NRP Group Breaks Ground on 229-Unit $214 Million Affordable Senior Housing in Bronx
The NRP Group announced the groundbreaking of Sol on Park, a 229-unit affordable senior housing development in the Morrisania section of the Bronx, New York. The project is co-developed with Selfhelp Realty Group and Foxy Management in collaboration with the New York City Housing Authority (NYCHA), the New York City Department of Housing Preservation and Development (HPD), and the New York City Housing Development Corporation (HDC).
The $214 million project will provide housing for seniors ages 62 and up, including formerly homeless New Yorkers and seniors currently residing in NYCHA’s Morris Houses campus, according to the release.
“Sol on Park represents a tremendous milestone for The NRP Group as our first development in New York City, and one that will deliver much-needed affordable housing for seniors and formerly unhoused New Yorkers,” said Jonathan Gertman, Senior Vice President of Development at The NRP Group.
Located at 3728 Park Avenue in Claremont, the 18-story, 204,000-square-foot residential building sits on NYCHA’s Morris Houses campus. Designed by Magnusson Architecture and Planning, the community consists of 229 permanently affordable apartments for seniors earning up to 50% of the Area Median Income (AMI), along with more than 8,000 square feet of community space, a pedestrian plaza, and a new headquarters for the Morris Houses Resident Association.
Of the 229 residences, 80 apartments will be reserved for existing residents of Morris Houses I and II through NYCHA’s Transfer of Assistance program. An additional 69 apartments will provide supportive housing for formerly homeless seniors, and 79 homes will be available through the NYC Housing Connect lottery for low and middle-income seniors.
The project represents New York City’s most significant application of the Transfer of Assistance financing tool to date, according to the announcement. The $214 million financing package includes partnerships with NYCHA, HPD, and HDC.
Sol on Park will offer on-site services through partnerships with Union Community Health Center and Green Bronx Machine’s National Health and Wellness Center.
The NRP Group has developed more than 68,000 apartment homes nationwide and currently manages over 33,000 residential units across the United States, according to the company. Construction is now underway, with pre-leasing and early move-ins scheduled for early 2029.