South Bronx Development Moves Forward After Covid-19 Pandemic Delays
A major mixed-use development on the Bronx Harlem River waterfront is scheduled to start construction next month, with developers expected to close on about $349 million in financing next week following months of delay because of the new coronavirus pandemic.
The project, Bronx Point, will encompass 542 units of affordable housing on a former industrial site in the borough’s Lower Concourse neighborhood. The development will also house several community and cultural centers, including a permanent location for the Universal Hip Hop Museum.
David Dishy, president at L+M Development Partners, said economic uncertainty and anxiety clouded most projects at the beginning of the pandemic last spring, particularly those like Bronx Point that relied on public financing.
“The city was going through a massive amount of consternation about resources and the availability of resources,” he said. “Until that picture cleared up for them, it was understandably touch-and-go.”