As Mayor Bill de Blasio’s affordable housing plan kicks into high gear, more developers are pushing through big, subsidized rental projects in the outer boroughs. Today we’ve got a look at a two-building, 14-story development planned for a forlorn, industrial area of the South Bronx.
Real estate watchers are keeping an eye on development in the Bronx, as talks over the future of the 421-a tax break, which greased the skids for new construction in the borough, drag on into the ninth month. Despite the impasse, developers are still planning small buildings in the Bronx.
On a cold January day in 2009, a pipe burst and flooded the boiler of the Home Street Presbyterian Church, in the Foxhurst section of the Bronx. A small electrical fire destroyed the boiler for good, and the company that insured the church failed during the Great Recession. Facing a winter without heat and lacking the funds to repair the boiler, the congregation scattered to other churches in the South Bronx, and the little chapel on Home Street was abandoned. Now, the 1910 structure will be demolished to make way for affordable senior housing.