Stagg Group Breaks Ground on 72-Unit Rental at 5959 Broadway in Riverdale

The mixed-use development under construction at 5959 Broadway in the Bronx will bring 72 apartments to the market. While most are expected to be market rate, some may be dedicated to affordable housing.

Monday, Jul 11, 2016 By CityRealty Staff, CityRealty contributor

Construction has officially begun on Stagg Group’s Riverdale project at 5959 Broadway in the Bronx. In development is a six-story, mixed-use building that will include 72 residential units, and two levels of underground parking. More than 13,000 square feet will be dedicated to commercial space, and more than 14,00 square feet will house a community facility, such as a charter school or medical clinic.

Apartments at 5959 Broadway will be a mix of studio, one-, and two-bedroom homes. The building's developers are targeting students, Manhattan commuters, and lower income renters. Early rumors that a homeless shelter would the building had concerned local community members, but the developers have stated that all units will be market-rate, with perhaps some units set aside for affordable housing. The project is being designed by Badaly & Badaly Architects.

While 5959 Broadway is slated for completion in 2017, Stagg Group recently completed another Riverdale project. The Park, at 6155 Broadway, is also a seven-story, mixed-use rental building with commercial and community space. With the community in mind, developers have indicated that both projects are being developed for the neighborhood's working families.

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Stagg Group Breaks Ground on 72-Unit Rental at 5959 Broadway in Riverdale

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