Recent News

Momentous Redevelopment Of The South Bronx’s Spofford Juvenile Detention Center Approved

Following a crucial vote by The New York City Council Committee on Land Use, a massive redevelopment proposal for the long-vacant Spofford Juvenile Detention Center in the the South Bronx will officially move forward. The project is expected to have transformative effects on the surrounding Hunts Point neighborhood, and is the latest component of the city’s multi-billion dollar initiative to rejuvenate the South Bronx.

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La Central developers secure $335 million financing deal

Developers of the nearly 1,000-unit La Central project in the South Bronx announced Thursday they have secured $335 million in financing for two buildings in the affordable-housing project—despite federal tax reform punching a $20 million hole in the budget.

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Gentrification City

Once upon a time, developers who were looking to make smart investment plays would throw up a building in Williamsburg, Long Island City or Bushwick and watch the buyers and renters flood in. But those neighborhoods have now largely topped out, sending investors on the hunt for the next corner of New York City that is ripe for opportunity.

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The Peninsula is on the Horizon

Plans for a new residential and commercial complex on the site of the old Spofford detention center include 740 new units of affordable housing, half of which will be set aside for local residents.

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The Bronx Is Building

On parking lots, rubbly plots and the occasional community garden, the Bronx seems awash in new apartments.

New market-rate housing is still pretty scarce, and most of what is rising are apartments priced as affordable housing, aimed at those who can’t pay market rates. Across the South Bronx, in a miniboom, several thousand affordable rental apartments are under construction or planned, according to developers, brokers and city officials.

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