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Deals & Dealmakers

Douglaston Development Celebrates Topping Out of Affordable Senior Housing Development In The Bronx

Today, Douglaston Development announced the topping out of the first phase of a two-phase, mixed-use project located at 2856 Webster Avenue, adjacent to The New York Botanical Garden’s (NYBG) 250-acre grounds. Levine Builders, the general contracting and construction management affiliate of Douglaston Development, is leading project construction.

Upon completion of Phase I in March of 2023, 2856 Webster Avenue will deliver 188 residences of affordable senior housing to those in the community who earn up to 50 percent of the Area Median Income (AMI). The project will also feature a 12,000 square foot Cherry Valley Marketplace and on-site social services for residents in partnership with Fordham Bedford Community Services.

“We’re thrilled to celebrate this topping out milestone as we continue moving closer to delivering the Bronx community a much-needed senior affordable housing option,” said Jeffrey E. Levine, Founder and Chairman of Douglaston Development. “We look forward to continuing our work alongside all project and community partners as we bring Phase I to fruition and embark upon Phase II.”

Phase II of the two-phase project, located at 410 Bedford Park Boulevard, will deliver affordable rental units for families with ground floor retail space.

“After almost a decade of collaboration with community stakeholders, we’re especially excited by the topping-out of the first phase of this important project,” said Aaron Bouska, Vice President for Government and Community Relations at The New York Botanical Garden. “With more than 40 percent of seniors in the Bronx being rent-burdened, the need for affordable senior housing cannot be overstated. We applaud this significant achievement and look forward to the completion of construction in 2023.”

Douglaston entered into a 99-year lease with NYBG in 2020 after the Botanical Garden selected the New York developer through a request for proposals process. Stephen B. Jacobs Group is the project architect, and Levine Builders leads the project’s construction efforts.

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