The NRP Group and Development Partners Selfhelp Realty Group and Foxy Management Break Ground on $214M Affordable Senior Housing Community in the Bronx

The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, today announced the groundbreaking of Sol on Park, a 229-unit, 100 percent affordable senior housing development in the Morrisania section of the Bronx, New York. Co-developed in partnership with Selfhelp Realty Group and Foxy Management, in collaboration with the New York City Housing Authority (NYCHA), the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC), the $214 million project will provide health-conscious amenities and permanently affordable homes for seniors ages 62 and up, including formerly homeless New Yorkers and seniors currently residing in NYCHA’s Morris Houses campus.

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Groundbreaking at Sol on Park in The Bronx, NY (Credit: The NRP Group) L-R: Scott Maxfield, Managing Director, Urban Investment Group at Goldman Sachs; Lisa Trub, Executive Director, Selfhelp Realty Group; Shelly Fox, President, Foxy Management; Jeff Fox, Principal, Foxy Management; Jonathan Gertman, Senior Vice President of Development, The NRP Group; Vanessa L. Gibson, Bronx Borough President; Dr. Douglas York, President and CEO, Union Community Health Center (UCHC); Lisa Bova-Hiatt, Chief Executive Officer, NYCHA; Deputy Mayor Leila Bozorg, Housing and Planning, City of New York; Chantel Jackson, New York State Assembly Member, District 79; Patrick Love, Deputy Commissioner for Development, NYC Department of Housing Preservation and Development (HPD); Heather Beck, Executive Vice President and Chief Real Estate Officer, NYCHA; Teresa Santas, Magnusson Architecture and Planning; and Julie Verni, Magnusson Architecture and Planning.

“Sol on Park represents a tremendous milestone for The NRP Group as our first development in New York City, and one that will deliver much-needed affordable housing for seniors and formerly unhoused New Yorkers,” said Jonathan Gertman, Senior Vice President of Development at The NRP Group. “This project reflects the power of thoughtful public-private partnership, bringing together NYCHA, HPD, HDC, Selfhelp Realty Group, Foxy Management and numerous community stakeholders through one of the most innovative affordable housing financing structures we’ve seen in the country. We’re proud to help deliver a community that will create lasting benefits for residents, the Morris Houses campus and the broader Bronx community.”

“New Yorkers are facing a housing crisis, and we have no time to waste,” said Mayor Mamdani. “Sol on Park shows what is possible when we invest in NYCHA and use every tool available to build affordable homes. This project will give current NYCHA residents and low-income seniors the opportunity to move into new, high-quality homes while strengthening the Morris Houses community. That’s what building a city for the many looks like.”

“Sol on Park is an excellent example of how we can leverage underutilized land on NYCHA properties and innovative tools like Transfer of Assistance to deliver brand-new, modern, and permanently affordable homes for seniors,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “We are investing in the Morris Houses community by reserving 80 apartments for existing residents and providing a brand new space for the Resident Association in the new 18-story building. We are grateful to the development team and all of our city partners for their collaboration and partnership in helping turn this vision into a reality.”

Located at 3728 Park Avenue in Claremont, Sol on Park is an 18-story, 204,000-square-foot residential building located at the northeast corner of Park Avenue and St. Paul’s Place on NYCHA’s Morris Houses campus. Designed by Magnusson Architecture and Planning, the community consists of 229 permanently affordable apartments designed for seniors earning up to 50% of the Area Median Income (AMI), along with more than 8,000 square feet of community space, a pedestrian plaza and a new, fully accessible headquarters for the Morris Houses Resident Association.

Of the 229 residences currently under construction, 80 apartments will be reserved for existing residents of Morris Houses I and II through NYCHA’s Transfer of Assistance program, creating an opportunity for existing residents to move into newly constructed, accessibly priced homes. The project represents New York City’s most significant application of the Transfer of Assistance financing tool to date, advancing the goals of Mayor Zohran Mamdani’s Block by Block housing initiative. An additional 69 apartments will provide supportive housing for formerly homeless seniors and 79 homes will be available through the NYC Housing Connect lottery for low- and middle-income seniors.

“Sol on Park shows what is possible when we bring a human-centered approach to delivering affordable housing. When this project is complete, it will provide brand-new housing to formerly homeless and low-income seniors as well as NYCHA residents – along with new community and open space. I’m grateful to the many public agencies, development partners, and neighborhood residents who have made this milestone possible and who will continue to ensure this deeply needed affordable housing is a success,” said Leila Bozorg, Deputy Mayor for Housing and Planning.

“Sol on Park will help address the urgent housing needs of older New Yorkers by providing nearly 230 deeply affordable homes paired with on-site social services that will allow residents to age with dignity and stability,” said HDC President Eric Enderlin. “HDC looks forward to working with all our partners to bring this transformative project to life.”

“NYCHA residents should benefit from investment and new construction happening on their campus and today, we are one step closer today to being able to deliver 228 permanently affordable senior homes to this community, including 80 apartments for NYCHA residents,” said NYCHA Chief Real Estate Officer Heather Beck. “By using Transfer of Assistance, we will provide senior households at Morris Houses an opportunity to move into a brand new, accessible building with social services ensuring they can age in place in dignity. We look forward to seeing construction advance and to welcoming Morris Houses seniors into their new homes.”

“Sol on Park exemplifies our commitment to both seniors and public housing tenants,” said HPD Commissioner Dina Levy. “Not only will the project create more than 225 affordable homes for seniors, including current NYCHA residents and formerly homeless seniors, it will also provide social services and a new health and wellness center.”

Sol on Park will offer residents convenient access to transit, healthcare, neighborhood amenities and employment centers throughout the Bronx and New York City. The property will provide on-site services through partnerships with Union Community Health Center and Green Bronx Machine’s National Health & Wellness Center.

“We are incredibly grateful to our partners and the multitude of city agencies whose collaboration and ingenuity are a testament to the power of public/private partnerships,” said Jeff Fox, Principal, Foxy Development. “As Foxy’s 6th senior housing project, Sol on Park reflects Foxy’s continued efforts to work with best-in-class partners to provide meaningful, service-enriched housing for our city’s most vulnerable residents.”

“We’re excited to reach this groundbreaking milestone for Sol on Park and are grateful to our partners at NYCHA, HPD, HDC, our co-developers, and especially the residents of Morris Houses, whose collaboration has been essential every step of the way. Sol on Park reflects what’s possible when mission-driven partners come together with a shared focus on seniors and community. We’re proud to break ground on Sol on Park, which will bring hundreds of permanently affordable homes, paired with social services and meaningful amenities, to the Morris Houses campus,” said Lisa Trub, Executive Director, Selfhelp Realty Group. “At Selfhelp Realty Group, Sol on Park reflects our commitment to building deeply affordable housing with on-site services so older adults can age with dignity in the community they call home.”

“Sol on Park serves as a blueprint for how we build deeply affordable and quality housing that enables our older adults to age in place with the dignity and respect that they deserve,” said Bronx Borough President Vanessa L. Gibson. “I am excited to break ground on this important project, which will provide stability and support to our seniors and formerly unhoused New Yorkers, giving our most vulnerable residents an opportunity to live in an environment that prioritizes their security and well-being. Thank you to Mayor Zohran Mamdani, the New York City Housing Authority, the New York City Department of Housing Preservation and Development, the New York City Housing Development Corporation, The NRP Group, Selfhelp Realty Group, and Foxy Management for their support of this project and for bringing us one step closer to the finish line.”

As the president of the Morris Houses Resident Association, I want to thank the Sol on Park team for their commitment to the residents of our development,” said Morris Houses Resident Association President Regina Carter. “More affordable, safe, and secure senior housing is what we needed, and it is exactly what they will deliver. We are excited to have been a part of the planning process with the Sol on Park team, NYCHA, and the entire community. I cannot wait to see our ideas put into practice.

Financial partners for Sol on Park include NYCHA, HPD and HDC. The $214 million financing package represents New York City’s largest use to date of NYCHA’s Transfer of Assistance program, an innovative tool that utilizes public land and public investment to create new permanently affordable housing while opening existing NYCHA apartments for future residents.

Sol on Park represents a significant milestone in The NRP Group’s continued expansion across New York and the broader Northeast. As the firm’s first development in New York City, the project builds on NRP’s growing presence in the state, including recently announced developments such as One Webb Ave in Purchase, New York and The Renaissance at Lincoln Park in New Rochelle. Together, these communities underscore NRP’s commitment to delivering high-quality affordable and mixed-income housing throughout New York while expanding its national development pipeline. Today, The NRP Group has developed more than 68,000 apartment homes nationwide and currently manages over 33,000 residential units across the United States.

Construction of Sol on Park is now underway, with pre-leasing and early move-ins scheduled for early 2029.

About The NRP Group

The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing with a mission to create exceptional rental housing communities for individuals and families, regardless of income. Since its founding in 1994, NRP has developed more than 68,000 apartment homes and currently manages over 33,000 residential units.

Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provide the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, mixed-income, and senior housing.

The NRP Group has been consistently named a largest developer and builder in the U.S. on the NMHC “Top 50” lists, the Top 5 on the Multi-Housing News’ “Top Multifamily Developers” list, named a Top Affordable Housing Developer by Affordable Housing Finance, and is a five-time recipient of NAHB’s Best Multifamily Development Firm of the Year award. The NRP Group has become the top multifamily developer in the U.S. that creates both affordable and market-rate housing at a national scale. Based on over 30 years of experience and expertise, NRP provides construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.

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