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New York

From the archives: A market-rate future for the Bronx?

Development replaces demolition as borough stabilizes

The recent history of Bronx real estate is a tale as much about demolition as development, but the future looks like an era of change.

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A borough of stark contrasts, its northern section, which includes Riverdale, has always been ritzy and is now staving off large-scale development with restrictive zoning regulations. While the borough’s less expensive areas have traditionally served as the steady source of housing for much of the city’s working class, the South Bronx conjures up two principal images: Yankee Stadium and urban decay. Full of government-subsidized housing, the South Bronx is finally seeing the first tentative steps toward creation of market-rate condominiums. Read the full story from the October 2005 issue after the jump.