Excavation is under way to bring 52 units of affordable housing to Bedford Park by mid-2018, continuing the trend of more neighborhood development.

Ground broke on the complex at 16 E. 204th St., at the corner of Villa Avenue, just east of Jerome Avenue, earlier this year.

Galaxy General Contracting Corp., which develops properties throughout the five boroughs, is planning to call the mixed-income rental building “Villa Gardens.”

As standard practice, those hoping for an apartment will need to enter a lottery through the New York City Department of Housing Preservation and Development. Richard Sica, Galaxy’s vice president, said the city usually starts advertising the lottery about nine months before the apartments are estimated to be completed. Per HPD rules, Sica noted that 50 percent of the residences will be allotted for residents in Community Board 7, which covers Norwood, Bedford Park, Kingsbridge Heights, Fordham, and University Heights.

Eligibity

Eligibility is determined based on percentages of the Area Median Income (AMI), which is $90,600 for a family of four, $81,600 for a family of three, $72,500 for a family of two and $63,500 for an individual, according to 2016 numbers. Of the 52 units, 25 percent of the apartments will go to families that earn 60 percent of the AMI, or $54,360 for a family of four; 27 percent of the apartments will go to families making 80 percent of the AMI, and the remaining apartments will go to individuals or families earning 90 percent of the AMI.

“We like Bedford Park, it’s a strong neighborhood with … transportation accessibility,” Sica said of the developer’s decision to build in the area, adding that his company was impressed with the “good tenant mix” when they opened 170 E. Mosholu Pkwy. a few years back.

Community Board 7’s chair Adaline Walker-Santiago did not return multiple requests for comment on the project.

City records show the property was purchased for $783,000 in 2013.

There is a large blue Chase Bank sign at the construction site, and a bank representative told Norwood News that the development is being financed through an affordable housing loan.

“Our Community Development Banking arm supports affordable housing and economic development projects in low- and moderate-income communities, specializing in multi-family rental housing, commercial real estate and home ownership,” Erich Timmerman, a spokesperson with Chase, said.