Stevenson Square has completed its first phase in Soundview, the Bronx, adding 58 affordable cooperative homes and 117 apartments for older residents. State housing officials report an average co-op sales price of approximately $204,000. The development combines income-restricted homeownership, senior rental housing, and additional residential construction planned for the existing Stevenson Commons campus.
Key Takeaways
- New York State announced the completion of Stevenson Square Phase I on October 14, 2026, confirming 175 homes across three new residential buildings.
- The $53 million homeownership component contains 58 cooperative apartments with an average sales price of approximately $204,000.
- Cooperative homes are designated for eligible households earning up to 80% of Area Median Income.
- The completed phase also includes 117 affordable rental apartments intended for residents aged 62 and older.
- Additional affordable housing and community facilities are planned as part of the larger Stevenson Commons redevelopment.
Stevenson Square reached a construction milestone on October 14, 2026, when New York State Homes and Community Renewal announced the completion of its first phase in the Soundview section of the Bronx.
The development includes two four-story cooperative buildings and a separate six-story residence for older adults. Together, the buildings provide 175 homes within a residential campus undergoing a broader redevelopment.
The average cooperative sales price of approximately $204,000 is a central detail of the state’s announcement. However, that figure applies only to the homeownership component and doesn’t represent a fixed purchase price for every apartment.
The $53 million reported development cost also applies specifically to the cooperative buildings. The larger Stevenson Square project has been described as a multistage redevelopment valued at approximately $1 billion.
Stevenson Square Co-ops Average $204,000 Across 58 Homes
Stevenson Square’s homeownership component consists of two newly constructed buildings at 1843 and 1847 Seward Avenue. The buildings contain apartments ranging from one to three bedrooms.
According to the New York City Department of Housing Preservation and Development, the cooperative homes include 11 one-bedroom apartments, 31 two-bedroom apartments, and 16 three-bedroom apartments.
Two-bedroom apartments represent the largest share of the development, accounting for 31 of the 58 homes. The remaining units provide options for households with different space requirements, subject to the applicable eligibility rules.
New York State reported an average sales price of approximately $204,000 for the completed cooperative development. Individual prices can differ depending on apartment size and the conditions established under the affordable homeownership program.
A cooperative apartment also differs from a conventional condominium. Purchasers generally acquire shares in a corporation that owns the building, together with occupancy rights associated with a particular apartment.
Monthly ownership costs can include mortgage payments, cooperative maintenance charges, utilities, and other expenses. The average purchase price therefore doesn’t represent the full monthly cost associated with an individual residence.
The apartment buildings include in-unit washers and dryers, dishwashers, bicycle storage, and landscaped front and rear yards. These features were identified in the city’s original development specifications.
The completed buildings are also part of an all-electric first phase that has achieved Enterprise Green Communities certification, according to the state’s October announcement. The project includes energy-efficient heating and cooling equipment and a solar array.
Camber Property Group developed the cooperative homes in partnership with Habitat for Humanity New York City and Westchester County. The nonprofit’s role includes homebuyer education and assistance associated with the ownership program.
The completion announcement confirms the construction milestone but doesn’t establish how many cooperative apartments remain available for purchase.
Income Limits Shape Eligibility for Stevenson Square Buyers
Stevenson Square’s cooperative apartments are income-restricted, with eligibility tied to Area Median Income, commonly called AMI.
New York State’s October 14 announcement identifies households earning up to 80% of AMI as the intended buyers. Earlier city project documents described income categories ranging from 70% to 80% of AMI across the apartment types.
The distinction matters because eligibility is determined through the requirements established for each affordable housing opportunity. Household size, income, and other program conditions can affect whether an applicant qualifies.
Area Median Income is used by New York City’s affordable housing programs to establish income thresholds. The applicable dollar amounts can vary by household size and the year in which the eligibility guidelines are issued.
Prospective buyers also need to distinguish income qualification from the financial requirements associated with purchasing a cooperative apartment. Meeting an income threshold doesn’t automatically establish mortgage eligibility or confirm that a household can cover the necessary ownership expenses.
The cooperative development was previously marketed through New York City’s affordable housing application system, with published materials describing apartment prices, household eligibility, and the selection process.
However, the October 2026 completion announcement didn’t identify a new application window. Earlier sales information shouldn’t be treated as confirmation that applications are currently open.
The distinction between construction completion and housing availability is particularly important for income-restricted developments. A completed building may already have applicants undergoing eligibility review, selected purchasers, or residents preparing for occupancy.
Habitat for Humanity New York City and Westchester County has been involved in the homeownership component through its partnership with Camber Property Group. The developer identifies education and assistance for homebuyers as part of that arrangement.
The cooperative buildings are financed through programs intended to support affordable ownership opportunities. Their eligibility requirements remain separate from the rental conditions established for the senior housing component.
117 Senior Apartments Expand the Completed Bronx Development
The first phase of Stevenson Square also includes a six-story residential building containing 117 affordable apartments for older adults.
New York State identified residents aged 62 and older as the intended population in its October 2026 announcement. The senior apartments form a separate rental component within the completed development.
The city’s original construction documents described the residence as serving households earning at or below 50% of Area Median Income. Those plans also designated 36 apartments for formerly homeless older adults.
The senior building was designed to include shared spaces and services suited to its intended residents. The city’s March 2024 announcement identified a community room, fitness area, laundry facilities, bicycle storage, and a fifth-floor outdoor terrace among the planned amenities.
The development team also partnered with Regional Aid for Interim Needs, known as R.A.I.N., a Bronx-based organization providing services to older adults.
Under the original service plan, R.A.I.N. was expected to assist residents through counseling, referrals, advocacy, assessments, and organized recreational and educational activities.
The senior rental apartments differ from the cooperative homes in both their occupancy arrangements and eligibility criteria. Residents of the senior building rent their apartments, while qualifying cooperative purchasers obtain ownership shares associated with their homes.
Other affordable housing developments in the Bronx include the 96-unit Casanova Residence in Hunts Point, which began construction in August 2026 with a separate supportive and affordable rental housing model.
While the Casanova Residence remains a project under development, Stevenson Square’s October announcement confirms completion of its first residential phase.
The Soundview development also benefits from services already present within Stevenson Commons. According to state housing officials, existing facilities include a supermarket and the Stevenson Family Health Center.
The health center offers primary care, dental care, behavioral health services, pharmacy services, and additional community support.
Nearby transportation and recreation options include Soundview Park, Pugsley Creek Park, subway connections, and the NYC Ferry. These neighborhood facilities are distinct from the additional recreational spaces planned within the larger redevelopment.
Stevenson Square’s $1 Billion Redevelopment Extends Beyond Phase I
Stevenson Square forms part of a larger plan to redevelop underutilized sections of Stevenson Commons, an established residential property in Soundview.
The original complex was developed through New York’s Mitchell-Lama housing program during the 1970s. It contains 948 residential apartments, according to New York State Homes and Community Renewal.
Camber Property Group acquired the property in 2017 and subsequently prepared a redevelopment plan incorporating additional housing and community facilities.
Rather than replacing the entire existing residential complex, the first phase introduced three new buildings along Seward Avenue. The development added cooperative homeownership opportunities and rental housing for older adults to the established campus.
Camber Property Group Principal Rick Gropper characterized the completed phase as “the beginning of a multi-phase $1 billion transformation of this site” in the state’s October 14 announcement.
The full redevelopment plan includes additional affordable rental apartments, new recreational areas, pedestrian connections, and community facilities.
Earlier city project descriptions identified approximately 30,000 square feet of planned community facility space, along with tennis courts, a walking path, a sensory playground, and landscaped outdoor areas.
Those features belong to the broader campus plan and shouldn’t be confused with amenities already completed as part of Phase I.
The distinction between planned development and finished construction also appears across New York City’s affordable housing project pipeline, which includes projects on city-owned parcels at different stages of development.
Stevenson Square’s completed phase represents a separate project on the existing Stevenson Commons campus, with subsequent housing phases still planned.
The cooperative buildings received financing from multiple public and private sources. New York State Homes and Community Renewal provided $11.6 million through its Affordable Homeownership Opportunity Program.
The New York City Department of Housing Preservation and Development contributed approximately $21.2 million through its Open Door program. Another $3.8 million came through Resolution A capital funding, according to the state announcement.
These amounts relate to the homeownership portion of the completed phase. The senior rental component has a separate financing structure, and neither figure should be treated as the total cost of the broader redevelopment.
State officials also confirmed that the completed first phase uses all-electric building systems. Sustainability measures include solar equipment and energy-efficient appliances, heating, and cooling systems.
The development’s plans identify additional affordable rental buildings in future phases, but the October 14 announcement doesn’t establish that all of those buildings or associated community facilities have been completed.
For Stevenson Square, the confirmed milestone remains the delivery of 58 affordable cooperative homes and the inclusion of 117 senior rental apartments in the first phase. The larger redevelopment continues to involve additional planned residential and community construction.
Frequently Asked Questions
How many affordable homes are included in Stevenson Square Phase I?
Stevenson Square Phase I includes 175 homes across three newly constructed buildings in Soundview, the Bronx. The development consists of 58 cooperative homes and 117 affordable rental apartments for older adults.
What is the average price of a Stevenson Square co-op?
New York State Homes and Community Renewal reported an average cooperative sales price of approximately $204,000 in October 2026. Individual apartment prices may vary, and the average doesn’t include all ongoing ownership expenses.
Who is eligible for the cooperative apartments?
The cooperative homes are designated for qualifying households earning up to 80% of Area Median Income. Specific eligibility depends on applicable household-size, income, and homeownership requirements.
Are Stevenson Square apartments currently accepting applications?
The October 14, 2026 completion announcement didn’t provide a new application deadline or confirm current vacancies. The cooperative apartments were marketed previously, so earlier application information doesn’t establish present availability.
Is the entire Stevenson Square redevelopment finished?
The October announcement concerns the completed first phase, including the cooperative and senior residential buildings. Additional affordable rental housing and community facilities remain part of the broader redevelopment plan.
