The Real Deal New York

Council expected to greenlight Bronx plan for 4,600 new apartments

Rezoning of Jerome Ave. expected to happen today
March 22, 2018 10:05AM

Jerome Avenue in the Bronx (Credit: Google Maps)

The de Blasio administration’s rezoning plans are coming to the Bronx.

The City Council is expected to approve rezoning a stretch of Jerome Avenue in the Bronx on Thursday, another neighborhood rezoning that the de Blasio administration hopes to achieve in pursuit of its housing goals, according to Crain’s. The city anticipates that this rezoning will lead to about 4,600 new apartments being built.

Rents along the major Bronx road are too low to support market rate housing, so the city will subsidize construction in the neighborhood going forward. The street is a popular place for auto shops that will likely have to relocate if a developer purchases their land, although the city will provide money to help businesses that get displaced.

The city has also set aside $189 million for parks, open space and businesses in the Bronx neighborhood, and it has pledged to open a pair of new schools as well.

Other rezonings that have passed under the de Blasio administration include Midtown East, Far Rockaway and East New York[Crain’s]Eddie Small