The New York City Council has approved a major rezoning initiative for the East Bronx, bringing thousands of new homes and $500 million in investments. The Bronx Metro-North Station Area Plan targets 46 blocks around four upcoming Metro-North stations: Co-op City, Hunts Point, Morris Park, and Parkchester/Van Nest. This first rezoning under Mayor Eric Adams includes over a million square feet of commercial and retail space and aims to create 10,000 permanent jobs. The new stations, expected by 2027, will reduce travel time to Manhattan by up to 50 minutes, connecting Penn Station to Metro-North’s New Haven Line and easing reliance on slower transportation options. The plan will add 7,000 new homes, with about 1,700 being permanently income-restricted through Mandatory Inclusionary Housing. Additionally, nearly $500 million in capital investments will support:
The project also includes a parking mandate and density restrictions near Morris Park, resulting in a slight reduction of planned apartments. Developers like Pinnacle Group are already moving forward with new residential projects in Parkchester. Speaker Adrienne Adams praised the plan, noting its potential to address housing needs and improve infrastructure. Although the Metro-North expansion faced delays, it is now set for completion in late 2027. This transformative initiative marks a significant step forward for the East Bronx, promising enhanced connectivity and a revitalized community.
0 Comments
|
BLOG Archives
August 2024
|