While the city considers rezoning a 20-block-long swath of Jerome Avenue beneath the elevated 4 tracks in the Bronx, developers are starting to bet big on the corridor’s commercial potential. Now two investors who lead 925 Capital Inc. want to sell or jointly redevelop a low-slung garage with retail at 1697-1705 Jerome Avenue, in Morris Heights.
At the very end of Bloomberg’s term as mayor, the city unveiled plans to transform a vacant city-owned tract in the Melrose neighborhood of the South Bronx into a million-square-foot affordable housing complex known as La Central. Now a new building application has been filed for the first part of the project, a nine-story supportive housing development at 626 Bergen Avenue.
Stagg Group has filed applications for a 13-story, 61-unit affordable housing development at 2051 Ryer Avenue, in Tremont. The structure will measure 44,860 square feet, and each rental-sized unit will measure an average 735 square feet. Mohammad Badaly’s Badaly Architects is the architect of record, and the existing 3,350 square-foot, two-unit apartment building must first be demolished.
Last week, we talked to Joshua Weissman of JCAL Development about his market-rate projects in the South Bronx, and now we have a rendering of his affordable building underway at 950 Summit Avenue, near Yankee Stadium in Highbridge.
Hunts Point was once the byword for disinvestment and abandonment, but the peninsula along the South Bronx waterfront is finally beginning to see some new growth. One of the neighborhood’s empty lots, at 629 Faile Street, may soon sprout two new four-story apartment buildings.
