A former Mitchell Lama building in the Bronx that was picked up by Nelson Management and L+M Development Partners in 2013 is getting upgraded, the Daily News says. The development duo are sinking millions into the former Marble Hill development at 150 West 225th Street, which will take on the name Promenade Apartments following the renovation. In addition to adding a gym, a two-story gated parking area, and an outdoor deck with cabanas that will overlook the Spuyten Duyvil Creek, the developers are also providing new elevators, boilers, roof, and heating system. The building's lobby and hallways will also get redone.
Although the building is no longer a part of the Mitchell Lama program, its 318 one- to three-bedroom apartments are still mostly rent stabilized and will gradually go market rate as rent stabilization laws change. The building's few available market-rate apartments have been upgraded with tout hardwood floors, granite counters, and stainless-steel appliances. Presumably the others will follow suit as they become available.
· Famed Marble Hill affordable housing complex gets long-awaited makeover [NYDN]
· Mapping the Crucial Developments That Will Reshape the South Bronx [Curbed]
· All Mitchell Lama coverage [Curbed]
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