A well-respected development company is ready to open its newest housing initiative.
L+M Developmental Partners, which recently opened up La Terraza, an eight-story building with 107 housing units on 3100 Third Avenue, is about to open another affordable housing complex at 269 E. Burnside Avenue.
In conjunction with the city’s Department of Housing Preservation and Development and state’s Homes and Community Renewal, the Burnside development, the 11 story, 76-unit building, is scheduled to open in early September.
Over 8,000 applications were received for the new complex and L+M is currently reviewing them. The review process takes two to three weeks, and L+M senior project manager Spencer Orkus expects to have tenants begin moving in at the end of the month.
“It’s great to bring another affordable housing complex to the residents of the Bronx,” Orkus said. “We are very committed to bringing as much affordable housing because there is such a strong need for it.”
The new building will feature 16 studio apartments, 22 one-bedroom apartments, 26 two-bedroom apartments, and 12 three-bedroom apartments. It will also feature an indoor fitness gym, a community room, a bike storage area, air conditioning for all units, and an outdoor patio area with benches and tables.
Orkus said the location of the building was selected because it is a very commuter-friendly area, with the Bx36, Bx40/Bx42 buses nearby, as well as the B and D trains.
“It’s a great area for future tenants, especially with Echo Park nearby,” Orkus said. “Applicants will be notified shorty and will be called in for interviews. Once it is all done, we can begin to move in future tenants.”
Over the last 10 years, L+M has provided over 1,800 affordable housing united to the borough.