With this purchase of five acres of waterfront land, is the South Bronx New York’s newest development hot spot?
The Chetrit Group and Somerset Partners are betting big on the Bronx. The developers have recently purchased 5 acres of industrial land along the Harlem River. The Wall Street Journal reported that they plan to build up to six 25-story market-rate apartment towers on the land.
In early April, the ten finalists in the Rebuild By Design competition unveiled their proposals to protect the Tri-state region from the next Sandy. And in the near future, a jury will select a winner—or winners—to receive federal funding to pursue their plans. But before that final announcement is made, AN is taking a closer look at each of the final ten proposals. Here’s Penn Design and OLIN’s plan for the South Bronx.
With his time in office coming to a close, Mayor Bloomberg is moving swiftly ahead with his administration’s affordable housing plan, and calling on developers to submit proposals to build on the last sizable stretch of vacant city-owned land in the Melrose and HUB area of the South Bronx. The NYC Department of Housing Preservation & Development (HPD) is overseeing the Bronxchester Project, and yesterday announced a Request for Proposal (RFP) to develop two parcels into affordable housing and mixed-use space.