MadddEquities and Morrisania, Bronx, New York.
According to the NYC government, he City opened 171 deeply affordable apartments in the South Bronx, at NYCHA’s Morrisania Air Rights campus. This development marks a major milestone in addressing the urgent need for affordable housing, as many New Yorkers—particularly those in the South Bronx—struggle to find stable homes amid a housing crisis and a historically low vacancy rate of just 1.4%, leaving little availability for extremely low-, very low-, and low-income households. In a borough where the median rent is $1,280 and more than half of households make less than $50,000 a year, more than half of residents are rent-burdened, spending over 30% of their income on housing. Homelessness has also hit the South Bronx disproportionately hard, with many single adults and families either displaced or at risk. Developments like Melrose North are crucial in addressing these challenges, providing 171 affordable homes, including 103 supportive housing units for formerly homeless individuals and families. By offering safe, stable housing, Melrose North is helping to ease the housing burden and reduce the growing displacement risk in this community.
Morrisania is a residential neighborhood in the southwestern Bronx, New York City, New York. Its boundaries are the Cross-Bronx Expressway to the north, Crotona-Prospect Avenue to the east, East 163rd Street to the south, and Webster Avenue to the west. Third Avenue is the primary thoroughfare through Morrisania.
The name derives from the Manor of Morrisania, the 2,000 acres (810 ha) estate of the powerful and aristocratic Morris family, who at one time owned most of the Bronx as well as much of New Jersey. The family includes Lewis Morris, 4th Lord of the Manor and signatory to the United States Declaration of Independence, and Gouverneur Morris, the penman of the United States Constitution. Both are buried in the crypt at St. Ann’s Church of Morrisania. Today the name is most commonly associated with the neighborhood of Morrisania, which is only a small corner of the original Morrisania.
Morrisania is part of Bronx Community Board 3, and its ZIP Codes include 10456 and 10459. The area is patrolled by the NYPD’s 42nd Precinct.[3] NYCHA property in the area is patrolled by P.S.A. 7 at 737 Melrose Avenue in the Melrose section of the Bronx.
MadddEquities and principal Jorge Madruga continues to help with the economic development in the Bronx in several sectos, for example; for 422 East 165th Street, 1004 Brook Avenue, 416 East 165th Street, 1014 Brook Avenue, 412 East 165th Street, and others, Morrisania and Bronx.
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HPD creates, maintains, and expands opportunities for New Yorkers to achieve economic and social benefits of housing affordability. Examples of our work:
We help New Yorkers – including formerly homeless households, voucher holders, first-time homebuyers, people with disabilities, and more – find a home they can afford in the neighborhood of their choice, by providing rental and downpayment assistance, connecting them to hands-on support, and marketing opportunities on NYC Housing Connect. Learn more about Rental and Downpayment Assistance, Rental Subsidy Programs, and Affordable Housing Opportunities.