Ward Capital Management

Ward seeks approval for new condominium in the Bronx

Bronx News12

06/28/2017

VAN NEST -Neighbors of an abandoned lot in Van Nest have mixed feelings about turning it into a luxury condominium complex.

The units could sell for hundreds of thousands of dollars.

Some residents say the project could be a boon for businesses and jobs in the neighborhood. Others say it will lead to traffic and parking problems.

Joseph McManus, a member of Community Board 11, says the developer Ward Capital Management LLC bought the plot from 500 to 508 Van Nest Ave. last year.

The developer initially proposed building an eight-story, 50-unit complex, but the zoning did not allow for that, McManus says. The revised project would have 47 units and more parking spaces.

The developer is now looking to build support in the community as it seeks to have the space rezoned, according to McManus, who says the revised proposal doesn't go far enough in addressing his concerns about traffic and parking.

"If they could double the parking, and maybe have less apartments, I think that that's the way," he says.

CB11's land use committee is expected to vote on the proposal next week, but the