City’s “worst” neighborhood improves

TRD New York /
May.May 29, 2012 12:00 PM

A Bronx community previously dubbed “the worst neighborhood” in the country” by President Jimmy Carter back in the 1970s has since turned around. Crain’s reported that the Crotona Park East section of the Bronx, which in 2008 had a commercial vacancy rate of 24 percent, has seen its commercial vacancy rate drop to 16 percent.

Crain’s said the area should be a thriving retail center, primarily due to its three Subway stations and 90 businesses. But a 2008 business survey, conducted by the non-profit Women’s Housing and Economic Development Corporation, found that nearly $150 million was leaking from the community because residents couldn’t find the things they needed inside.
They wanted more electronics stores, clothing and shoe shops for women and children, as well as specialty food retailers.

Now, the non-profit organization has repurposed a couple of empty storefronts into pop-ups, which have finally helped Crotona Park East fulfill its retail potential. Though the number isn’t specified, they include a fish store and a women’s clothing shop. The neighborhood merchant association has also conducted several “shop local” campaigns to generate retail interest in the neighborhood, which has paid off. “Now there are so many people walking around, going into shops,” said Jebel Ceesay, the association’s president. “It’s much better.” [Crain’s]


Related Articles

arrow_forward_ios
Donald Trump and Dean & Deluca's Soho location (Credit: Getty Images, iStock)

Trump Organization sues Dean & DeLuca over rent defaults

Barney's at 660 Madison Avenue with Ashkenazy Acquisition Corporation's Daniel Levy (Credit: Getty Images, LinkedIn)

Barneys’ flagship Madison Avenue spot will stay open — but with a smaller footprint

Magnum Real Estate Group's Ben Shaoul (Credit: Getty Images and iStock)

Ben Shaoul uses Bitcoin to sell retail condo for $15M

(Credit: iStock)

It’s over for Barneys: Luxury retailer to be sold, stores closed

Barneys creditors want to review a revised offer that would keep stores open. (Credit: Getty Images)

Barneys creditors push plan to salvage the company

Vornado chairman Steven Roth (Credit: Getty Images)

Vornado slashes Forever 21’s rent, dimming 2020 outlook

47 Greene Street and President & CEO of Acadia Realty Trust Kenneth F. Bernstein (Credit: Google Maps)

Acadia plows ahead with $122M retail investment in Soho

A Victoria's Secret store in New York (Credit: Getty Images)

Victoria’s Secret sues WTC landlord amid store closures and layoffs

arrow_forward_ios