The New York City Housing Boom Includes New Apartments In Bronx, Ny

By Author: Lawrence Roy
Total Articles: 10
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New York City's metropolitan region is expected to have 11,000 more new apartments open in 2017, than opened in 2016. According to a report from RentCafe, 2016 saw 16,000 new apartments open in the region, and estimate 27,000 new apartments are set to be opened in 2017.
The report showed that Long Island City would see the most new apartments with 3,717, followed by Downtown Brooklyn with 2,318. The bottom of the top 10 list includes Boerum Hill at number 9 with 802 and Prospect Heights at number 10 with 661.

Allen Shayanfekr, CEO of Sharestates, told DNAinfo he believed there would be a spillover effect with companies investing in real estate in other boroughs of the city, including the Bronx. An example would be David Brause's firm, Brause Realty. Currently working in conjunction with The Gotham Organization on a project that is scheduled to open in the next couple of weeks, Brause Realty has looked into property in Sunnyside, Woodside, and the Bronx neighborhoods.

There is a new set of residences in the Bronx, NY under construction in the Fordham Heights neighborhood. A 94-unit mixed use complex that ...
... is scheduled to be completed in February of 2018. 62 of these apartments in Bronx NY are set aside for the NYC Housing Connect affordable housing program. That number is broken down to 48 units available for families that make 60% of the area median income, and 14 units for families that make 100% of the area median income. Rental rates are different for each group. The lottery for these units is open until September 5th.

Procida Development Group filed plans with the Department of Buildings back in January to build 206 rental units that will span across two buildings in the Parkchester neighborhood in the Southeast section of the Bronx. One building will be located at 2047 Newbold Ave and have 124 residential units and a 1,350-square-foot community facility. The second building will be on Westchester Avenue with 82 residential units and about 8,000sqft of retail space. Half of the units will be available through the NYC affordable housing program for those making 60% of the area median income and the other half for those making 80% of the area median income.

There hasn't been any conversation about adding additional housing to the Parkchester development that was built back in 1941 by the Metropolitan Life Insurance Company.