Councilman Torres: New affordable housing complex coming to Fordham by 2021
An eight-story affordable housing complex will soon be coming to Fordham, according to Councilman Ritchie Torres.
Bronx Pro Group is collaborating with the elected official to develop a 53-unit housing complex at 4697 Third Ave., which is currently an under-utilized parking lot.
Torres says rents in this mixed-use development will range from $200 a month to $2,000 a month.
He says more than 50 percent of Fordham residents pay more toward their rent than anywhere else in the city, but assures that families who live in the new complex will pay no more than 30 percent of their income toward rent.
"We have to get rid of this stigma on the poor," Torres says. "There are many New Yorkers who are struggling to pay rent in what has become the most expensive city to live in the world, so we have to continue to create affordable housing opportunities."
Torres's office says construction is slated to begin this year and is estimated to be done by the end of 2021.
The energy efficient complex requires additional state financing, and the developer is in the process of applying for it.