Photo by Magnusson Architecture and Planning, P.C. NEW YORK – Today, Mayor Zohran Kwame Mamdani announced the financial closing for Sol on Park, a new affordable housing development that will create 229 affordable homes for older New Yorkers on the New York City Housing Authority’s (NYCHA) Morris Houses campus in the Bronx. Developed through a partnership among NYCHA, the Department of Housing Preservation and Development (HPD) and the Housing Development Corporation (HDC), the $214 million project demonstrates how public land, public investment and innovative financing can work together to deliver desperately needed affordable housing. The project is the City’s largest use to date of the Transfer of Assistance program, an innovative financing tool that the Mamdani administration plans to expand through its Block by Block housing plan. Sol on Park will include 80 apartments reserved for current NYCHA residents living at Morris I and II, 69 homes for formerly homeless…
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