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New York

The Bronx hits (new) tipping point

While affordable housing development still accounts for lions share of construction, move toward market rate is taking hold

Developer Mark Stagg at the under-construction 6155 Broadway,
Developer Mark Stagg at the under-construction 6155 Broadway

From the September issue: Long a symbol of urban decay, the South Bronx is booming with new construction these days as developers — big and small — clamor for a foothold there.

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Buoyed by cheap land and financial backing from the city, affordable-housing builders have racked up the lion’s share of projects over the last four years, according to an analysis by The Real Deal of building permits and offering plans filed between Jan. 1, 2011 and July 31, 2015. [more]

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Residential Market ReportThe Bronx