Douglaston Development and Levine Builders begin work on 277-unit housing development

Bronx, NY Douglaston Development and its general contracting and construction management affiliate, Levine Builders, commenced construction on 2868 Webster Ave., a 12-story, 277-unit affordable multifamily housing development located adjacent to the New York Botanical Garden’s 250-acre grounds, the second phase of the two-phase mixed-use development. Demolition of the site’s existing building was complete last month after the existing tenant, Cherry Valley marketplace, moved into its newly built space in the adjacent phase one building. Construction of the new building is slated to be complete in 2027.

Upon completion, 2868 Webster Ave. will deliver 277 affordable housing units, a mix of studios, one-, two- and three-bedroom residences available to households earning up to 70% of the Area Median Income (AMI), with 60 of the 277 residences designated for supportive housing. Shared resident amenity spaces at the property will include laundry facilities, a fitness center, green roof, and on-site parking. On-site supportive services for residents will be provided through the Jericho Project.

In addition to the project’s residential component and on-site services, 8,200 s/f of ground floor grocery facilities will be delivered and assumed by longstanding neighborhood grocer, Cherry Valley Marketplace, expanding the market’s current 12,800 s/f location delivered in phase one to a total of 21,000 s/f of accessible fresh food retail space to the community. While phase one of the project was underway, Cherry Valley operated within its existing storefront at 2868 Webster Ave., avoiding any halt in operations.

“We are honored to deliver additional much-needed affordable housing for families to benefit the Bronx community,” said Jed Resnick, chief executive officer of Douglaston Development. “We are very proud of the work completed within Phase I alongside our project and community partners and look forward to continuing that collaboration as we advance and bring Phase II to fruition.”

“We are grateful to play an integral role in bringing an essential affordable housing offering to the Bedford Park community, expanding access to quality affordable housing in the Bronx,” said Paul Finamore, chief executive officer of Levine Builders. “The celebration of this milestone is a reflection of the collective work between all the partners, and we look forward to advancing the project over the coming years.”

“The groundbreaking at 2868 Webster Ave. to build 277-units of affordable family housing marks a transformative step toward addressing the Bronx’s housing needs,” said Bronx borough president Vanessa Gibson. “Douglaston Development and Levine Builders, in collaboration with the Jericho Project, are creating not just affordable housing but a community where families and individuals can thrive. With supportive services, sustainable design, and expanded access to fresh food, this project represents a holistic vision for empowering residents and enriching the Bedford Park neighborhood."

“Our city is in a housing crisis, and we can only resolve it by building more housing,” said council member Oswald Feliz. “I'm thankful for the Botanical Garden's investment in our community, and I am excited about the housing stability this will help for families in the Bronx.”

“With the second phase of this development underway, 2868 Webster Avenue will soon provide nearly 280 affordable homes, coupled with modern amenities and easy access to an improved and expanded neighborhood grocery store,” said HDC President Eric Enderlin. “Thank you to all of our partners involved, whose creativity and hard work on this multi-phased project will deliver much-needed affordable housing to the Bedford Park community.”

“We are thrilled to be part of the partnership that is bringing 277 new housing units to the Bedford Park Community, adjacent to the magnificent NY Botanical Garden,” said HPD commissioner Adolfo Carrión, Jr. “With our partners at HDC we are investing $70 million into creating a nurturing place to live and thrive for families and individuals. We are proud to continue working with Douglaston Development and Wells Fargo in making New York City affordable and a place of opportunity.”

“In addition to bringing more affordable housing to the community, we are proud to partner with the Jericho Project on 2868 Webster to provide on-site social services,” said Liz Oakley, executive vice president of affordable development at Douglaston Development. “The Jericho team will offer services including case management, workforce opportunities programs, financial literacy training, and many other important services for residents.”

“The New York Botanical Garden has been a proud anchor in our Bronx neighborhood for 133 years, and we applaud New York City’s and Douglaston Development’s commitment to an affordable mixed-use, intergenerational project here,” said Aaron Bouska, vice president for government and community relations at NYBG. “There is great need for affordable housing in our community. After more than a decade of collaboration with community stakeholders, we are gratified to know that construction is scheduled to be completed in 2027.”

“We are thrilled to expand our mission of providing supportive housing with this new development at 2868 Webster Ave.,” said Tori Lyon, CEO of Jericho Project. “By integrating 60 supportive units into this mixed-use community, we are not only offering affordable housing but also fostering an environment where residents can thrive with the necessary services and support. This project exemplifies the positive impact of collaborative efforts in addressing the housing crisis and creating lasting change for families and individuals in need."

The project is funded by $83.4 million in tax-exempt bond financing and $17.4 million in subsidies as allocated by The New York City Housing Development Corporation (HDC). The New York City Department of Housing Preservation and Development (HPD) provided a $52.6 million subsidy under its Extremely Low- and Low-Income Affordability Program (“ELLA”). Wells Fargo is providing Low-Income Housing Tax Credits (LIHTC) as well as a letter of credit for the project.

2868 Webster Ave. is the second phase of a two-phased affordable development project that additionally includes 2850 Webster Ave., a 188-unit affordable senior housing development that was delivered to the community in the fall of 2023 with an accompanying 12,800 s/f of ground-floor retail space, leased to Cherry Valley Marketplace and on-site social services provided through Fordham Bedford Community Services. The New York Botanical Garden selected Douglaston Development to lead the development and executed a 99-year ground lease with Douglaston in August of 2020 through a competitive request for proposals process.