58-Unit Affordable Homeownership Development Completed in The Bronx

What happened

Governor Kathy Hochul announced on October 14, 2026 that a 58-unit affordable homeownership development in the Bronx is complete. The announcement came from NYS Homes and Community Renewal (HCR). The full text of the HCR release was not available, so most details here come from Secret NYC's coverage of the same announcement.

Secret NYC reported that the project is Stevenson Square Phase I in Soundview. It created 58 co-op homes in two new four-story buildings at 1843 and 1847 Seward Avenue, designed by WXY Architecture + Urban Design. The phase cost $53 million. The co-ops were sold through a 2025 Housing Connect lottery to buyers earning up to 80% of Area Median Income (AMI). Buyers needed a 5% down payment, and the homes carry resale restrictions to keep them affordable.

According to Secret NYC, prices ranged from about $145,600 to $264,500, with an average of about $204,000. There are 11 one-bedrooms starting at $145,632, 31 two-bedrooms starting at $189,000 and 16 three-bedrooms starting at $191,500. Each unit has a dishwasher and an in-unit washer and dryer. Funding came in part from HPD's Open Door program. Secret NYC also described a six-story building next door at 1841 Seward Avenue with 117 rental apartments for seniors 62 and older earning up to 50% of AMI, and listed it as part of Phase I.

Secret NYC reported that Stevenson Commons is a 948-unit Mitchell-Lama campus built in the 1970s. Camber Property Group bought it in 2017. Phase I broke ground in March 2024. It is the first part of a $1 billion, three-phase plan across six new buildings. HPD says the full plan will bring more than 700 new affordable homes. Phases II and III are planned as more affordable rental housing.