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lesson in building and protecting homes
October 12, 2021

A lesson in building and protecting affordable homes

Jonathan Rose Companies is one of the biggest developers of affordable housing in the United States. Since 1989, the for-profit New York developer has delivered more than 100 affordable and mixed-income communities, such as the new 709-unit Sendero Verde in East Harlem, a mixed-income housing project that will house people from all income levels, including those who were formerly homeless to those with middle-range incomes. It’s the country’s largest Passive House development and includes on-site social services and a 20,000 square-foot courtyard.

Another notable project is Via Verde in the South Bronx, a nearly 10-year-old, multi-award winning, 222-unit building that is mostly low-income rental and 71 middle-income co-ops, and includes a medical clinic and community garden on its 1½-acre site. The pioneering developer has made it his mission to build housing for all segments, not just the lucky few.

“And by the way, just to give you some perspective, a family could buy a two-bedroom duplex apartment, with washer and dryer, two bathrooms, really nice apartment, for $159,000 [U.S.] with a total cost between the mortgage, taxes and everything else, of $1,500 a month under the co-op program, and then own an apartment, which is worth a whole lot more now,” founder and president Jonathan Rose said in an interview last week.

Mr. Rose, who was born in 1952, started out working for a large, successful family development firm founded by his grandfather and great uncle in 1926. But inspired by the civil rights movement, he decided that he wanted to build housing that was green and truly affordable. He also wanted to grow his business nationally, and form partnerships with cities and not-for-profits. The Washington-based Urban Land Institute recently recognized Mr. Rose with the ULI Prize for Visionaries in Urban Development.

Keep reading in The Globe and Mail


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