A developer, who last month purchased 12 acres along the Harlem River for $32 million, is proposing a mega development that would include thousands of residential units, a hotel, and even a science center.
Dynamic Star is seeking to develop the prime waterfront land directly south of the University Heights Bridge at Fordham Road next to the University Heights Metro North station into a massive 5 million square foot development being called Fordham Landing.
According to the Real Deal and the New York Post, the development, if approved by the city along with the needed rezonings of the land, would include 2,800 residential units, an e-sports stadium, retail space as well as space for community use, conference center and hotel, and a 700,000 square foot Life Science Center for the gene therapy industry.
The vast majority of the residential units will be market rate if the developer pursues the 70/30 program which sets aside 30% of the units as “affordable” with the rest as market rate.
A development this size 3 miles north from the current Port Morris/Mott Haven Harlem River Waterfront hot spot where thousands of units are planned or under construction simply demonstrates how eager developers are to develop anywhere there is sufficient land size in The Bronx.
If approved, this development would only serve to fuel the gentrification currently gripping The Bronx and how will this impact the immediate area which is currently one of the most at risk for displacement in all of New York City?
Although located in Community Board 7, the site is located directly across from CB5 where 64.4% of the population is severely rent-burdened and 16% are unemployed— almost 3x the most recent Bronx unemployment rate.
While a fully developed and accessible waterfront with such amenities seems quite attractive, at what cost will this come to the existing residents struggling to simply survive?