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Bronx, real estate trends

Via Nelson Mejia Jr. on Flickr

Out of the 20 New York City neighborhoods with the most residential units approved within the past year, seven of them are in the Bronx, more than any other borough. According to a new report from Localize.city, a group that analyzes data related to housing, 13 percent of all approved apartments between 2010 and 2015 were in the Bronx. In the first half of 2018, the Bronx had 27 percent of the city’s share of approved new units. While a majority of new buildings in the borough are affordable, increasing land prices could mean more market-rate projects are on the horizon, the New York Times reported.

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affordable housing, Bronx, housing lotteries, mott haven

Rendering of 764 East 152nd Street via UA Builders Group

We’ve seen it all over Manhattan and Brooklyn–brokers come up with bizarre acronyms and new directional cues to hip-ify (aka gentrify) a neighborhood. Most recently, they tried their hand at SoHa–South Harlem, which certainly didn’t stick. And now the trend has spread to the Bronx, though this time it’s the NYC Department of Housing Preservation and Development behind the new moniker. In their defense, “Mott Haven North,” was probably chosen for the latest affordable housing lottery based on their 1994 Mott Haven North Urban Renewal plan, but with this South Bronx neighborhood rapidly gentrifying, it’s a slippery slope. Regardless, there are eight $1,379/month one-bedrooms up for grabs at 764 East 152nd Street, which, according to maps, is in the Woodstock area.

More info ahead

affordable housing, Bronx, Major Developments

A previous rendering of 101 Lincoln Avenue via Hill West Architects

The most expensive transaction on record for a development in the Bronx officially closed Wednesday, after Brookfield Property Partners picked up the two sites for $165 million from Somerset Partners and Chetrit Group. Originally, Somerset and Chetrit planned for all of the development’s 849 residential units to be market rate, and while Brookfield intends to keep the same number of apartments, they are designating 30 percent of them affordable, according to the Real Deal.

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affordable housing, Bronx, housing lotteries

Via Wiki Commons

The second housing lottery to open today in the South Bronx’s Longwood section is at Thessalonia Manor, a two-building affordable project adjacent to the Thessalonia Baptist Church. The 120-unit development, from Urban Builders Collaborative and CMC Development, was announced two years ago, and now households earning 60 percent of the area median income can apply for 83 of the units, ranging from $929/month one-bedrooms to $1,289/month three-bedrooms. Like the earlier lottery, the buildings at 960 Prospect Avenue and 961 Reverend James A. Polite Avenue are right near the family-friendly Bill Rainey Park and the 2 and 5 trains at Intervale Avenue. The buildings offer on-site laundry, a community room, courtyard, and roof top terrace.

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affordable housing, Bronx, housing lotteries

915 Dawson Street, Propco Holdings, Longwood Bronx

A recently completed 29-unit rental at 915 Dawson Street in the Longwood section of the South Bronx has opened up an affordable housing lottery for nine middle-income units reserved for households earning 130 percent of the area median income. The 1,404/month one-bedrooms and $1,575/month two-bedrooms not only offer the chance to live in a lovely new building, complete with a recreation room, laundry room, and parking, but the location just off Bill Rainey Park is the perfect enclave for families. The park has a baseball field, football field, and playground, and just a few blocks away are the 2, 5 trains at Intervale Avenue and the 6 at Hunts Point Avenue. Plus, the New York Public Library’s Hunts Point branch is close, as are a myriad of schools, including Longwood Preparatory Academy, Success Academy Middle School, PS 333 The Museum School, PS 39, and PS 130.

See the income breakdown

Bronx, Transportation

Via NYC Ferry

A new ferry route connecting the South Bronx and Wall Street launched on Wednesday, the first-ever ferry service between the two boroughs in the 21st century. The new route starts at Clason Point Park in Soundview and makes stops at East 90th Street, East 34th Street and ends at Wall Street’s Pier 11. The entire trip takes about 45 minutes. “The new Soundview ferry will cut commute times in half for thousands of Bronxites,” Mayor Bill de Blasio said in a statement. “Our all-of-the-above approach to transit gives New Yorkers reliable options to get where they need to go.”

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Bronx, Policy, Transportation

Photo via Wikimedia

It’s no surprise the Bronx ranks as the fastest-growing county in New York. In the last year alone, plans announced for the South Bronx have included the city’s first soccer stadium, a 1,300-unit residential project on the waterfront, a development with Hip-Hop museum and food hall and a $10M revitalization investment from Gov. Andrew Cuomo. Furthering the area’s development boom, a study officially launched last week to look at the expansion of Metro-North service East and South Bronx communities, including Hunts Point, Parkschester/Van Nest, Morris Park and Co-op City.

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Bronx, Construction Update, Starchitecture

Bjarke Ingels, BIG architecture, NYPD 40th Precinct, NYPD architecture, South Bronx development

Image via BIG

Mayor Bill de Blasio announced on Tuesday that construction has officially begun on the new police station coming to the 40th Precinct in the South Bronx. The Bjarke Ingels-designed station house, located in Melrose at East 149th Street and St. Anne’s Avenue, will boast the first community event space ever to be at an NYPD facility.

When Ingels was selected as the architect in 2013 (the project’s second firm chosen after the first contract expired), the estimated cost was $57.7 million with a 2020 deadline. After the construction period was extended from two to three years, the cost of the total project jumped to $68 million and the station will now open in the spring of 2021. “This new precinct will strengthen the bond between community and police, which will ultimately help make the South Bronx and our City safer,” de Blasio said in a press release.

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Bronx, Policy

Image via Wikimedia Commons.

We’ve been keeping up with the booming development plans unfolding in the South Bronx, from a massive waterfront complex in the works to the city’s first soccer stadium. Today Governor Andrew M. Cuomo announced specific plans for a $10 million Downtown Revitalization Initiative (DRI) award that underscores the momentum happening in what he called “the heart of the bustling Bronx.” The strategic investments are part of the governor’s ongoing efforts to revitalize the Bronx and create more opportunities in the Bronx Civic Center Downtown neighborhood. The funds will be used for 12 transformational projects in the South Bronx.

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affordable housing, Bronx, housing lotteries

Rendering via Curtis + Ginsberg Architects

Located between East 151st and 153rd Streets, a 15-story affordable rental is now accepting applications for a whopping 107 units. Dubbed Park Avenue Green, the South Bronx building at 2980 Park Avenue is the second phase of a multi-phase housing project. Designed by Curtis + Ginsberg Architects, the building includes 154 apartments and a 4,300-square-foot community facility. Qualifying New Yorkers earning 50, 60 and 80 percent of the area median income can apply for the units ranging from a $702/month studio to a $1,823/month three-bedroom.

Find out if you qualify

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