New York City has reached a major milestone in its effort to expand affordable housing, with the financial closing completed for Sol on Park, a $214 million development that will provide 229 affordable apartments for older adults in the Bronx.
The project will rise on the New York City Housing Authority’s (NYCHA) Morris Houses campus and is being developed through a partnership involving NYCHA, the Department of Housing Preservation and Development (HPD), the New York City Housing Development Corporation (HDC), and private development partners.
City officials say Sol on Park will transform underused public land into permanently affordable housing while helping address the growing demand for homes designed for seniors.
Mayor Zohran Mamdani said the project demonstrates the city’s commitment to expanding affordable housing through creative financing and public-private partnerships.
“Older New Yorkers deserve safe, affordable places to live, and Sol on Park moves us closer to that goal,” Mamdani said, noting that the development will strengthen both the Morris Houses community and the city’s broader affordable housing efforts.
Housing for seniors and existing residents
The development will include a mix of affordable and supportive housing options tailored to different community needs.
Under the housing plan:
- 80 apartments will be reserved for current residents of NYCHA’s Morris I and Morris II developments.
- 69 units will provide supportive housing for formerly homeless seniors.
- 79 apartments will be available to low- and moderate-income older adults through New York City’s Housing Connect lottery.
Officials said the project represents the largest use to date of the city’s Transfer of Assistance financing program, a model designed to unlock new affordable housing opportunities on public land while preserving long-term affordability.
Sustainable design and community amenities
Sol on Park is being designed to meet Passive House and LEED Platinum sustainability standards, reducing energy consumption while creating healthier indoor environments for residents.
In addition to new housing, the development will feature:
- Community space
- A pedestrian plaza
- Bicycle storage
- Laundry facilities
- Fitness rooms
- Computer labs
Residents will also have access to health and wellness services through partnerships with Union Community Health Center and Green Bronx Machine’s National Health & Wellness Center.
The project will also include supportive programming, such as wellness services, social support and workforce development opportunities for local residents.
Deputy Mayor for Housing and Planning Leila Bozorg said developments like Sol on Park highlight how innovative financing strategies and public land can be leveraged to create affordable housing while strengthening neighborhoods.
NYCHA Chief Executive Officer Lisa Bova-Hiatt said the project is the result of years of planning and community engagement that began in 2019, ensuring the needs of Morris Houses residents were incorporated into the final design.
HDC President Eric Enderlin added that the development will help meet the city’s growing demand for affordable senior housing while supporting long-term investment in the Morrisania neighborhood.
Construction is expected to begin following the financial closing, with the first residents anticipated to move into the new building in early 2029.
Officials say Sol on Park is part of the city’s broader Block by Block housing initiative, which seeks to create 200,000 new affordable homes and preserve another 200,000 over the next decade while increasing investment in public housing across New York City.
