Omni New York, a developer and landlord that specializes in revitalizing affordable housing units, has paid more than $137 million for a massive residential complex in the Bronx. The property is located at 16 Richman Plaza in the borough’s Morris Heights section and is composed of 1,654 below-market-rate rentals. Omni plans substantial revitalization, but emphasized that the units—which range from studios to 4-bedroom apartments--would remain under the Mitchell-Lama affordable housing program. [more]
Omni New York, a developer and landlord that specializes in revitalizing affordable housing units, has paid more than $137 million for a massive residential complex in the Bronx. The property is located at 16 Richman Plaza in the borough’s Morris Heights section and is composed of 1,654 below-market-rate rentals. Omni plans substantial revitalization, but emphasized that the units—which range from studios to 4-bedroom apartments--would remain under the Mitchell-Lama affordable housing program. [more]