Azimuth Development Group has constructed a wide array of complex projects, many utilizing various City and State programs throughout the five Boroughs. Azimuth’s experience in both the market rate and affordable housing communities position the company as a versatile organization within the industry.
Total Development Cost: $110,000,000
Completion: Spring 2020
Architect: Aufgang Architects
Lender: Wells Fargo
Equity: Wells Fargo
Concourse Village West Apartments is a large scale development just south of 161st Street in the South Bronx. Upon completion, the complex will consist of three buildings and a total of 275 units ranging from 30%-100% of Area Median Income (Ami). The buildings will include ground floor retail and community facility, as well as on site parking. Concourse Village West Apartments was a result of a site specific re-zoning, and will be one of the rare new developments to rise near the Grand Concourse historic district. Construction will commence in 2017.
Construction Start Date: 2018
Architect: Aufgang Architects
1755 Watson Avenue is a planned mixed income development located in the Soundview section of the Bronx. Recently rezoned from R5 to R7A, 1755 Watson Avenue will consist of 326 units of mixed income housing, ground floor retail and community facility space, and on-site parking. Construction is expected to commence in 2018..
Total Development Cost: $140,000,000
Construction start Date: December 2019
Architect: Aufgang Architects
Bruckner Apartments, located at 2069 Bruckner Boulevard in the Soundview section of the Bronx, is a mixed income development consisting of two buildings. The 330 unit project will include mixed income rentals and 65 homeownership units as one of the first projects in New York City to be financed under HPD’s “Open Door” program. The property underwent a rezoning that was completed in early 2019.
Total Development Cost: $20,000,000
Completed: July 2017
Architect: Aufgang Architects + Subotovsky AIA
Lender: JPM Chase
Equity: Raymond James Tax Credit Funds
The Bedford is an 80,000 square foot mixed income building, located in the Norwood section of the Bronx located at 3160 Webster Avenue. The building includes 60 units of mixed income housing for families that meet the 30% to 80% Area Median Income requirements, as well as 10,000 square feet of ground floor retail. The Bedford is part of The New York City Department of City Planning’s recently completed Webster Avenue Re-zoning..
Total Development Cost: $24,000,000
Completed: September 2017
Architect: Aufgang Architects
Lender: TD Bank
Equity: Riveroak 1 NYC LLC
321 East 60th Street is a 25,000 square foot, 21 unit residential building located on East 60th Street, between First and Second Avenue in Manhattan. Constructed inside the bend of the Queensborough bridge, on a highly irregular lot, 321 East 60th Street exemplifies Azimuth’s ability to overcome physical hardships developers typically stay away from. Developed under the NYC Inclusionary Housing Program, the project will be 100% affordable, and home to families that qualify for the 80% of Area Median Income or less. As a result of securing permanent affordable rents for residents of Community Board 8, Azimuth generated over 80,000 square feet of air rights to be sold within the community board or a half mile radius of 321 East 60th Street..
Total Development Cost: $13,500,000
Completed: In Progress, TCO Fall 2017
Architect: Aufgang Architects
Lender: Credit Suisse
Equity: Self-funded
231 West 26th Street is a 13,000 square foot luxury-boutique condominium project, located in Chelsea, between 7th and 8th Avenues. Upon completion, the building will consist of seven floor-through units. The oversized units average over 1,400 square feet each, and feature private elevator access into the apartments, virtual doorman, and access to private outdoor space.
Total Development Cost: $6,500,000
Completed: In Progress, TCO Fall 2017
Architect: Aufgang Architects
Lender: RAZA Development Fund
Equity: Self-funded
Hudson Vistas is a 25 unit residential building located in the Village of Ossining, in Westchester County. The 29,000 square foot property sits perched upon a cliff with expansive Hudson River Views, with amenities which include a gym, a study, a playroom, outdoor fire pit area and parking. The development will be targeting individuals, age 55 and older, earning 60% or less of the Westchester County Area Median Income. As a result of delivering three permanent affordable units, to be rented by tenants age 55 and over that earn 60% of the Area Median Income, Azimuth was awarded a zoning bonus that allowed them to maximize the residential capability of the site for future tenancy..
Total Development Cost: $36,000,000
Construction Start Date: June 2015
Completion Date: Fall 2018
Architect: Aufgang Architects
99 Morningside is a 57,000 square foot development located on the corner of West 123rd Street and Morningside Avenue. Assembling the original St Luke’s Baptist Church sites with adjoining neighbors and additional air rights, Azimuth will be delivering a brand new Church to St Luke’s Baptist, and a luxury condominium which will consist of 23 luxury units, ranging in size from 1-4 Bedrooms and 560-2300 square feet. The apartments will feature top of the line appliances and finishes, a gym, an attended lobby, a playroom, easy access to Morningside Park, and a short walk from Central Park. Some of the apartments will have private outdoor spaces overlooking Morningside park, while others will have expansive views of Morningside Park, St John the Divine, Columbia University and panoramic views of Manhattan. The building is expected to be completed by Fall of 2018..
Total Development Cost: $27,500,000
Completion: Winter 2018
Architect: Kossar + Garry Architects
Lender: TD Bank
Equity: RiverOak NYC
316 East 91st Street is a 31,718 square foot project under construction on the Upper East Side. The project, once complete, will be home to ‘Women in Need’, a supportive housing program which helps homeless women and their children rebuild their lives, and Sunshine Day Care Center, an early childhood educational and development center. As a result of permanently keeping the building home to Supportive Housing, Azimuth generated over 80,000 square feet of air rights to be sold in Community Board 8 or a half mile radius of 316 East 91st Street..
Total Development Cost: $32,500,000
Completed: December 2014
Architect: Aufgang Architects
Lenders: HDC & JPM Chase
Equity: Raymond James Tax Credit Funds
250 East 144th Street is building A of Morris Court, a large scale development in the South Bronx. The 125,000 square foot building consists of 100 units of mixed income housing, paired with ground floor retail and underground parking. The development is one of the first to come to fruition as a result of the Lower Concourse re-zoning, which was completed by the Department of City Planning in 2010.
Total Development Cost: $37,500,000
Completed: December 2014
Architect: Aufgang Architects
Lenders: HDC & JPM Chase
Equity: Raymond James Tax Credit Funds
253 East 142nd Street is building B of Morris Court. The 130,000 square foot building consists of 101 units of mixed income housing with a ground floor Day Care center and underground parking. Financing was provided by the New York City Housing Development Corporation.
Total Development Cost: $11,300,000
Completed: January 2013
Architect: Aufgang Architects + Subotovsky AIA
Lender: JPM Chase
Equity: Raymond James Tax Credit Funds
Intervale Independent Seniors is a 40,000 square foot, 48 unit, 55 and older development located in the Hunts Point Section of the Bronx. Located at 1115 Intervale Avenue, the building is home to low and very low income senior residents. This Project, one of the first of its kind in the Bronx, was built with assistance from the New York City Housing Development Corporation as well as the New York City Department of Housing Preservation and Development.
