PORT MORRIS—Renderings for three-25 story residential towers planned for 101 Lincoln Avenue directly across from Mott Haven Bar and Grill and at the foot of the Third Avenue Bridge have been revealed.
826 market rate apartments will be spread across the 3 towers along the waterfront joining the other 3 at 2401 Third Avenue which already have been approved.
These renderings come just days after Zumper.com revealed that rents for 1 bedroom apartments in the South Bronx increased at a higher rate than the rest of New York City. In fact, the city overall saw a drop of 9.1% for similar units further illustrating how gentrification is quickly taking ahold of The Bronx.
Another dismal report issued last week by the Regional Plan Association, showed that 71% of The Bronx is at risk for displacement.
While many hail these developments as progress and a sign of acceptance of a long neglected borough, it only increases concern for the over 300,000 households RPA’s report indicated that are at risk of displacement.