The Community Lending and Investment division of Wells Fargo has reached a new milestone, $780.3 million in construction financing for affordable housing projects in New York City and Westchester County. The figure represents five loans, all closed in June 2023, the company’s largest-ever half-cycle allocation.
Permits have been filed for a seven-story mixed-use building at 1340 Blondell Avenue in Westchester Square, The Bronx. Located between Fink Avenue and Ponton Avenue, the lot is near the Westchester Square-East Tremont Avenue subway station, serviced by the 6 train. Nimrud Eyal of Exact Capital Group, under the Blondell Equities LLC, is listed as the owner behind the applications. YIMBY previously reported Blondell Equities filed a rezoning proposal for a nine-story mixed-use structure at the site.
Permits have been filed for a three-story mixed-use building at 1374 Blondell Avenue in Westchester Square, The Bronx. Located at the intersection of Ponton Avenue and Blondell Avenue, the interior lot is near the Westchester Square-East Tremont Avenue subway station, serviced by the 6 train. Foremost Real Estate under the 1400 Blondell LCC is listed as the owner behind the applications.
Permits have been filed for a five-story residential building at 2422 Lyvere Street in Westchester Square, The Bronx. Located between East Tremont Avenue and Zerega Avenue, the lot is nine blocks west of the Zerega Avenue subway station, serviced by the 6 train. Maheen Farrukh of Galaxy City Apartments is listed as the owner behind the applications.
Back in October 2018, YIMBY revealed a batch of fresh renderings and site plans for a proposed affordable housing development in the Westchester Square community of The Bronx. Today, the project is expected to move forward as intended following strong support from neighborhood residents, small business owners, and local union members.
