It’s been two years since the Chetrit Group and Somerset Partners shelled out $58 million on two large parcels of land on either side of the Third Avenue Bridge in Mott Haven, and finally the development team is now ready to break ground on this massive, multi-building development that will bring 1,300 apartments to the South Bronx.
Yimby learned of this latest development on Thursday and also got its hands on the first renderings for this project located at 2401 Third Avenue and 101 Lincoln Avenue.
North of the bridge, at 2401 Third Avenue, the development team is planning a 25-story standalone tower, and a 25-story and 16-story building that will sit on top of an eight-story base.
If that seems like a lot, you’ll need to brace yourself for the second site because the one above is the smaller of the two. At 101 Lincoln Avenue, the development team will build three 24-story buildings, and a 22-story building that will sit on top of a six and seven-story base.
For now, the developers have only managed to secure funding for the project north of the bridge. That site will get 430 rentals that will come in studio through three-bedroom variants. There are also plans for a 175-car garage.
Back over at the Lincoln Avenue site, the developers intend to build 849 apartments, along with 20,500 square feet of retail and 1,100 square feet of community space—though it remains to be seen when this will actually get underway.
Both sites will essentially get the same set of amenities which include a swimming pool, bike storage, a gym, and a pet care facility. Though the Lincoln Avenue site will also have a cafe, a screening room, and a library that also serves as a wine room.
And seeing as these are both waterfront sites, the development team has also planned a 25,500-square-foot, publicly accessible waterfront esplanade. The apartments at the overall development, which is being designed by Hill West Architects, will be entirely market-rate, and the Third Avenue site is expected to wrap construction in the summer of 2019.
Plans for this project have gone back and forth since they were first announced with the developers saying in the summer of 2015 that they had nixed plans for a six-building project, and decided to building just two 25-story towers. That plan has changed again in favor of this seven-tower plan. Bronx Borough President Ruben Diaz Jr. has been pushing for a massive redevelopment of this area for quite some time now, and major infrastructural improvements have been planned to meet the demands of the impending influx to the area.