Nonprofit PRC plans 100-unit affordable housing development in Bronx

On June 18, 2025, a significant meeting of the Housing, Land Use, and Sanitation & Environmental Protection Committees in the Bronx focused on a new affordable housing development at 626 Pelham Parkway South. The project, spearheaded by a nonprofit developer with over 50 years of experience, aims to transform the former Apple Bank site into a nine-story building that will provide over 100 permanent housing units for low-income individuals.

The developer emphasized that this initiative is not a homeless shelter or transitional housing. Instead, it will offer rent-stabilized leases, ensuring that every tenant has a permanent home. The target demographic includes individuals earning less than $27,000 annually, with approximately 60% of the units designated as supportive housing for those with clinical or social service needs. The remaining units will be accessible through the NYC Housing Connect lottery, with a community preference for local residents.

During the meeting, committee members raised important questions regarding the financial aspects of the project, including the involvement of tax credits and the identity of the syndicator responsible for financing. The developer acknowledged the need for clarity on these points and committed to providing further information.

The discussions highlighted the broader implications of this housing initiative, particularly in addressing the pressing need for affordable housing in the Bronx. With nearly 7,000 clients successfully transitioning to stable housing in 2024, the developer aims to create a community where residents not only have a roof over their heads but also feel a sense of belonging and dignity.

As the project moves forward, the community will be closely monitoring its development, particularly regarding the financial structure and the allocation of units. The meeting underscored the importance of transparency and collaboration between developers and local officials to ensure that the needs of the community are met effectively.