Last year, Bronx Borough Developer, I mean President Ruben Diaz Jr called to study three Bronx rail yards for possible decking to spur further development throughout our borough.
Today he has issued the findings of the report which singles out the Concourse Yards in Bedford Park and nixing out the 149th Street yards in Melrose and Broadway Yards in Riverdale as currently logistically unfeasible.
Real Estate Weekly reported that The Bronx saw a record breaking increase in sales of multifamily properties reaching $2.4 billion in transactions in 2014 as per data published by Ariel Property Advisors’ Bronx 2014 Year-End Report. Meanwhile, developer Cherit Group is reportedly planning to construct six 25 story towers along the Port Morris waterfront of market rate apartments and condominiums.
This week has been one for the books for the South Bronx. First we heard about the loft building at 2417 Third Avenue in Port Morris being under contract for $37 million, then we reported about the “Banksy” building being developed into market-rate rental apartments. Now we have 4 additional developments on the radar.
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.
Dear Mayor De Blasio, Council Speaker Mark-Viverito, Bronx Borough President Ruben Diaz Jr, New York City Council members:
The Center for Disease Control has just published a study in the April 2014 issue of the American Journal of Preventative Medicine citing a deep connection between a rise in incidents of childhood leukemia and pollution in high traffic areas — traffic pollution which already exists in the South Bronx that contributes to children having 8 times the national rate of asthma.
Can we afford FreshDirect with thousands of more truck trips barreling through our roads in the South Bronx, worsening the traffic situation? Is the empty promise of jobs worth the risk of exposure to our children — a company with dubious labor practices where they are currently being sued by their own drivers? Do we sacrifice our future over corporate greed and over $130 million in tax breaks and subsidies?
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