LATEST NEWS

A Huge Development Complex Will Transform The South Bronx Waterfront

Market rate buildings with gyms, pools, pet care and a waterfront esplanade and more ushers in a whole new South Bronx.

By Jeff Vasishta March 13, 2017
Rendering courtesy of Hill West Architects

What do large scale real estate developers and most struggling artists have in common? Imagination. That may be where the similarities end but there’s no doubt that it takes a lot of imagination (and money) to take a ragged stretch of warehouses and parking lots in the South Bronx and turn them into gleaming residential waterfront complexes with pet care facilities, gyms, a pool, bike storage, screening rooms, and cafés.

After much talk, renderings have finally surfaced for Mott Haven’s make-over and the transformation from grime to fine is nothing short of stunning. The market-rate project will consist of two buildings along the South Bronx waterfront at 2401 Third and 101 Lincoln Avenues, right by the Third Avenue Bridge. The developers are The Chetrit Group and Keith Rubenstein’s Somerset Partners.

RelatedRiverdale In The Bronx Is Becoming One Of NYC’s Hottest Neighborhoods

The Third Avenue site will consist of two 25-story towers and one 16-story tower. It will include 430 apartments—164 studios, 96 one-bedrooms, 134 two-bedrooms and 36 three-bedrooms. The building will also feature a garage for 175 cars.

The 101 Lincoln Avenue site will consist of three 24-story towers and one 22-story tower. It will feature 849 apartments, 20,500 square feet of retail space and 1,100 square feet of space for a community facility.

The architects said in a statement (first published by New York YIMBY):

“The roof of the cellar podium, in those areas which surround the towers, is landscaped and set two feet above the 100-year flood plain. This landscaped deck, open on one side to the river and waterfront esplanade, serves as an entry court and drop-off to both lobbies and is accessed from Third Avenue through a distinctive porte-cochere.”

RelatedStunning Development Projects Are About To Return Tarrytown To Its Glory Days

The projects are not expected to be completed until June and December of 2019. The fact that the developers have stated up front that the properties will all be market rents shows how confident they are about the rapidly escalating prices in the South Bronx. The latter, according to The New York Times, increased by the greatest amount in the city in 2016.

In the report, Mott Haven rents were up 14 percent, from $1,300 a month for a one-bedroom apartment to $1,480. The surge in development in the once and still (in places) blighted area has been welcomed by the de Blasio administration. They have fostered construction by proceeding with a $194 million plan to improve the infrastructure in a 30-block area on the Bronx side of the Harlem River.

Previous talk of development, however, had always included an affordable housing component. The fact that the new renderings state the opposite is sure to anger many community activist groups, whose fears were first stoked when developer Keith Rubenstein first put up a billboard in 2015, which attempted to brand the neighborhood as the The Piano District.

“I just think these things should happen naturally,” Ed Garcia Conde, a Bronx resident who founded a popular blog Welcome2TheBronx told The New York Times. “Why are we going to hand the golden key to developers and make it even easier for them to construct their market-rate housing?”

Jeff Vasishta

ABOUT THE AUTHOR Jeff Vasishta

ABOUT THE AUTHOR Jeff Vasishta

Jeff is a writer, husband and father but not necessarily in that order. As a music journalist he counts Prince, Beyonce and Quincy Jones amongst those he’s interviewed. He's also owned and flipped homes in Brooklyn, NJ, CT and PA.

  • AGORAFY
    Stefano Boeri, the architect mastermind behind the famous plant-covered skyscrapers, is now designing Forest Cities in Liuzhou, China. #ForestCity #China https://goo.gl/PsTUwv
  • AGORAFY
    Auction is the second scheduled in a month for a One57 unit and it could set a NYC foreclosure record. #BillionairesRow #Foreclosures https://goo.gl/NZ3zqD
  • AGORAFY
    Once a couch-surfing website, Airbnb moves on to luxury properties, further disrupting hospitality industry. #Airbnb #Luxury https://goo.gl/7TpLk6
Four Countries To Retire In With $200K In Savings—And How Much Real Estate Costs There
Ever dreamed of retiring abroad? You know, affordable healthcare, better climate, more positive news—becoming an expat seems like an enticing option, especially one you no…
While Other Real Estate Platforms Start Charging Agents $3-Per-Day Exposure Fee, Agorafy Remains Accessible To All
Real Estate searching platform are always finding news ways to diversify their revenues models. Case in point—on Tuesday July 18, Streeteasy, one of New York…
Is Real Estate Crowdfunding The Fix That Urban Housing In America Really Needs?
Saving money for a down payment? One can only hope. Most millennial in their twenties or thirties are mortified that they might never be able…
Brooklyn And Queens’ Real Estate Sub-Markets Continue Their Ascent To The New Heights
So, the sales prices in Brooklyn and Queens hit record highs. Again. Just like they did in December 2016 and at the end of this…
The Economy Of Car Services And Delivery Apps Might Be Making NYC Less Eco-Friendly
Living in an eco-friendly neighborhood is a good thing. And, as it always the case with the good things, it also costs more. High rents…
Building Communities: What The U.S. Developers Should Learn From Soho China
As our world emerges into the new period of globalization and technology, some of the most important by-products of this process are buildings that have…
Five Reasons Why All Entrepreneurs Must Keep Their Eyes On China
It is hard to overestimate the importance of Chinese influence on the modern global economy. Carving out a place in Chinese market and winning over…
Airbnb Up Their Game With A New Luxury Tier Featuring Mansions And Villas
Airbnb is about to seriously up their game. First, the company started testing a new service called Select in an attempt to push accommodation listings…