Heights Advisors Plans 606-Unit Affordable Housing Project in The Bronx

• Heights Advisors has filed plans for a 21-story mixed-use building with 606 apartments at 945 White Plains Road in Soundview, The Bronx.
• The proposed project would span approximately 515,063 square feet, including 503,095 square feet of residential space and 11,968 square feet of commercial space.
• The development is expected to include approximately 152 affordable apartments and is seeking financing through the NYC Department of Housing Preservation and Development's New Construction Finance Program.
• The project would replace or redevelop an existing retail property currently occupied by Modell's Sporting Goods and GameStop, although the developer has not confirmed whether the existing building will be demolished.
• Rachel Foster, founder and president of Heights Advisors, is leading the development.

What The 945 White Plains Road Project Will Add

Heights Advisors has filed a land use application for a major affordable housing development at 945 White Plains Road in Soundview, The Bronx. The Brooklyn-based developer is proposing a 21-story mixed-use building with 606 residential units on the site. The project would contain approximately 515,063 square feet, including 503,095 square feet of residential space and 11,968 square feet of commercial space. The application starts the city's Uniform Land Use Review Procedure, or ULURP, which will require public review before the proposed zoning changes can move forward.

What The Affordable Housing Plan Includes

Approximately 152 of the 606 planned apartments are expected to be affordable, while the overall project is being positioned as a large multifamily development with a significant affordable housing component. Heights Advisors is seeking construction financing through the NYC Department of Housing Preservation and Development's New Construction Finance Program, which supports the development of 100% affordable multifamily rental projects. The filing identifies the financing program as part of the project's capital strategy, although the exact affordability levels and income bands for the planned apartments have not yet been detailed in the available information.

What Is Planned for the Existing Site

The project is planned for the southwest portion of 945 White Plains Road, where the existing property is a retail building. The site currently includes Modell's Sporting Goods and GameStop. Heights Advisors holds a 99-year ground lease on the property. It remains unclear whether the existing retail building will be demolished as part of the redevelopment. Heights Advisors had not publicly commented on the status of the existing tenants at the time of the report. If the project moves forward as proposed, the site would transition from a low-rise retail property to a substantially larger residential development with more than half a million square feet of new construction.

What The Zoning Process Means for the Project

The land use application requests both a zoning amendment and a special permit, triggering the ULURP process. The process typically takes several months and includes review by city agencies, public hearings and votes by the City Planning Commission and City Council. The project's proposed zoning changes will need to move through those steps before construction can begin. The filing therefore represents an early but important milestone. The project still needs to clear the city's land use review process before the planned 21-story building can move toward construction.

What Heights Advisors Is Bringing to The Bronx

Heights Advisors is a Brooklyn-based real estate development and investment firm founded by Rachel Foster in 2008. The company focuses on real estate development and investment and has worked on projects across New York and Pennsylvania. Foster has described the firm's work as social-impact-oriented development. Heights Advisors has previously developed supportive and transitional housing projects, including shelters serving families and survivors of domestic violence. The proposed Soundview project would represent a significant expansion of the firm's residential development activity, with 606 apartments planned on a single site.

What The Project Could Mean for Soundview

The proposed development would bring a substantial amount of new housing to Soundview while replacing a low-rise retail property with a much larger mixed-use building. The project's affordable component could also add to the Bronx's growing pipeline of income-restricted housing developments. Other planned residential projects in the borough include affordable senior housing at 3728 Park Avenue and new residential buildings along East Tremont Avenue. For now, 945 White Plains Road remains subject to the city's land use review process. If the zoning amendment and special permit are approved, the project would move closer to construction and could become one of the larger new residential developments planned for Soundview.