Bronx Point will deliver up to 1,000 units of housing, including hundreds of units of deeply affordable housing, world-class open space on the Harlem River Waterfront, cultural destinations and will create over 150 permanent jobs and over 1,200 construction jobs
Bronx Point is a critical component of the $194M Lower Concourse capital investment strategy
New York, NY – (RealEstateRama) — The New York City Council today approved Bronx Point, a dynamic mixed-used development that will feature over two acres of world-class public open spaces with a waterfront esplanade, up to 1,000 units of housing, a home for the Universal Hip-Hop Museum, a state-of-the-art multiplex theater, community space, educational programming, a neighborhood food hall and incubator and more. Today’s vote marks the final step in the City’s Uniform Land Use Review Procedure process.
Bronx Point is a key component of a $194 million capital investment strategyfor the Lower Concourse neighborhood, announced by the de Blasio Administration in 2015 and led by NYCEDC. The unprecedented capital investment into the South Bronx neighborhood’s assets was developed through a two-year community process led by NYCEDC that included interactive workshops and visioning sessions to engage the local community in prioritizing the area’s needs.
Major components of the strategy include the acquisition of private properties to develop a new 2.3-acre waterfront park at East 144th Street, a few blocks south of Bronx Point; new sewer infrastructure and a full reconstruction of Exterior Street including three large Vision Zero intersections; and installation of commercial-grade broadband access. All improvements are anticipated to be completed by 2022.
Bronx Point, a mixed-use affordable housing project that will be constructed on the Lower Concourse North site, will be the first housing development in the South Bronx section of the Harlem River waterfront, and will advance the City’s and community’s long-standing goal of opening up access to the Harlem River waterfront in the South Bronx.
The project will include hundreds of units of permanently affordable housing that will target households with incomes ranging from extremely low to moderate. In addition to the over two acres of world-class public open space that will connect seamlessly to the adjacent Mill Pond Park, the project will also include retail space and educational programming.
Bronx Point will be delivered in two phases with up to 600 units of permanently affordable housing, all the open space, major cultural and commercial destinations delivered as part of the phase one by 2022. Phase two is expected to commence within approximately three years after the completion of phase one. Bronx Point is expected to create over 150 permanent jobs and approximately over 1,200 direct construction jobs.
Bronx Point will be developed by Bronx Point Owner LLC, a joint venture between L+M Development Partners and Type A Projects, a woman-owned emerging development firm that is known for their dedication to building affordable educational spaces and state-of-the-art public schools in New York City. In addition to meeting or exceeding a 35% M/WBE participation goal, the development team will participate in HireNYC, a NYCEDC program that connects the City’s workforce development programs to various projects, and will work closely with local partners to connect residents to new jobs in the development.
The City Council’s approval for the project also includes additional community amenities for the neighborhood such as a new 572-seat school in Community School District 7 at 639 St. Ann’s Avenue and improvements to Franz Siegel Park, such as reconstruction of ballfields, recreational lighting upgrades, and other enhancements.
“I am excited about the rezoning of the Lower Concourse North, which will revitalize and bring much-needed affordable housing to my district, in the South Bronx,” said Speaker Melissa Mark-Viverito. “Moving forward, the Council will continue to look for ways to improve the quality of life of all New Yorkers by preserving and promoting affordable housing, and promoting cultural institutions.”
“NYCEDC is always looking for ways to strengthen communities and stimulate economic development. Bronx Point achieves both, and serves as a model for transformative development on the South Bronx waterfront that will create much-needed housing and community amenities,” said NYCEDC President and CEO James Patchett. “Today’s City Council vote marks a critical milestone in our work on this dynamic project. NYCEDC is grateful for the leadership of Speaker Mark-Viverito and Bronx Borough President Diaz in moving this effort forward. We’re excited to continue our work with our partners at HPD, NYC Parks, Community Board 4, the development team and other local stakeholders.”
“The Lower Concourse development will breathe life into city-owned land, integrating valuable cultural, educational, and commercial spaces as well as creating hundreds of permanently affordable apartments,” said Housing Preservation and Development Commissioner Maria Torres-Springer. “We’re looking forward to continued collaboration with our colleagues at EDC and DPR, as well as our local elected officials and community stakeholders to continue to make strides on this transformational project.”
“The approval of the Bronx Point project brings the City closer to its goal of expanding waterfront access along the Harlem River and improving open space in the Bronx,” said NYC Parks Commissioner Mitchell J. Silver, FAICP. “By providing the community a more continuous waterfront esplanade with vibrant open space, we will further vitalize the area and serve a deserving neighborhood.”
“Bronx Point is an exciting project that will deliver much-needed amenities to the community. We at the New York City Schools Construction Authority are proud to help create even more opportunities for local residents and a growing population through the addition of a brand-new 572-seat school on St. Ann’s Avenue,” said Lorraine Grillo, President and Executive Officer of the New York City Schools Construction Authority.
“Bronx Point represents an excellent opportunity to bring new housing units of all types, waterfront access and expanded park space, a new school and other much anticipated cultural and recreational amenities to our borough’s waterfront. I congratulate the City Council for moving this project forward, and I look forward to working with the NYCEDC, HPD, the Parks Department, L+M Development Partners and Type A Projects on this proposal’s forthcoming implementation,” said Bronx Borough President Ruben Diaz Jr.
“Speaker Mark-Viverito and I have a shared goal to bring quality, affordable housing to our community, which is why I’m proud to support this project,” said Council Member Rafael Salamanca, Jr. “In addition, with the approval of this development, our community will receive a much-needed new elementary school. This is truly a transformative project.”
“Bronx Point represents a significant and transformative economic development project that will enhance the Harlem River waterfront and the South Bronx. In addition to the nearly $200 million in infrastructure, the City will invest in improving the ball fields in Franz Sigel Park and a new 572-seat school. These in conjunction with the hundreds of permanently affordable housing units, thousands of jobs, new community facility, commercial and cultural facilities denotes a major achievement for the residents of the South Bronx,” said Paul A. Philps, District Manager, Bronx Community Board 4.“We want to thank, EDC and Speaker Melissa Mark-Viverito and her staff for their collaboration and partnership on this extraordinary accomplishment. We are excited to work closely with the City, L+M Development and their team on making this project a reality.”
“We’re honored by the opportunity to develop this extraordinary site along the South Bronx waterfront. Bronx Point will deliver hundreds of units of permanently affordable housing while establishing a destination for residents from across the borough and beyond. From a state-of-the-art multiplex theater and top-notch educational programming, to a locally-driven food hall and the first-ever brick and mortar Hip Hop Museum, we believe this is a project South Bronx residents can be proud of for years to come. We’re excited to move forward with TypeA Projects, our longtime partner BronxWorks and the many others that will make this a transformative project for the area,” said Josue Sanchez, Project Director, L+M Development Partners.
“With this transformative project moving forward, we are incredibly excited to be part of the effort to enhance the Harlem River waterfront in the South Bronx and create a true community asset. Bronx Point’s dynamic mix of cultural, educational, and community facilities, anchored by hundreds of affordable housing units and world-class public open space, will fulfill Type A’s mission to create vibrant and affordable communities that serve to enrich New York City’s diverse cultural fabric. As a woman-owned developer, we are grateful for NYCEDC’s committed support to level the playing field for M/WBE firms” said Ann Tirschwell, Principle, Type A Projects.
“BronxWorks is proud to be a key community partner on the BronxPoint project which will bring much needed affordable housing, expanded open space, and new job opportunities to our community. The development is a perfect location for us to continue our great work and further our mission to help individuals and families improve their economic and social well-being through effective workforce training and an array of essential services. We employ more than 800 staff across over 30 locations and serve 40,000 Bronx residents a year and our successful existing partnerships with L+M give us great confidence that we will be able to create at Bronx Point a lasting and positive legacy. With this project moving forward, we can’t wait to join a roster of great community organizations to help strengthen the Bronx community,” Eileen Torres, Executive Director, BronxWorks.
“CityScience believes that science is best learned in connection to the communities in which we live. Bronx Point’s location along the Harlem River, adjacent to the inlets of Mill Pond Park, presents a unique opportunity to further our mission to raise the quality of science education and support environmental stewardship in the Bronx and across the City. We are extremely excited to be part of this project and look forward to this opportunity to continue our successful model with a new bricks and mortar location. We are ready to move forward and realize the tremendous promise this project will deliver,” said Thor Snilsberg, Executive Director, CityScience.
Redevelopment of the Lower Concourse North site is part of the De Blasio Administration’s commitment to establishing pedestrian connectivity along the Harlem River waterfront, furthering the goal of creating or preserving 200,000 units of affordable housing, building new infrastructure, strengthening the shoreline and creating commercial and community facilities that provide amenities and services to the surrounding neighborhood.
New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.
The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling Mayor de Blasio’s Housing New York: A Five-Borough Ten-Year Plan to create and preserve 200,000 affordable units for New Yorkers at the very lowest incomes to those in the middle class. For more information visit www.nyc.gov/hpd and for regular updates on HPD news and services, connect with us via www.facebook.com/nychousing and www.twitter.com/nychousing.
Stephanie Baez 212.312.3523 | publicaffairs (at) edc (dot) nyc