Bronx Borough President Vanessa Gibson turned a quiet Bedford Park block into a full-on celebration this week, cutting the ribbon on two new residential towers that bring 166 apartments to East 198th Street. The 11-story buildings at 19 and 21 East 198th Street include 34 homes reserved for households earning up to 80% of the area median income. Neighbors wandered over for food, a DJ set and to ask the question everyone really cares about: how to get an application.
The project, developed by AG Holdings, is the latest rental housing to land in the northwest Bronx. Certificates of occupancy are expected this month, and once those are issued the units are slated to appear on the city's Housing Connect portal. The company's chief financial officer told reporters she expects many incoming tenants to use CityFHEPS or other rental assistance programs when leasing starts. As reported by the Bronx Times, company brass, local workers and nearby residents all turned out to mark the opening.
Developer and local footprint
AG Holdings Group lists the East 198th Street complex among its projects and describes itself as a vertically integrated developer that handles acquisition, construction and property management under one roof. Public records and development filings tied to the Bedford Park addresses show the buildings moving from financing to completion on a relatively brisk timeline.
The company is not done in the region either. It has additional projects in the Bronx and Westchester in its pipeline, according to PincusCo.
What 80% AMI means here
The city's area median income (AMI) chart for 2026 puts 100% AMI for a three-person household at $152,700. That means the 80% AMI ceiling used for the Bedford Park set-aside is about $122,160, which is the income cap cited for these apartments. City agencies such as HPD use those income bands to decide who qualifies for affordable lotteries and to set maximum rents. For the full breakdown, the NYC Department of Housing Preservation and Development's AMI guidance remains the official reference.
How to apply and who this could help
Once certificates of occupancy are in place, the Bedford Park units are expected to go live on NYC Housing Connect, the city-run portal where eligible renters enter lotteries for new affordable housing. Prospective tenants who plan to use vouchers or city rental subsidies, including CityFHEPS for households facing homelessness or eviction, are urged to double-check program rules and payment standards before applying. Official guidance is available through NYC Housing Connect and from HRA.
The Bedford Park opening adds to a steady trickle of new affordable units across the Bronx. Housing advocates point out that simply adding apartments is not enough on its own, and that voucher acceptance, the speed of lottery and lease-up, and outreach to nearby residents will ultimately determine who lands these keys. For AG Holdings, the East 198th Street towers mark a milestone as the firm grows its footprint in the borough and beyond.
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