Melrose is getting its second Starbucks, this time at The Hub on 149th Street and 3rd Avenue.
After several months of negotiations, the coffee giant has signed a lease at 383 E 149th Street just steps from the 3rd Avenue and 149th Street station on the 2 and 5 line as well as The Bronx’s busiest intersection.
The first Starbucks in Melrose opened at 161st Street in the old Melrose building across from the Bronx County Hall of Justice (technically it was the second in the area as there’s one inside Target at the Bronx Terminal Market).
All of these locations are less than a mile from each other as Starbucks begins to penetrate the market which is causing concern among residents about gentrification.
While there are many residents who welcome yet another Starbucks and don’t see anything wrong with their presence, study after study has shown that the presence of such a store correlates to a rise in housing prices in the immediate area.
And indeed retail rents are on the rise in the area as more and more national chains move into The Hub at the Third Avenue Business Improvement District.
Last year saw the arrival of Burlington and Marshall’s at the old Alexander’s which was gut renovated. Boston Market, Planet Fitness, Blink Fitness, Cinnabon, Auntie Ann’s are also among the many national chains which have claimed space in the area boosting landlord confidence that they can charge a lot more than they have in the past.
This will undoubtedly raise cause more displacement of what’s left of mom and pop shops in the area as landlords will utilize Starbucks’ presence to validate their asking rents.
The Hub is The Bronx’s oldest shopping district and has always been home to thriving small businesses regardless of racial and socio-economic makeup of the surrounding neighborhoods.
Now even that is changing with these national chains that continue to arrive and will only speed up as thousands of more new residents move into the area, particularly at La Central with almost 1,000 affordable housing units just a block from Third Avenue.
No official word yet on the exact opening date but we’ll let you know when it’s announced.
Personally, we’ll still be supporting out local mom and pop shops like Capri Bakery for our coffee. Supporting small businesses is CRUCIAL.
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