Since 1981, when the city presumably seized the property for nonpayment of taxes, the land at 1561 Walton Avenue — in the Mount Eden section of the Bronx — has laid fallow.
But assuming a permit filed yesterday is borne to fruition, the odd triangularly shaped parcel, mid-block between East Mount Eden Avenue and East 172nd Street, should soon be home to a mid-rise affordable housing project.
The permit filing reveals an 11-story building that will stand 98 feet tall — and while ceilings of less than nine feet wouldn’t fly on a market-rate project this size, affordable housing tenants can’t be as picky. The building’s 60 apartments would be divided across 54,000 square feet of net residential space, yielding a fairly roomy average unit size of around 900 square feet (roomy for subsidized housing, at least).
The developer of the project is nominally listed as the Crenulated Company Ltd., but the Settlement Housing Fund – a nonprofit affordable housing builder – appears to be the real entity behind the project. 1561 Walton Avenue’s total cost was listed as just shy of $20 million, or $330,000 per apartment.
Edelman Sulton Knox Wood Architects is responsible for design.
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