Affordable Senior Housing Project Secures $214M Financing in the Bronx

• A $214 million financing package has been secured for Sol on Park, a 229-unit affordable senior housing development at 3728 Park Avenue in Claremont, the Bronx.
• The project will provide permanently affordable apartments for seniors, including supportive housing for formerly homeless residents and units reserved for existing NYCHA tenants.
• Construction is expected to begin following the financial closing, with the first residents scheduled to move in during early 2029.

What the Sol on Park Project Includes

A major affordable housing project is moving forward in the Bronx after securing $214 million in financing. Sol on Park will rise at 3728 Park Avenue on the northeast corner of Park Avenue and St. Paul's Place within NYCHA's Morris Houses campus in the Claremont neighborhood. The development will deliver 229 permanently affordable apartments designed specifically for older New Yorkers. The project is being developed through a partnership between NYCHA, the New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corporation (HDC), The NRP Group, Selfhelp Realty Group, and Foxy Management. Magnusson Architecture and Planning designed the building.

What Affordable Housing Options Will Be Available

The project is designed to serve a variety of senior residents with different housing needs. Of the 229 apartments, 80 units will be reserved for current residents of Morris Houses I and II through NYCHA's Transfer of Assistance program. Another 68 supportive housing units will be dedicated to formerly homeless seniors, while the remaining 80 apartments will be made available to low- and middle-income seniors through New York City's Housing Connect lottery. Beyond housing, the development will include more than 8,000 square feet of community facility space, a new pedestrian plaza, and an accessible headquarters for the Morris Houses Resident Association.

What Sustainable Features and Amenities Are Planned

Sol on Park is being designed to meet both LEED Platinum and Passive House standards, reflecting a strong focus on sustainability and energy efficiency. Residents will have access to on-site healthcare services through partnerships with Union Community Health Center and Green Bronx Machine's National Health & Wellness Center. Planned amenities also include exercise rooms, computer labs, bicycle storage, laundry facilities, and community gathering spaces designed to support healthy aging.

What the Timeline Means for the Neighborhood

With financing now secured, construction is expected to begin following the financial closing. The first residents are anticipated to move into the building in early 2029. Located near the 170th Street subway station, which is served by the B and D trains, Sol on Park will provide convenient transit access while expanding affordable housing options in one of the Bronx's established residential communities. The project also represents another step in New York City's ongoing effort to preserve and expand affordable housing for seniors while improving public housing campuses through public-private partnerships.