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
(iStock)

To survive, NYC retailers are treating average Joe’s like they’re rich

To survive, NYC retailers are treating average Joe’s like they’re rich
Governor Andrew Cuomo and Roosevelt Field Mall in Long Island (Getty)

Malls allowed to reopen in New York state — with strict guidelines

Malls allowed to reopen in New York state — with strict guidelines
The financing deal comes after AMC theaters have been shuttered for months due to the coronavirus pandemic. (iStock)

AMC nears deal to avoid bankruptcy

AMC nears deal to avoid bankruptcy
Brooks Brothers CEO Claudio Del Vecchio (Getty)

Brooks Brothers files for bankruptcy

Brooks Brothers files for bankruptcy
(iStock, Getty, Wikimedia)

Retailers boost rent payments but Covid surge prompts caution

Retailers boost rent payments but Covid surge prompts caution
Federal Reserve Chairman Jerome Powell (Getty)

Real estate stocks benefit from second quarter rally

Real estate stocks benefit from second quarter rally
The economy beat expectations in June, adding 4.8 million jobs, with retail and hospitality leading the way. But a surge in coronavirus infections threatens further gains. (Getty)

Retail and hospitality led June job gains as virus surged

Retail and hospitality led June job gains as virus surged
American Dream mall

New Jersey’s American Dream mall is a financial nightmare

New Jersey’s American Dream mall is a financial nightmare
arrow_forward_ios

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

Loading...