Development coincides with other improvements at Hub in South Bronx

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

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 
Prana pays Related $36M in Bronx multifamily play
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
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
Maddd Equities, Joy Construction score $64M for massive Bronx project
G&M Realty's David Wolkoff (Getty, 5Pointz LIC)
Wolkoff’s $300M for 5Pointz tops outer-borough loan list
Wolkoff’s $300M for 5Pointz tops outer-borough loan list
132-05 Avery Avenue, 902 55th Street in Borough Park and 750 Grand Concourse. (Google Maps)
Three landlords slapped with six-figure fines for carving up buildings
Three landlords slapped with six-figure fines for carving up buildings
Brookfield’s Bankside rendering and CEO Brian Kingston (Brookfield, ArX Solutions)
Brookfield’s $190M loan for Bankside tops February outer-borough list
Brookfield’s $190M loan for Bankside tops February outer-borough list
Benchmark's Jordan Vogel with 826 Madison Avenue (top) and 581 Austin Place (Linkedin, Google Maps)
Benchmark picks up UES building; SNL snares Bronx warehouse
Benchmark picks up UES building; SNL snares Bronx warehouse
Clockwise from top left: 1529 62nd Street in Bensonhurst, 46-28 21st Street in Long Island City, 128 Houston Street in the Bowery, 718 East 211 Street in East Bronx and 47 West 55th Street in Midtown (Google Maps)
Mid-market sales slow in final weeks of the year
Mid-market sales slow in final weeks of the year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...