New York City is advancing another large-scale affordable housing development through a public agency partnership aimed at expanding senior housing and modernizing public housing campuses. City officials announced the financial closing for Sol on Park, a $214 million affordable housing project planned at the New York City Housing Authority’s Morris Houses campus in the Bronx.
The project represents the city’s largest use to date of the Transfer of Assistance financing model, which is intended to support redevelopment and affordable housing creation on NYCHA-owned land.
Sol on Park will provide 229 affordable apartments for older New Yorkers on the Morris Houses campus in the Morrisania section of the Bronx.
According to released project information, 80 apartments will be reserved for existing NYCHA residents from Morris Houses I and II, while 69 units will be designated for formerly homeless seniors. An additional 79 apartments will be available through the city’s Housing Connect lottery system for low- and middle-income senior residents.
The development will also include community facility space, a pedestrian plaza and resident amenity areas.
Project partners include NYCHA, the Department of Housing Preservation and Development, the Housing Development Corporation, The NRP Group, Selfhelp Realty Group and Foxy Management.
The project is planned to meet both LEED Platinum and Passive House standards, reflecting continued emphasis on energy-efficient affordable housing construction in New York City.
Design plans include health and wellness-focused features as well as partnerships tied to healthcare and community service providers. Planned amenities include exercise rooms, computer labs, bicycle storage and laundry facilities.
The development will also create a new fully accessible resident association facility for the Morris Houses community.
Construction is expected to begin following the financing closing, with residents projected to move into the building in early 2029.
Cities across the United States continue pursuing mixed-finance affordable housing models that combine public land, municipal financing and private development partnerships.
In New York City, redevelopment activity involving NYCHA properties has increasingly incorporated energy-efficient design standards, senior housing components and community-based service infrastructure.
Affordable housing projects tied to public housing campuses often involve extensive resident engagement, phased planning and coordination between municipal agencies and private development teams.
For contractors and developers, the Sol on Park project reflects continued public-sector investment in affordable housing, senior living facilities and sustainable urban development.
The project also highlights growing opportunities tied to mixed-finance housing delivery models, energy-efficient multifamily construction and redevelopment programs involving public housing authorities.
Source: New York City government.
