Phipps Houses seeks to add 500 units in South Bronx

The nation’s oldest nonprofit organization dedicated to affordable housing is ready to turn the page on a largely vacant site in the South Bronx. Phipps Houses filed a rezoning application with the Department of City Planning for a site at 893-895 East 167th Street in the borough’s Foxhurst neighborhood, Crain’s reported. New York City’s largest affordable housing nonprofit wants to build a 497-unit, 377,000-square-foot development on the site, which Phipps acquired in 2019 for $22.5 million. All of the units would be earmarked for affordable housing. Nearly a fifth of them would also be reserved specifically for formerly homeless individuals. […]This article originally appeared on The Real Deal. Click here to read the full story.