Stevenson Square Phase One Nears Completion in Soundview, The Bronx

Construction is nearing completion on the first phase of Stevenson Square, an all-affordable residential development in Soundview, The Bronx. Designed by WXY Architecture + Urban Design in collaboration with NV5 and developed by Camber Property Group, the $1 billion three-phase master plan is being built on underdeveloped land surrounding the Mitchell-Lama complex, called Stevenson Commons. The first phase will yield 175 affordable units on a plot generally bounded by Stevenson Commons to the north, Seward Avenue to the south, White Plains Road to the east, and Thieriot Avenue to the west.

81 mixed-income apartments available in the heart of Bushwick, from $788/month

A housing lottery launched this week for 81 mixed-income apartments at a new residential development in Bushwick. Located at 1601 Dekalb Avenue, the nine-story building offers competitively priced modern residences in the center of the popular Brooklyn neighborhood. New Yorkers earning up to 40, 80, and 120 percent of the area median income can apply for the units, priced from $788/month studios to $4,000/month three bedrooms.

Developed by Camber Property Group and RiseBoro Community Partnership and designed by Aufgang Architects, the building contains 127 units. The site, once a vacant manufacturing lot, underwent a lengthy rezoning process to allow for residential development. The developers closed on a $75 million deal for the project in December 2023.

Amenities include bike storage lockers, 24/7 security, a shared laundry room, a community center, and a spacious courtyard. The apartments feature air-conditioning, in-unit appliances such as dishwashers, and free Wi-Fi.

Vernon affordable housing complex sells for $11.5M

Avon-based affordable housing developer Honeycomb Real Estate Partners recently partnered with New York-based Camber Property Group in an $11.5 million purchase of the 86-unit Dobbs Crossing affordable housing complex in Vernon.

The deal will preserve affordable rents, while clearing the way for major renovations at the seven-building complex at 1170 Hartford Turnpike, according to the buyers.

The acquisition marks Camber’s second investment in Connecticut, following its $23 million purchase in 2023 of the 106-unit Oakland Heights Apartments complex in Manchester, at 360 Oakland St. In that deal, Camber partnered with the Community Preservation Corp., which provided a portion of the equity for the purchase.

In Vernon, Camber and Honeycomb said they plan to update apartment interiors, modernize kitchens and bathrooms, and make energy-efficient upgrades to heating and electrical systems. Exterior improvements, including new paving and lighting, are also planned.

Honeycomb Real Estate Partners is led by Managing Partner Lewis Brown.

Camber Principal Rick Gropper said his firm looks forward to growing its presence in Connecticut.

Dobbs Crossing was developed in 1980 under a U.S. Department of Housing and Urban Development mortgage program. The complex includes 56 one-bedroom units, six two-bedroom units and 22 three-bedroom units. Amenities include a playground, basketball court, laundry facilities and on-site parking.

As part of the deal, Camber secured a new 20-year housing-assistance payments contract with HUD. Corridor Property Management, which also oversees Oakland Heights, will handle Dobbs Crossing’s day-to-day operations.

Financing for the acquisition was provided by Merchants Bank.