Development coincides with other improvements at Hub in South Bronx

TRD New York /
Jul.July 15, 2011 01:41 PM

Development at the Hub intersection in the South Bronx will coincide with other improvements in the area, the Wall Street Journal reported, including more public space and improved traffic routes.

“Right now, we’re not the shopping area that we once were,” said Vincent Valentino, executive director of the Hub Third Avenue Business Improvement District centered at the intersection of East 149th Street and Third Avenue. “Hopefully it will bring people down here,” he said of the improvements.

Upgrades include the removal of a small building used as a bus dispatching facility and the addition of tables, seating and more greenery. A water fountain and a sculpture by artist Lewis DeSoto will also be added.

Triangle Equities is developing two under-utilized parcels
of land bounded by Westchester Avenue, East 149th Street, and Brook and Bergen avenues. The larger of the two buildings, on a 58,000-square-foot lot, will house retail and office space as well as a supermarket and restaurant. The smaller building, on a 53,800-square-foot lot will be home to another restaurant and a school. Triangle is in contract to purchase the parcels from the city for around $6.2 million with the project set to begin in fall 2012, the Journal said.

One store owner in the area has mixed feelings about the development.

“I probably have to compete with them,” said Luis Vega, who owns the Butcher’s Choice Meat Market, which has two stores at the Hub. “I’m a little guy. They’re going to take customers away with better prices.” [WSJ]

Related Articles

1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

448 East 143rd Street in the Bronx (Credit: Google Maps)

Private developer’s NYCHA project in Mott Haven lands $79M in financing

1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)

Maddd Equities, Joy Construction score $64M for massive Bronx project

Rafael Salamanca and the Bronx (Credit: Getty Images, iStock)

Bronx councilman snuffs out another de Blasio rezoning

Union Crossing at 825 East 141st Street with The Bluestone Group's Eli Tabak and Madison Realty Capital's Josh Zegen (Credit: Union Crossing Bronx)

South Bronx office building lands $85M refi

Hudson Companies president David Kramer 

David Kramer on outer-borough development in the 2010s

2455 3rd Avenue in the South Bronx (Credit: Google Maps)

Altmark partnership plans 135-unit South Bronx high-rise

From left: Blackstone's Jonathan Gray, Joseph Simone of Simone Development and 535 Zerega Avenue in the Bronx (Credit: Google Maps, Simone Development)

Blackstone buys Bronx warehouse for $29M from controversial carter