Local elected officials joined Lehman College and MADDD Equities on Wednesday, Aug. 5, for a ribbon-cutting ceremony to mark the opening of The Lehman Grand, the first student dormitory for Bedford Park’s Lehman College students.

Opening ahead of the fall 2026 semester, representatives for the College said the new dorm adds much-needed campus housing with apartment-style living for more than 180 students. Developed by MADDD Equities, the dorm is in the newly renovated, landmarked Dollar Savings Bank building, located on the Grand Concourse at Fordham Road.

Those behind the development said, “The Lehman Grand offers a modern, fully accessible, student-centered living experience, with more than 180 beds for students and sweeping views of The Bronx and Manhattan.” They said amenities include 58 furnished rooms with private bathrooms and free WiFi, two stand alone apartments, ,24-hour security, a shared kitchen, a free campus shuttle, a study and game rooms, and on-site laundry (a fee applies).

They added that student discounts are also available at Fine Fare supermarket, also located in the building, on the ground floor. In addition to the shuttle, Lehman representatives said students can also use Citibike to travel to and from the main campus, which is less than a mile away. There is also public transit access nearby via the B, D and 4 subway lines, and they said Lehman College offers monthly overnight parking for dorm residents.

For his part, Félix V. Matos Rodríguez, chancellor of The City University of New York (CUNY) of which Lehman College is part, said, “The opening of Lehman College’s first residence hall is a milestone for The Bronx and the University. As our seventh residential campus, this modern housing facility reflects CUNY’s commitment to adapting to the evolving needs of today’s New York City students.”

He continued, “By offering safe, vibrant living spaces near campus, we are breaking down barriers to higher education, fostering a deeper sense of community, and ensuring our students have every resource they need to thrive both academically and personally. We are deeply grateful to MADDD Equities for their exceptional work restoring this space and for their continued dedication to investing in the future of CUNY and our city.”

According to those with knowledge of the latest dormitory development, the historic Dollar Savings Bank is an Art Deco Bronx landmark constructed in 1932–1933, and expanded in the early 1950s with the addition of a 10-story office block and its signature 50-foot clock tower. Designed by architect Adolf L. Muller of Halsey, McCormack and Helmer, officials said the building was designated a New York City landmark in 1994 for its visual presence on the Grand Concourse and its character-defining features, including four clock faces, pink granite, red brick, terra cotta detailing and the iconic Liberty Head medallions.

They said as part of The Lehman Grand project, MADDD Equities undertook a careful restoration to preserve the building’s architectural significance. They added that these efforts ensured that the building’s most recognizable features were protected while adapting the tower to serve as Lehman College’s first student residence.

MADDD Equities representatives said they are also leading two other notable landmark rehabilitation projects elsewhere in the borough, the Kingsbridge Armory, as reported, and the Bronx General Post Office.

They said that in a joint venture with Joy Construction (8th Regiment Partners), and as reported, MADDD Equities is redeveloping the long-vacant Armory into a mixed-use hub with an entertainment venue, recreational space, cultural and commercial space, light industrial manufacturing and over 25,000 square feet of dedicated community space.

They said the project will also include around 500 permanently affordable rental apartments adjacent to the site. They said MADDD Equities is also transforming the Bronx General Post Office into a health and science education center for Hostos Community College, and that the landmarked building will be renovated to house programs for nursing, radiology, and engineering students.

Lehman College officials said the college serves as an intellectual, economic, and cultural center for The Bronx, New York City, and beyond. They said the college, which sits on a tree-lined, 37-acre campus, supports more than 13,000 undergraduate and graduate students, another 14,000 students in continuing and professional programs, and over 90,000 alumni.

As a federally designated, Hispanic-serving institution in The Bronx, they said Lehman College educates a diverse population of students, offering bachelor’s, master’s, and doctoral degrees as well as certificate programs in the liberal arts, sciences, and professions.

According to MADDD Equities, the company is a real estate development firm with expertise in a broad range of real estate disciplines, including investment, development, construction and asset management.

Officials for the firm said it acquires, owns, develops and operates properties across many asset classes, including workforce housing, luxury high-rise buildings, hotels, and commercial developments. “MADDD Equities is a leader in affordable housing in the five boroughs, building quality workforce housing for low and middle-income New Yorkers,” an official said.