A developer, who last month purchased 12 acres along the Harlem River for $32 million,…
All across the city, we are seeing neighborhoods being destroyed by real estate speculation pushing out longtime residents and established small businesses. Predatory landlords target working class communities inhabited predominantly by ethnic minorities, repackaging it as a “luxury community” which intentionally drives out longtime residents and small businesses. The question is no longer if gentrification is coming to the Bronx, the question is how fast will it happen and what are the consequences to Bronxites?
Last year, Bronx Borough Developer, I mean President Ruben Diaz Jr called to study three Bronx rail yards for possible decking to spur further development throughout our borough.
Today he has issued the findings of the report which singles out the Concourse Yards in Bedford Park and nixing out the 149th Street yards in Melrose and Broadway Yards in Riverdale as currently logistically unfeasible.
In the first wave of construction in Melrose, over 3,000 units of “affordable” housing were constructed bringing thousands of new residents into the area and making the neighborhood the fastest growing neighborhood in The Bronx and 3rd fastest in New York City as per the 2010 census.
Now Melrose is experiencing its second wave of major construction as the last remaining parcels of what was once empty lots filled with the rubble of burnt out and abandoned buildings are being filled in with new affordable developments and even market-rate developments with over 2.1 million square feet of developments are in various phases of construction