search

The Real Deal Logo

Trending

LA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsBillionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveFort Lauderdale crane collapse victim seeks over $50M in damagesFort Lauderdale crane collapse victim seeks over $50M in damagesTides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity deal
New York

Re-evaluating the South Bronx

Sign Up for the undefined Newsletter


From the February issue: Redevelopment in Melrose Commons, the Lower Grand Concourse and the Bronx Civic Center — three adjacent areas of the South Bronx that the Bloomberg administration is looking to rezone — has taken a turn for the worse in the last few months. While other parts of the South Bronx have seen small-scale investors pull out, these neighborhoods are seeing something slightly different because of both the souring economy and the growing uncertainty about the rezoning there. In Melrose Commons, plans for mixed-income condos have been shelved, while in a 30-block area of the Lower Grand Concourse, which is slated to be rezoned as a mixed-use area that would include residential housing, speculators are losing their appetite for investing in warehouse properties.

Tags
The Bronx