Phipps Houses, the oldest nonprofit in the United States focused on affordable housing, has submitted a rezoning application to the Department of City Planning for a site at 893-895 East 167th Street in the Foxhurst neighborhood of the South Bronx. According to Crain’s, Phipps aims to construct a 497-unit residential development totaling 377,000 square feet on land it purchased in 2019 for $22.5 million.
All proposed units would be designated as affordable housing, with nearly 20 percent set aside specifically for individuals who have experienced homelessness. The lot spans approximately 66,000 square feet and is currently zoned for light manufacturing. Phipps is seeking approval to rezone it for medium-density residential use. The site is bordered by Intervale Avenue, East 169th Street, and Kelly Street.
Plans indicate that the project would rise between six and twelve stories and include almost 6,000 square feet of community facility space. Amenities are expected to include two laundry rooms, a fitness room, a playroom, bicycle storage facilities, and a doorman service.
The organization did not provide comment when contacted by Crain’s.
Previously, Phipps Houses secured a $225 million construction loan for another major affordable housing development—this one comprising 436 units on Euclid Avenue in Cypress Hills, Brooklyn. That project was part of three developments planned between Fulton Street and Atlantic Avenue.
The South Bronx has seen an increase in new development activity recently. Last month saw Scale Lending issue a $305 million loan to Beitel Group for its planned 755-unit building at 355 Exterior Street (https://therealdeal.com/new-york/2024/07/15/beitel-group-lands-305m-loan-for-south-bronx-megaproject/). In addition, last summer Arian Liton filed plans for a mixed-use project with 99 units at 36 Bruckner Boulevard (https://therealdeal.com/new-york/2024/08/10/developer-plans-mixed-use-project-in-south-bronx/) while RXR and Brookfield have also become active developers in the area (https://therealdeal.com/new-york/2023/11/28/rxr-brookfield-enter-the-south-bronx-arena-with-new-projects/).
