The New York City Department of Planning Commission approved a proposed plan to build affordable housing along the Bronx River.

Officials say the proposed complex is owned by Simone Development. Three towers with more than 970 housing units are expected to be built between 1460 and 1480 Sheridan Blvd.

The Department of City Planning says it will designate 40% of units to moderate income earners making $84,000 to $112,000, depending on household size. Officials say 20% of the units will go to low-income earners making around $56,000 to $106,000. Twenty-five percent of units will go to very low-income earners making between $37,000 and $66,000 per year, and 15% of the units will go to extremely low-income tenants bringing in $28,000 to $40,000, depending on household size.

"This new housing project would take a dilapidated eyesore in the South Bronx and convert it into truly affordable housing units for low-income, working families, and would also expand access to the Bronx River Greenway for all New Yorkers to enjoy," says City Councilmember Rafael Salamnca.

The proposal now goes to the City Council for final approval.