L+M Development Partners, Type A Projects, BronxWorks & The Hip Hop Museum cut the Ribbon at Bronx Point

Photo: Sylvester Zawadzki

Elected officials, community leaders, and hip-hop legends celebrate the official opening of the $349 million mixed-use project

Bronx Point creates 542 new affordable housing units in the South Bronx and will be the future home of The Hip Hop Museum

A host of elected officials, hip-hop luminaries and community leaders joined L+M Development Partners, Type A Projects, BronxWorks, and The Hip Hop Museum for a ribbon cutting ceremony to celebrate the opening of the housing and public space components at phase one of Bronx Point, the much-anticipated $349 million mixed-use development on the Harlem River waterfront in the South Bronx.

The event marked the official opening of 542 new housing units at the project – which was co-developed by L+M and Type A – as well as 2.8 acres of a brand new waterfront public park and esplanade open to the public. In addition to the housing, open space, and engaging retail, Bronx Point will be the future home of The Hip Hop Museum, the world’s premiere institution chronicling the history and impact of hip-hop, as the Bronx-born genre celebrates its 50th birthday this year.  Bronx Point will also feature an early childhood space run by BronxWorks, one of New York City’s most effective and respected non-profit organizations whose mission is to help individuals and families improve their economic and social well-being.

Representatives from a number of City and State organizations, including Bronx Borough President Vanessa Gibson, the Empire State Development Corporation, the New York City Economic Development Corporation, the New York City Department of Housing Preservation and Development, the New York City Housing Development Corporation, the New York City Department of Cultural Affairs, the New York City Department of Parks & Recreation, Bronx Community Board #4, Wells Fargo, and BronxWorks, were on hand to celebrate the opening of Bronx Point.

Bronx Point was designed by S9Architecture and Urban Atelier Group handled construction for the project. Marvel Architects with Abel Bainnson Butz designed the outdoor esplanade space, while Gensler, Ralph Appelbaum Associates, and Michael Ford will design the museum’s interior.

Phase one of Bronx Point was funded through a mix of both public and private capital, including financing from the New York City Department of Housing Preservation and Development, the New York City Housing Development Corporation, Empire State Development, Wells Fargo, and additional private funding. The overall funding includes $323.5 million for the building, along with $25.5 million for the waterfront esplanade’s construction from the New York City Economic Development Corporation.

The 542 apartments at the 100 percent affordable development were mostly available through the lottery for families earning between 30 percent to 120 percent of Area Median Income, and apartments for the formerly homeless. Over 63,000 New Yorkers applied to live at Bronx Point. Bronx Point includes 135 studios, 192 one-bedrooms, 122 two-bedrooms, and 93 three-bedrooms. Tenant amenities will feature an outdoor terrace for residents, on-site laundry, a children’s room, a community lounge, a bike storage room, an on-site fitness center, and around-the-clock front desk security. The project’s second phase is anticipated to include additional housing units along with additional retail and community space. 

Bronx Point features incredible public space, most notably the 2.8 acres of waterfront public park and esplanade. This esplanade features a playground, landscaped public walkway and seating areas, lawns, waterfront lookouts, an extended BBQ area, fitness zones for adults, and publicly accessible bathrooms.

Bronx Point is within walking distance to multiple borough institutions, including the Bronx Children’s Museum, Hostos Community College, Bronx Terminal Market, Yankee Stadium, the Bronx General Post Office, Lincoln Hospital and Bronx Civic Center district. The development is also at the center of public transportation, with subway stations for the 2, 4, 5, B and D lines nearby.

ABOUT L+M DEVELOPMENT PARTNERS

At L+M Development Partners, working together to build stronger communities is our mission. Our double bottom line philosophy means that we measure success not only in financial returns but also by the positive impacts we make in the communities we serve.

Founded in 1984, L+M is a full-service real estate development firm that develops, invests, constructs, and manages properties with industry-leading innovation. Nationally recognized as a leading affordable housing developer, L+M and its affiliate companies are responsible for over $10 billion in development and investment and have acquired, built, or preserved nearly 40,000 high-quality residential units in a variety of urban markets nationwide, primarily in New York’s tristate area.

Please visit our website for more information: http://lmdevpartners.com. To learn more about our mission and values, go to https://lmdevpartners.com/our-mission-values/.

ABOUT TYPE A PROJECTS
Type A Projects LLC (“Type A”) is Certified Woman-Owned Business Enterprise (WBE) dedicated to building affordable and inspiring places to live, work, learn, play and grow.  Type A was formed in 2013 to capitalize on the decades of nonprofit, commercial, institutional and mixed-use development experience of its two founders who are individually and collectively focused on creating vibrant and affordable communities that underpin the diverse fabric of NYC. 

After more than a decade developing over a 1,000,000 square feet of community schools and nonprofit facilities in historically underserved neighborhoods across NYC,  Type A expanded its focus to affordable, senior and supportive housing in 2016.  Since then, Type A’s two Principals now have over 1,100 units of affordable and supportive housing completed/in development in NYC and Newark. All of these projects are anchored by community service organizations and aimed at addressing urgent needs beyond housing including primary and preventative medicine, mental health and adult protective services, early childhood education, afterschool programming, senior services, and acres of publicly accessible community-focused open space.

Each of Type A’s projects is a testament to the Principals’ ability to expertly lead and manage complex real estate projects in dense urban areas. They have successfully directed large, multi-disciplinary teams through all phases of development including site due diligence, regulatory approvals, inter-agency coordination, financing, design documentation, construction, marketing, leasing, close-out and occupancy.

ABOUT BRONXWORKS

With more than 50 locations throughout the borough, BronxWorks has worked from the ground up in Bronx communities for over 50 years to help residents build healthy, stable futures for themselves and their neighborhoods. BronxWorks helps individuals and families improve their economic and social well-being. From toddlers to seniors, we feed, shelter, teach, and support our neighbors to build a stronger community. For more information about BronxWorks, visit www.bronxworks.org. 

ABOUT THE HIP HOP MUSEUM

The Hip Hop Museum in the Bronx celebrates and preserves the history of local and global Hip Hop music and culture to inspire, empower, and promote understanding. Anchored in the birthplace of the culture, The Hip Hop Museum, opening in 2025 in the Bronx, will provide a space for audiences, artists, and technology to converge, creating unparalleled educational and entertainment experiences around the Hip Hop culture of the past, present, and future.

For more information visit THHM.org and follow us on Instagram, X aka Twitter, Facebook, LinkedIn and Tik Tok.