As the recovery takes hold in the outer boroughs, certain Bronx neighborhoods – mainly those adjacent to Bronx Park and the parkways that radiate out from it – have seen a number of filings for market-rate buildings in recent months.
And now, we’re starting to see new building permit applications in the heart of the South Bronx, the part of the borough which has traditionally seen the least interest by market-rate builders. While the projects might not be large in size or number, they hint at more opportunities for equitable market-rate development in the city’s most affordable borough.
Yesterday, applications were submitted to construct two new four-story multifamily buildings, at 598 East 167th Street and 1232 Fulton Street, both in the Morrisania section of the South Bronx.
1232 Fulton Street, image from Google Maps
Both of the permit applications were submitted by Mount Vernon-based Badaly Architects, a favorite among builders of market-rate projects in The Bronx. The permits list two different developers – Robert Lumaj and Elvis Dushi – but both of the parcels of land were picked up by Fulton Heights, LLC, based in the Albanian-heavy East Bronx neighborhood of Morris Park.
The developers got a great deal on land, paying just $40,000 and $39,000 for the vacant lots, respectively – the sort of deal you get for parcels too small to be bought by affordable housing developers in a neighborhood where market-rate development is unproven.
At 598 East 167th Street, the developer is planning an 8-unit building of 5,288 square feet. At 1232 Fulton Street, 10 units are planned over 6,852 square feet of residential space, along with a 495-square foot walk-in diagnostic medical center. With average unit sizes below 700 square feet and an untested market, the projects are almost surely rentals.
The filing is the first we’ve seen in recent months in Morrisania, but not in the South Bronx. In trendier Mott Haven, closer to Manhattan, a different developer with an Albanian last name (sensing a pattern?) is planning a larger 15-unit building at 532 East 142nd Street.
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