Back in 2009, New York City approved the rezoning of the Lower Grand Concourse area…
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The gentrification of the South Bronx is in full swing despite denials by our borough president, Ruben Diaz Jr, that it isn’t happening.
Yesterday we reported on the expansion of the landmarked Clocktower Loft Apartments and today we share the exclusive story of the first market-rate condominiums coming to the Lower Concourse Rezoning Area.
The old 2 story factories at 221 E 138th Street at Canal Place has been torn down and in its place will rise a 7 story, 50 unit condominium development with ground floor commercial space according to Anthony Gurino of Tahoe Development which purchased the buildings for $2,800,000 in September 2015.
After six years of filings with NYC’s Department of Buildings and construction delays, 500 Exterior Street is rising with the 11 story hotel slated to be completed sometime in 2016 and Holiday Inn Express has leased the building according to owner Harshad Patel. The property sits across from the Special Harlem River Waterfront District where a proposed waterfront park would go along with 4,000 units of housing (2.8 million square feet of housing, 2.3 million square feet of commercial space, 1 million square feet of community space).
The other day I decided to take walk around the Lower Concourse Rezoning District so that I can document the area before it starts changing and buildings are either demolished or converted.
What struck me the most was the number of available signs for entire buildings or lots to be developed that weren’t there before. It seems that owners are starting to pay attention to the media coverage and beginning to market their properties.
Morris Court, which began construction two years ago after demolishing almost an entire block (only one property owner did not sell), is nearing completion as the first development to take advantage of the Lower Concourse rezoning approved back in 2009.
The $69 million complex, when complete, will include 201 mixed low & middle income units for families with incomes ranging from approximately $28,595 to $90,700 per year. 25% of the units will be set aside for families that were formerly homeless.
During Bronx Borough President Ruben Diaz Jr’s State of the Borough address today, he publicly called upon the city to issue a new Request for Proposal for PS 31 and to truly explore whether or not it needs to be demolished.
It seems the Borough President has listened to our cries for the building to be salvaged since our petition to save the building was addressed to him among others.