Jorge Madruga’s Maddd Equities filed an application for the rezoning of 1014 Brook Avenue in the borough’s Morrisania neighborhood, Crain’s reported. The South Bronx rezoning would pave the way for the development of two buildings, delivering more than 1,000 affordable housing units to the community.
The project would span 1.2 million square feet, including a 26-story and 22-story building. There would be 1,128 affordable units, all of which would be affordable. There would also be 167,000 square feet of commercial space — split between retail and a sports complex for local schools — and 1,000 square feet for light manufacturing; the manufacturing space would likely be for something akin to a distillery or a woodworking shop.
The site is zoned for manufacturing use. Maddd is looking for it to be rezoned to allow for manufacturing and residential use.
Besides needing a rezoning, another challenge Madruga is facing is ownership. The 159,000-square-foot development site encompasses 19 tax lots, but Maddd only owns ten of them, meaning it will either have to acquire the others or work collaboratively with the owners of the properties, many of which are low-rise warehouses.
Maddd is looking to break ground on the project in 2027 and complete it within five years.
The firm has been all over the Bronx recently. Just last week, Maddd acquired the landmarked Bronx General Post Office from Youngwoo & Associates for $44 million. Maddd’s plans are unclear for the site, which is zoned for commercial and residential use, creating redevelopment options such as a medical building, school, hotel or apartments.
In April, Madruga and Mark Stagg acquired a site at 2740 Webster Avenue from its long-time owner for $40 million with plans to build a massive dormitory and housing complex. The 800,000-square-foot development will include more than 500 dormitory units and 485 units of affordable housing.
Earlier this year, the city’s Economic Development Corporation selected Maddd and Eli Weiss’ Joy Construction — frequent partners — to develop the 570,000-square-foot Kingsbridge Armory site into a 13,000-seat event venue with community space, a recreation center, an educational facility and culture and commercial spaces.
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Bronx Post Office sells for nearly $30M less than owners hoped
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City identifies developers for Kingsbridge Armory in the Bronx
