My NYC Black Folk......Gentrification

capblk

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A report by investment firm Ariel Property Advisors recently reported that The Bronx saw a record $2.4 billion in sales of residential properties. Now, in an interview with the firm’s president, Shimon Shkury, reveals to New York Real Estate Journal that Melrose led the borough in such sales.

Such sales do not include commercial transactions, including high profile sales such as the Bronx General Post Office at $19 million, the old YMCA building on 161st Street for $6.85 million, and the College of New Rochelle’s sale of their Melrose campus for $10.5 million, and vacant land transactions
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“The bourgeoning South Bronx attracted a slew of investors, developers, and tenants to pair with a strong pipeline of residential and hotel developments, which had a positive effect on the entire borough’s pricing. More buildings traded in the South Bronx neighborhood of Melrose than any other neighborhood in the borough – 41 properties over 18 transactions valued at $192 million.”

http://www.welcome2thebronx.com/wor...bronxs-multifamily-real-estate-sales-in-2014/


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The Landmarks Preservation Commission approved a revised plan by Youngwoo & Associates to convert the Bronx General Post Office to a retail and dining destination.

Young Woo is planning a market and other retail, as well as a downsized post office for the ground floor and basement levels. Two floors above will house office space, and the rooftop will host a restaurant with a retractable roof and possibly a beer garden, Curbed reported.

When the proposal for 558 Grand Concourse was first presented in January, the design was L-shaped. However, it has been reconfigured to a rectangular shape that appeased the commissioners. The exterior and the landmarked lobby, which contains 13 murals, will also be restored as part of the plans.

- See more at: http://therealdeal.com/blog/2015/02...on-of-bronx-post-office/#sthash.Wm0SeGw3.dpuf
 

Cave Savage

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Aren't country club, throggs neck, and city island white as well ? And isn't there a small section that's straight off the boat Irish ?
I looked it up and Country Club and City Island are mostly white, Throggs Neck is white and Latino. It's interesting how these white enclaves exist at the extreme western and eastern parts of the borough.
 

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Mapping the Crucial Developments That Will Reshape the Bronx

For decades, the Bronx has been ignored in the larger conversation of a changing New York City. But as big developers like Chetrit Group and Greystone turn their eyes north, and Borough President Ruben Diaz Jr. announces his lofty desires for creating a Brooklyn Bridge Park-style public space along the Harlem River, it seems like momentum is starting to build around the fledgling borough. "The South Bronx has experienced an unprecedented amount of capital flowing in the past years over some major developments," Ed García Conde of Welcome2theBronx tells Curbed, referencing progressive mega developments like La Central and Via Verde. Also in the southern part of the borough, landmarked buildings like the Kingsbridge Armory and Bronx Borough Courthouse are being appropriated for cultural events space. Here's a look at a few of the big things that will spearhead more change in the Bronx.



Via Verde
This eco-friendly mixed-income rental and co-op development in the Bronx debuted in 2012 and, according to Welcome2theBronx, "transformed perception of what affordable housing can be." The building has luxe amenities like a gym, terraced rooftops with vegetable gardens, and harnesses solar power.

704 Brook Avenue, Bronx, NY 10455
Website


Opera House Hotel
The hotel in the former Bronx opera house is the first developed by Empire Hotel Group, of Belvedere and Lucerne fame, outside of Manhattan. The hotel will have been in operation for two years as of August, and has been pulling crowds for its proximity to Manhattan, especially Museum Mile, and its reasonable rates. A quick look at its reservation site says that rooms fluctuate around the $150/night mark.

436 East 149th Street, New York, NY 10455
(718) 407-2800
Website


The Umbrella Hotel
Another boutique hotel in Melrose, the Umbrella, will open up imminently. The seven-story, 56-room building will be the neighborhood's second boutique hotel and precedes another small hotel that will rise on a nearby brownfield site on Exterior Street.

681 Elton Avenue, Bronx, NY 10455


The Bronx General Post Office
One of the most anticipated developments underway in the Bronx may be that of the shuttered Bronx General Post Office. Developer Young Woo & Associates paid $19 million to redevelop this grand space into office space, shops, restaurants, and a rooftop terrace. The Landmarks Preservation Commission approved the redevelopment—which includes a 7,500-square-foot addition—in early February.

558 Grand Concourse, Bronx, NY 10451
Website


Bronx Documentary Center
According to Ed García of Welcome2theBronx, the Bronx Documentary Center "has become the epicenter for Bronx photographers, photojournalists, journalists, and documentarians" in the three years since its 2011 opening. The center is located in a formerly abandoned landmarked Victorian mansion.

614 Courtlandt Ave, Bronx, NY 10451
(917) 696-1655
Website


Bronx Commons
The Bronx Commons is an arts-based mixed-use development set to break ground this year. When complete, it will bring 277 affordable rental apartments for low-income artists, live/work spaces for elder musicians, the Bronx Musical Heritage Center, retail space including a grocery store, a rooftop hydroponic greenhouse, green, performance, and exhibition space to Melrose Commons. WHEDco and Blue Sea Development Company won a 2009 RFP for the development. It will be designed by Rogers Marvel Architects.

Elton Avenue and East 162nd Street Bronx, NY
Website


Randall's Island Connector
The Randall's Island Connector, which will debut in the summer, will allow borough residents to traverse the pass between the Bronx and Randall's Island by foot for the first time ever. This is significant because it majorly amps up the borough's access to green space. Previously, the island was only accessible from the Bronx by car. Thanks, Robert Moses. [Photo: W2tB]

East 132nd Street & Willow Avenue, Bronx, NY 10454


Special Harlem River Waterfront District
All eyes turned to the Bronx when Borough President Ruben Diaz Jr. announced that he wanted to develop the equivalent of Brooklyn Bridge Park along the Harlem River. Although New Yankee Stadium already brought some changes to the area, the proposed waterfront park could be accompanied by 4,000 apartment—both market rate and affordable—1.5 million square feet of commercial space, and 500,000 square feet of community facility space. To date, a few feasibility studies have been issued by pro-redevelopment parties. Whether or not it will become a reality has yet to be seen.

East 138th Street & Exterior Street, Bronx, NY 10451
Website


101 Lincoln Avenue
In the wake of Diaz's announcement of a desired waterfront park, behemoth developer Chetrit Group went buckwild and bought a 1.5 acre swath of land in Port Morris where they plan to erect six—count 'em, six—residential towers averaging 25-stories in height. No plans have been filed with the city yet, but the plan gives residents fearful of the dreaded G word something to worry about.

101 Lincoln Avenue, Bronx, NY 10454


Mott Haven-Port Morris Waterfront
Another waterfront redevelopment plan that's being floated is along the borough's most southernly tip. Unlike the Special Harlem River Waterfront Plan a bit to the north, this proposal is community designed and is being vetted by the New York State Department of Environmental Conservation as a priority plan. The proposal calls for open space and waterfront resiliency measures.

Saint Anns Avenue & East 132nd Street, Bronx, NY 10454
Website


La Central
This planned Melrose mega development will bring almost 1,000 apartments spread across five buildings to the borough. The development's plan includes green and solar-paneled rooftops, a rooftop farm, a 40,000-square-foot YMCA, and a dedicated music studio. At the northernmost site in the development that stretches between 151st and 154th streets will be a 25-story tower topped by a dedicated astronomy lab. FXFOWLE is the project's lead architect.

East 149th Street & Bergen Avenue, Bronx, NY 10455
Website


Bronx Borough Courthouse
The defunct, vacant and landmarked Bronx Borough Courthouse has been undergoing some major changes in the last few years. "Elevators are now installed and the building went from four levels to nine levels as the floors were divided into mezzanine levels," Ed Garćia of W2tB writes, "Windows will be in as they have been ordered and the exterior is being restored (finally) to get the building ready for the three-month exhibition by No Longer Empty." Although the only major plan for the building in the future is the aforementioned art exhibit, the Beaux-Arts building's status as a landmark ensures that it'll get fixed up completely sooner or later. [Photo: Wikipedia]

East 161st Street & Brook Avenue, Bronx, NY 10451

Kingsbridge Armory
One exception to this south Bronx map is the rather northern Kingsbridge Armory, which we would be remiss not to mention. The redevelopment of the Kingsbridge Armory has been in the cards for a long time: first as a massive shopping center developed by Related that got voted down by the LPC, and most recently as the world's largest indoor ice rink, that actually might happen. The plan for the landmarked building's redevelopment comes from former NHL player Mark Messier and Olympic figure skater Sarah Hughes, who want to bring educational programs to the facility. The City Council approved the mega project in December, and the city and Kingsbridge National Ice Center inked a 99-year lease for the space in October.

http://ny.curbed.com/archives/2015/..._developments_that_will_reshape_the_bronx.php
 
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