Nearly 1,000 Affordable Homes Approved for the Bronx Amidst Historic Housing Crisis
City Council Votes 47-0 to Approve Community-oriented Development by
Long-time Property Owners Simone Development
City Leaders Applaud Effort that Will Create Needed Housing on Underutilized Site and
Open the Bronx River Waterfront to the Community
Bronx, New York – September 28, 2023 – The City Council today took its most significant action so far this year to address the urgent and growing housing crisis, voting 47-0 to approve a proposal by Simone Development that will create 970 permanently affordable homes in the Bronx. It is among the largest affordable housing applications approved to-date in 2023.
“As an organization that cares deeply about the borough that we have called home for decades, we are grateful for the opportunity to not only help address our housing crisis, but also connect our community to its beautiful waterfront,” said Patricia Simone, principal of Simone Development. “We applaud Chair Salamanca, Speaker Adams, members of the City Council, Mayor Adams, and Borough President Gibson for their leadership and action to create new, high-quality affordable homes for our neighbors.”
Simone Development, a Bronx-based company with a rich legacy of driving economic development in the borough, has owned the site for three generations and is expected to invest approximately $500 million in the development along the Bronx River. The development will consist of apartments thoughtfully designed to cater to diverse needs and family sizes, with studios, one-bedroom units, two-bedroom residences, and three-bedroom homes.
“I am thrilled that Simone Development’s proposal to bring 970 affordable housing units to the Bronx has been approved. This transformative project will help address our City’s ever-growing housing crisis by providing truly affordable residential units to working class individuals and families, and will also bring new life to the underutilized land that has gone untouched within my District,” said New York City Council Member Rafael Salamanca. “I would like to thank Speaker Adams, my City Council colleagues, and Mayor Adams for their dedication to helping us see this project over the finishing line, and I look forward to seeing the positive change that this development will bring to my community.”
“We need all hands on deck to address the shortage of high quality affordable housing in our city and Simone Development is stepping up with a transformative vision for this transit-oriented site along the banks of the Bronx River,” said HPD Commissioner Adolfo Carrión Jr. “Congratulations to the development team and the City Council for moving this plan forward – we look forward to collaborating with Simone to bring nearly 1,000 new affordable homes and more open space to this growing part of The Bronx.”
It’s expected that a portion of these new homes will be deeply affordable and accessible to individuals earning up to $49,000 a year, with others available to individuals earning a range of incomes up to $108,000 a year, including essential workers such as firefighters, teachers, and union laborers. Simone Development has been working closely with the community throughout this process and will continue to do so as it engages with key stakeholders and financing agencies to develop a mix of affordability that reflects the community’s goals.
In addition to providing much-needed affordable housing, this project will create over an acre of new public open space along the Bronx River. The development will include an amphitheater, a pedestrian promenade, river overlooks, outdoor dining and seating areas, native plantings, bio-swales, and connections to neighboring parks and greenways. It is a testament to Simone Development’s commitment to enhancing the quality of life for the Bronx community and ensuring that residents have access to green, recreational spaces within the city.
The proposed development will consist of three buildings, each designed to harmonize with the surrounding neighborhood’s architectural aesthetics.
Historically, the Proposed Rezoning Area has been home to industrial and transportation-related uses. The site at 1460 Sheridan Boulevard housed several railroad companies, including a powerhouse and other operational facilities during the early 20th century. The existing building on this site was constructed in 1965 and later used as an ironworks facility in the 1970s. Similarly, 1480 Sheridan Boulevard was occupied by a coal and lumber yard during the first half of the 20th century and later used for concrete slab manufacturing, welding, and automobile repair. The existing buildings on the site date back to 1924, reflecting the rich history of this location.
About Simone Development:
Simone Development is a family-owned and operated real estate company with a strong commitment to economic development in the Bronx. With a legacy spanning three generations, Simone Development has been a driving force behind transformative projects that enhance the Bronx community and provide vital resources such as affordable housing – including the Hutchinson Metro Center, one of the largest mixed-use developments in the region. This $500 million development at 1460-1480 Sheridan Boulevard reflects Simone Development’s unwavering dedication to creating positive change in the Bronx.
Mercy College Signs Long-Term Commitment to Bronx Campus at Simone Development’s Hutchinson Metro Center
Original Anchor Tenant at Borough’s Most Successful Commercial Development Extends Lease
BRONX, NY (May 11, 2023) – Simone Development Companies has signed a long-term lease renewal with Mercy College for 125,522 square feet of classroom, administrative and amenities space at 1200 Waters Place in the Bronx, renewing the institution’s commitment to the borough and the Hutchinson Metro Center, which they helped anchor more than 20 years ago.
James MacDonald, vice president of leasing at Simone Metro Properties, assisted by Sean Heneghan, assistant general counsel, represented the owners in the lease negotiations. Bill Cuddy and Greg Maurer-Hollaender of CBRE represented Mercy College in the renewal.
“Mercy’s lease renewal with Simone Development Companies for its Bronx Campus demonstrates the College’s confidence in the site to provide the best possible environment for our deserving students, staff and faculty,” said Mercy College President Tim Hall. “The Mercy College Bronx Campus will continue to offer state-of-the-art facilities and academic programs that lead to in-demand jobs. It will also position Mercy to continue to evolve to meet the workforce and educational trends of the future and strengthen the College’s impact in the Bronx community.”
The Mercy College Bronx Campus at the Hutchinson Metro Center provides a vibrant, diverse student population the opportunity to achieve their academic and professional goals in a dynamic and modern learning environment. The undergraduate and graduate degree and ceritifcate programs offered at the Bronx Campus prepare students for in-demand careers, so that they are hired soon after graduation.
Degree programs include nursing, childhood education, community health, gerontology, data analytics, health services management, criminal justice, cybersecurity and finance, among many others. State-of-the-art facilities, such as fully-equipped health and science labs and anatomage tables provide maximized opportunities for learning, while student-centered spaces such as the Veterans Lounge facilitate students’ positive assilimiation to college. A landscaped courtyard offers a serene setting for study and reflection in an otherwise bustling, New York City-borough. Partnerships between the Campus and Bronx community organizations and businesses have resulted in extensive and rewarding internship, clinical and volunteer opportunities, many of which are conveniently located for Mercy Bronx students.
“More than 20 years ago, Mercy College was instrumental in the development of 1200 Waters Place and the success of Simone Development’s Hutchinson Metro Center, transforming an underutilized, obsolete state hospital site that was closed off to the public into a vital part of the Northeast Bronx community,” said Joe Simone, president of Simone Development. “Today we are extremely gratified that Mercy has chosen to renew their commitment to our borough and our expanding development.”
In 2003, Mercy College became the second anchor tenant to commit to 1200 Waters Place, a three story, 433,286 square-foot new development that at the time was the first Class A office building developed in the Bronx in more than a decade. During the next 20 years, the 42-acre Hutchinson Metro Center became the most successful commercial development project in the history of the Bronx. The current center is a 1.4-million-square-foot mixed-use campus of office, medical, retail, hospitality and academic space. The Hutchinson Metro Center is currently home to over 80 leading businesses, healthcare and educational institutions, and federal, state and city agencies, employing over 8,000 people and welcoming more than 5,000 daily visitors.
In addition to Mercy College, other major tenants at 1200 Waters Place include The New Jewish Home, New York City Housing Authority, the Administration of Children’s Services, and a major federal agency.
About Simone Development Companies
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.
Joseph Simone of Simone Development Says Greenway to Enhance New York City’s Expanding Bike Lane Network
Bronx, N.Y. (May 1, 2023)—New York City’s expansion of the Harlem River Greenway will complement Simone Development Companies’ decision to build a greenway on its undeveloped property, said president Joseph Simone.
“Public greenways with dedicated bicycle paths will help private property owners develop new facilities for the growing life-sciences sector whose employees demand alternative modes of transportation,” said Joe Simone, president of Simone Development Companies.
On April 18, New York City launched a series of public-engagement sessions to plan the Harlem River Greenway expansion into the Bronx. The proposed seven-mile route will connect Randall’s Island at the southern tip of the Bronx to Van Cortlandt Park in the north, with a critical north-south bike commuting corridor.
Greenways are expanding throughout New York City, particularly in areas targeted for new development. At the Manhattanville Factory District in West Harlem, the construction of a three-block pedestrian greenway along buildings containing wet labs and offices provides the emerging innovation corridor with an attractive amenity for tenants and their employees.
Simone Development Companies is pursuing a similar strategy at its Hutchinson Metro Center in the Bronx. The Hutchinson Metro Center’s undeveloped southern section will include lawns, seating areas and a greenway through the center of the development. The complex already has a health club, hotel and bicycle trails running along the Hutchinson River Parkway.
“We’ve heard from employers that outdoor amenities like bike trails or landscaped plazas are becoming increasingly important to the top talent that they seek. Simone Development Companies is focused on designing optimal outdoor environments for its Hutchinson Metro Center expansion to accommodate this focus on public spaces,” said Megan Guy, Simone Development Companies’ senior vice president of development.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.
New York’s award of $13.5 million for carbon-neutral housing is motivating builders to embrace sustainable technologies, said Joseph Simone of Simone Development Companies
Bronx, N.Y. (April 5, 2023)—New York’s March 21 award of $13.5 million for low-carbon residential projects is motivating builders of affordable housing to incorporate the latest sustainable technologies, said Joseph Simone of Simone Development Companies.
“New affordable housing complexes often emphasize amenities like fitness and community rooms, but it is equally as important that builders consider the cost feasibility of climate-friendly measures like low-flow plumbing, LED light fixtures and geothermal heat pumps as electricity and natural gas prices rise,” said Joe Simone, president of Simone Development Companies.
Climate-friendly affordable housing made news on March 21 when New York Gov. Kathy Hochul announced the winners in the third round of the Buildings of Excellence Competition for the design, construction and operation of clean, resilient, and low-carbon or carbon neutral multifamily buildings. The competition supports New York’s goals to reduce greenhouse gas emissions 85 percent by 2050.
In New Rochelle, N.Y., Simone Development Companies and Stagg Group are building West View Apartments, a 186-unit affordable housing development for families whose income is at or below 60% of the area median income.
West View Apartments’ design embraces the spirit of the Buildings of Excellence Competition with sustainability measures that include compliance with Enterprise Green Community and Energy Star MFNC (multifamily new construction) standards, low-flow plumbing fixtures, LED light fixtures with motion sensors, dark-sky-compliant exterior light fixtures and the use of paint and sealants with low volatile organic compound emissions.
New Rochelle is in the midst of a transit-oriented development boom that has 25 significant downtown projects either completed or under construction. Simone Development Companies’ and Stagg Group’s West View Apartments tower will deliver a complex with all-affordable units to this dynamic residential market.
“We are proud to offer New Rochelle a lower-cost and amenity-rich residential opportunity that upholds the highest environmental standards while looking no different from the surrounding luxury towers. This building proves that climate-smart affordable housing is doable with careful planning,” said Megan Guy, senior vice president of development at Simone Development Companies.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.
Joseph Simone says that Housing is Critical for New Life Science Sites
Bronx, N.Y. (March 21, 2023)—New life science campuses are incorporating more housing to satisfy knowledge workers’ demand for live, work, play communities, said Joseph Simone of Simone Development Companies.
“Life scientists and tech workers increasingly expect communities where walking or biking to work are viable options. These employee preferences are leading developers of mixed-use healthcare and life science projects to incorporate more workforce housing into their plans,” said Joe Simone, president of Simone Development Companies.
The latest example of this mix is New York developer RXR’s plan for a $3 billion community in North Carolina’s Research Triangle. RXR has proposed building 750,000 square feet for life-science research, logistics and education. A housing component includes 1,100 single-family homes and 1,000 rental apartments.
RXR called the development site in Apex, N.C., a “superstar region” with strong education and healthcare systems that are magnets for knowledge workers in search of a superior quality of life.
Access to housing is essential for the growing health tech sectors nationwide. At the March 7 Life Sciences Forum in Worcester, Mass., the president of Lykan Bioscience said that his region’s high housing costs hindered his company’s growth and recruitment.
In the Bronx, Simone Development Companies’ Hutchinson Metro Center is a 42-acre, mixed-use campus planning a 33-acre expansion that may include life science labs, medical offices, housing, and destination retail. Around the Hutchinson Metro Center, New York City’s planners envision up to 6,000 new housing units to support the growth of employers in this job center populated by hospitals, the Albert Einstein College of Medicine and affiliated healthcare businesses.
“Life science and healthcare executives have clearly linked the availability of quality workforce housing to their growth. Simone Development Companies is studying the feasibility of workforce housing opportunities for our Hutchinson Metro Center expansion to enhance our future tenants’ recruitment efforts,” said Joanna Simone, principal and president of leasing and property management operations at Simone Development Companies.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.
Joseph Simone says New York City’s land-use initiatives will deliver more housing and jobs
New York City’s plans to update neighborhood land uses will help businesses, create more housing, and promote sustainability, said Joseph Simone of Simone Development Companies.
“New York City’s ambitious plans for reducing greenhouse gas emissions include creating new job districts and allowing taller apartment buildings near train stations to reduce single-passenger car use. This policy will improve New Yorkers’ connections to new employment districts emerging near mass transit facilities,” said Joe Simone, President of Simone Development Companies.
The modernization of New York City’s land use rules is part of Mayor Eric Adams’ goal to build 500,000 new homes over the next decade. Under the mayor’s “Build Everywhere” initiative, up to 6,000 new housing units will be built in the East Bronx by 2027 near four new Metro-North Railroad stations also expected to open that same year. The Build Everywhere push in the East Bronx is projected to create 10,000 jobs near the new train stations, allowing workers to sustainably commute by public transportation.
One of the East Bronx neighborhoods targeted by the Build Everywhere initiative is Morris Park, already home to a large job center due to the presence of hospitals, the Albert Einstein College of Medicine and affiliated healthcare businesses. Simone Development Companies’ Hutchinson Metro Center represents a significant portion of the area’s employment numbers, and it sits next to the future Morris Park Train Station.
The Hutchinson Metro Center is a 42-acre, mixed-use campus planning a 33-acre expansion that may include life science labs, medical offices, and destination retail, among other uses.
“Simone Development Companies supports New York City’s effort to increase the quantity and quality of workforce housing, which is critical for the hospitals in Morris Park and for employers considering locating in our campus or anywhere in the region,” said Patricia Simone, principal and president of Simone Management Group.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.