What was once home to a shuttered plastics factory and several single-story parking garages in the south Bronx will soon yield an affordable housing project with 542 apartments.
In October, it was announced that the Stagg Group recently purchased 1125 Whitlock Ave. for $18.26 million.
Plans for the site include 15,000 square feet of commercial space and a 10,000 square foot community facility. The project will consist of two phases and is set to employ more than 150 people.
“We are excited to bring this much-needed housing to the community, as well as create jobs for construction workers and permanent positions alike,” said Mark Stagg, founder and CEO of Stagg Group. “This is a natural progression of where the company is headed, in terms of scale.”
Currently, Stagg owns and manages over 3,500 units of housing throughout the Bronx.
The property is zoned for low income housing under the city’s Extremely Low & Low-Income Affordability (ELLA) Program. The ELLA Program funds the new construction of low-income multi-family rental projects in which a minimum of 80 percent of the units are at low income rents affordable to households earning up to 80 percent of Area Median Income (AMI).
Up to 20 percent of the units may have rents affordable to moderate income households earning between 90 to 100 percent of AMI. At least 15 percent of units must be set aside for formerly homeless households.
Units will include 108 studios, 217 one-bedroom, 136 two bedroom and 81 three-bedroom units. Green space will also be incorporated into the building design.