Owning a home in New York City can feel like a fantasy.
In Soundview, it just became a reality for 58 Bronx households.
Priced around $204,000 on average for households earning up to 80% of Area Median Income, the new homes sit in two four-story, all-electric buildings, alongside 117 senior rentals.
Owning a home in New York City can feel like a fantasy.
In Soundview, it just became a reality for 58 Bronx households.
Governor Kathy Hochul announced on October 14 that Stevenson Square Phase I is complete.
The $53 million development created 58 brand-new co-op homes for buyers earning up to 80% of Area Median Income, at an average sales price of about $204,000.
That’s a fraction of what a co-op usually costs in the five boroughs.
It’s also only the beginning: this phase is the first piece of a $1 billion plan to remake the Stevenson Commons campus.
By the numbers
- 58 co-op homes for sale, in two new four-story buildings
- 117 affordable rental apartments for seniors 62 and older
- ~$204,000 average sales price
- 80% of Area Median Income is the top income limit for buyers
- $53 million total cost of the homeownership phase
- 700+ new affordable homes planned across the full redevelopment, per HPD
What’s inside
The co-ops sit at 1843 and 1847 Seward Avenue, in two new four-story buildings designed by WXY Architecture + Urban Design.
The 58 homes break down like this:
- One-bedrooms: 11 homes, starting at $145,632
- Two-bedrooms: 31 homes, starting at $189,000
- Three-bedrooms: 16 homes, starting at $191,500
Those were the starting prices in the 2025 lottery. Overall, prices ranged from about $145,600 to $264,500, depending on unit size and income tier.
These aren’t bare-bones starter homes. Every unit gets a dishwasher and an in-unit washer and dryer, which is a luxury in many NYC apartments at any price. The buildings also have landscaped front and rear yards and bike storage.
Next door, the six-story building at 1841 Seward Avenue holds 117 rental apartments for seniors 62 and older earning up to 50% of AMI. That lets longtime Soundview residents stay in the neighborhood as they age, while first-time buyers move in alongside them.
From Mitchell-Lama to Stevenson Square
Stevenson Commons has been part of New York’s affordable housing story for half a century. The 948-unit campus was built in the 1970s under Mitchell-Lama, the state program that has created middle-income housing since the 1950s.
Camber Property Group bought the property in 2017. The developer, with architecture firm WXY, drew up a master plan to add new homes on underused land around the existing complex.
The result is a $1 billion, three-phase plan across six new buildings, mostly on the western half of the block:
- Phase I (complete): 58 co-ops and 117 senior rentals on Seward Avenue. It broke ground in March 2024.
- Phases II and III (planned): more affordable rental homes. HPD says the full plan will bring more than 700 new affordable homes to the Bronx.
The wider campus is also set to include about 30,000 square feet of community space, tennis courts, a walking path and a sensory playground.
Who paid for it
The low prices come from a large stack of public funding for the homeownership buildings:
- About $21.2 million from the NYC Department of Housing Preservation and Development’s Open Door program
- $11.6 million from New York State Homes and Community Renewal’s Affordable Homeownership Opportunity Program
- $3.8 million in capital funding from Council Member Amanda Farías, former Council Member Ruben Diaz Sr. and former Bronx Borough President Ruben Diaz Jr.
Open Door is HPD’s program for building affordable co-ops and condos for moderate-income buyers. The subsidy keeps sales prices low, and the homes come with resale restrictions so they stay affordable for the next buyer.
Habitat for Humanity New York City and Westchester County partnered on the homeownership side. HPD also financed the senior rental building.
The buildings are all-electric and Enterprise Green Communities certified. They have a solar array, energy-efficient heating and cooling, and efficient appliances, which should help keep monthly bills down for new owners.
“Every New Yorker deserves the opportunity to put down roots in a community they love,” Governor Hochul said.
Can you still apply?
Not for these 58 homes. The Phase I co-ops went through the NYC Housing Connect lottery in summer 2025, and applications closed on August 25, 2025.
Here’s how that lottery worked, which is a good guide for future Open Door sales:
- Income: households earning 70% or 80% of AMI could apply, with income and asset limits.
- Down payment: 5% of the purchase price, held in the buyer’s account for three months before the eligibility appointment.
- Local preference: 20% of units were set aside for residents of Bronx Community District 9.
- Primary residence: buyers must live in the home and pay monthly maintenance.
Want in on the next one? Create a profile on NYC Housing Connect and check listings regularly for upcoming Open Door co-ops and Stevenson Square’s future rental phases. For questions, call 311.
Life in Soundview
The new homes come with a lot of the neighborhood built in. Stevenson Commons already has a supermarket and the Stevenson Family Health Center, which offers primary care, dental, behavioral health, a pharmacy and social services.
Green space is close by too. Soundview Park and Pugsley Creek Park are both within walking distance.
Getting into Manhattan is easier than many people think. Residents can reach the subway, and the Soundview NYC Ferry terminal runs boats to East 34th Street and Wall Street.
“Today’s ribbon cutting is an important milestone, but it is only the beginning,” said Council Member Amanda Farías.
