Bronx land deal paves way for new affordable senior development

A Bronx-based affordable housing developer scooped up three parcels in the borough’s Belmont section for roughly $4 million to build a 120,000 s/f, environmentally-conscious senior assisted living facility. Foxy Management first nabbed the anchor parcel at the corner of Arthur Avenue and 179th Street for $2.1 million in an off-market sale, then picked up the two neighboring properties at 612 East 179th Street and 2010 Arthur Avenue as well as some of the adjacent air rights.

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Source: Real Estate Weekly