Bronx, December 5, 2025
The Beitel Group is making a significant impact in the Bronx with a $305 million construction loan for a mixed-use development in Mott Haven. This project will include 755 rental units, with at least 25% designated as affordable housing, contributing to the area’s economic growth and addressing housing shortages. Set to be completed by June 2026, the development will feature a range of modern amenities, enhancing residential and commercial options in the community.
New York City, NY
Beitel Group’s $305 Million Plan Boosts Mott Haven’s Development
Affordable Housing Initiative Sets Course for Economic Growth
In a pivotal move for the Bronx, the Beitel Group has secured a substantial $305 million construction loan to revive a long-stalled mixed-use development project in the Mott Haven neighborhood. This ambitious initiative includes two connected towers—one rising 40 stories and the other 26 stories—encompassing 755 rental units at 355 Exterior Street. A significant highlight of this development is that at least 25% of these units will be allocated as affordable housing, thereby qualifying the project for the 421a program. Set for completion in June 2026, this venture not only aims to address the community’s pressing need for affordable housing but also underscores the city’s commitment to fostering economic growth through private investment.
The ongoing revitalization in Mott Haven has the potential to bolster the local economy while offering residents enhanced housing options. As urban developers and local governments work together, the project stands as a testament to the resilience of small businesses and entrepreneurs who contribute significantly to community prosperity.
Context: Mott Haven’s Redevelopment Landscape
Mott Haven has witnessed a surge of development efforts targeting both economic revitalization and the provision of affordable housing. Previous projects, such as the Betances Family Apartments, which opened in July 2024 and offers 101 affordable units, and Crossroads Plaza, featuring a 425-unit mixed-income development completed with the partnership of the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC), reflect this focused endeavor to mitigate housing shortages. These initiatives are essential for propelling economic growth within the Bronx, ensuring that community needs are met while fostering a favorable environment for business and innovation.
Beitel Group’s Development Overview
The project’s comprehensive suite of amenities not only aims to attract potential residents but also enhances the overall quality of life in Mott Haven. With features such as nearly 200 parking spaces, over 11,000 square feet of retail space, an outdoor pool, a gym, and a rooftop terrace, the development caters to modern urban living alongside affordability. This combination is crucial for supporting both lifestyle and economic activity in the area.
Community Impact and Economic Opportunities
By offering a substantial percentage of affordable housing, the development aligns closely with the city’s current initiatives focused on providing various housing options for low- and moderate-income residents. This contributes directly to the reduction of housing shortages while enhancing neighborhood attractiveness for both residents and businesses. As the local community and businesses thrive together, there is an evident synergy between residential expansion and economic development, which is vital for a healthy urban ecosystem.
Conclusion: A Blueprint for Future Growth
As the Beitel Group’s development begins to take shape in Mott Haven, its impact on affordable housing availability and local economic growth cannot be overstated. The project exemplifies how private investments can positively influence community development while addressing urgent housing needs. To ensure continued growth within New York City, it is essential for residents to engage with local developments and support initiatives that foster economic and community advancement.
For those interested in the affordable housing options available in Mott Haven, more information is accessible through the NYC Housing Connect website or local housing authorities.
Frequently Asked Questions (FAQ)
What is the Beitel Group’s development in Mott Haven?
The Beitel Group is advancing a mixed-use development in Mott Haven, comprising two connected towers totaling 755 rental units, with at least 25% designated as affordable housing. Completion is slated for June 2026.
What amenities will the new development offer?
The development will include nearly 200 parking spaces, over 11,000 square feet of retail space, and residential amenities such as an outdoor pool, gym, and a rooftop terrace.
How does this project contribute to affordable housing in Mott Haven?
At least 25% of the units will be designated as affordable housing, qualifying the project for the 421a program, thereby increasing affordable housing availability in the neighborhood.
What other affordable housing projects have been developed in Mott Haven?
Previous initiatives include the Betances Family Apartments, offering 101 affordable units, and the Crossroads Plaza, a 425-unit mixed-income development completed in collaboration with HPD and HDC.
Where can residents find more information on affordable housing opportunities in Mott Haven?
Residents can visit the NYC Housing Connect website or contact local housing authorities for more information on affordable housing opportunities in Mott Haven.
Key Features of the Beitel Group’s Mott Haven Development
| Feature | Description |
|---|---|
| Project Name | Beitel Group’s Mott Haven Development |
| Location | 355 Exterior Street, Mott Haven, Bronx, NY |
| Project Type | Mixed-use development with residential and retail spaces |
| Total Units | 755 rental units |
| Affordable Housing Percentage | At least 25% of units designated as affordable housing |
| Amenities | Outdoor pool, gym, rooftop terrace, nearly 200 parking spaces, over 11,000 square feet of retail space |
| Completion Date | June 2026 |
Now Happening on X
- @NYBizJournal (December 4, 2025): A long-stalled two-tower development in the Bronx’s Mott Haven neighborhood may be moving forward several years after redevelopment plans first emerged for the property. View on X
- @NYBizJournal (December 5, 2025): A long-stalled two-tower development in the Bronx’s Mott Haven neighborhood may be moving forward several years after redevelopment plans first emerged for the property. View on X
- @tradedny (December 4, 2025): A $403,750 loan was secured by Joshua Brown and Rayshaun Addison for a multifamily development at 151 Summit Place in the Bronx, pushing forward the project. View on X
- @6sqft (December 3, 2025): Council Member Ayala announced details for 2319 Third Avenue, a mixed-use project with more than 400 affordable rental units and roughly 80 affordable homeownership units. View on X
- @tradedny (December 4, 2025): Yanni Kouzilos and Douglas Romero provided a $15,150,000 construction loan to Wei Chen for a development site at 10-28 47th Avenue in Long Island City. View on X
- @tradedny (December 2, 2025): Gjovan Rroku purchased a development site at 740 East 175th Street in the Bronx for $1,000,000 from Sharon Hakmon, brokered by Mike Sezan and Joe Mast. View on X
- @jgmoore (November 30, 2025): New library and affordable homes are coming to the Bronx, highlighting ongoing development efforts in the area. View on X
Deeper Dive: News & Info About This Topic
HERE Resources
Brookfield Properties Plans Residential Conversion for Four Manhattan West
Domain Cos. Acquires Vorea Group to Enhance Development Capabilities
Partial Collapse of Bronx Public Housing Building Due to Explosion
Author: STAFF HERE NEW YORK WRITER
The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
