Construction is a constant in all of New York City's five boroughs.
We tend to bemoan the fact that most people who can afford to own or rent in most of the new developments are far richer than the average person and end up gentrifying the neighborhood.
It's long been speculated that some day, the Bronx would face the same ordeal Brooklyn and Harlem have experienced.
There's a potential plan in the works that could bring that long-feared nightmare into reality.
The Bronx Borough President's office has developed a report indicating that around 2 million square feet of development rights could become available if a deck was constructed over the MTA's Concourse Yards.
President Ruben Diaz, Jr. states in the report, "[this] is a real opportunity to not only provide much needed homeownership, mixed-income housing and retail space, but to allow Lehman College to expand by better connecting it to the Bedford Park neighborhood and making it a true community campus."
The construction of a deck could cost anywhere between $350 million and $500 million, but would not require a significant amount of rezoning.
Additionally, the Bronx has been an attractive area for investors and developers in the recent years.
However, those developers haven't been gathering too many fans from their attempts to recreate the Bronx into the "Piano District."
Regardless, these developers have increased investment in the Bronx over 26% from 2014.
djbobbydrake Until we meet again (next weekend) #thebronx #nyc #subway #bedfordpark
Diaz believes that it's a necessary to begin work in developing a brighter future.
He stated, "[smart] planning for the future requires us to consider all options, including real estate that does not yet exist."
Though this is not the first time there has been a plan to develop a deck over concourse yards (there was one that broke ground in the '60s, but was scrapped due to the city's fiscal crisis), this seems to be the most promising.[via The Real Deal] [Feature Image Courtesy Instagram]