A lot in the Belmont section of The Bronx that's sat vacant for over 20 years will soon give rise to an affordable rental tower. Though L+M Development Partners and Hornig Capital Partners recently filed plans to build on the site, the lot—located at 4439 Third Avenue—is owned by nearby St. Barnabas Hospital, and it has yet to change hands.
Nevertheless, the new building will house 133 residential units and will be marketed as 100 percent affordable, a spokesman for L+M told The Real Deal. It will spread over 127,000 square feet, with 11,500 square feet of commercial (and community) space on the ground floor. It will also have recreational space for tenants on the second floor.
· L+M, Hornig file plans for 12-story Bronx rental building [TRD]