately respond to Commercial Observer’s request for comment. 

Other residential developments planned for the Bronx include a 228-unit affordable senior housing development at 3728 Park Avenue, as well as a pair of 99-unit residential buildings at 761-769 East Tremont Avenue. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.