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The 30-story Keith Plaza contains 311 affordable apartments. The 30-story Keith Plaza contains 311 affordable apartments.

NEW YORK CITY—A partnership of the Hudson Valley Property Group and Phoenix Realty Group has acquired two Mitchell-Lama workforce housing developments in the Belmont section of the Bronx and plans to undertake extensive renovations on both properties.

New York City based Hudson Valley Property Group and Phoenix Realty Group acquired the 311-unit, 30-story Keith Plaza at 2475 Southern Blvd., and the 301-unit, 17-story Kelly Towers complex at 2375 and 2405 Southern Blvd. The renovations at the two properties will total more than $14 million and will include significant energy efficiency enhancements, specifically better heating systems, the replacement of all lighting, repairs to the buildings, as well as upgrades to the lobbies, common areas, and apartments.

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