Mega residential
development coming
to the Mott Haven A rednering of Bankside, a new $950 million development in Mott Haven.
BY JASON COHEN
It looks like the south
Bronx is gentrifying.
On Thursday, November
21, Brookfi eld Properties introduced
Bankside, a $950 million,
4.3 acre mixed-use. multi
tower development located
along the waterfront in Mott
Haven.
There will be more than
1,350 apartments, 30 percent of
which will be income-targeted
through the Affordable New
York program.
Bankside represents one
of the largest private investments
ever undertaken in
the borough. Brookfi eld purchased
the property in September
2018 for $165 million
from Somerset Partners and
the Chetrit Group.
“We are excited to unveil
the new Bankside name
and design and to commence
construction, bringing the
development to life,” said
Brookfi eld Property Group
chairman Ric Clark. “Mott
Haven is a special neighborhood,
and we think Bankside
will be a great addition,
bringing much-needed housing,
a new public waterfront
park and esplanade, and hundreds
of construction jobs,
many of which will be fi lled
with Bronx residents through
our local hiring program.”
Bankside will consume two
parcels located on each side of
the Third Avenue Bridge along
BRONX TIMES REPORTER, NOVEMBER 2 4 9-DECEMBER 5, 2019 BTR
Photo Courtesy ArX Solutions
A pre-construction aerial view of Bankside’s $950 million development in Mott Haven. Photo Courtesy Infl ight Solutions
the Harlem River – at 2401
Third Avenue and 101 Lincoln
Avenue. There will be 462,000
gross square feet of development
at 2401 Third Avenue
and 950,000 gross square feet
at Lincoln. The Third Avenue
parcel will have three towers
and 101 Lincoln Avenue will
have four towers.
The towers will be interconnected
by low-rise elements
spread across the two
parcels. All the towers will be
25 stories, except for the one
on the 2401 Third Avenue site,
which will be 17 stories.
The construction, which
has now begun, will occur in
two phases, beginning with
more than 450 apartments on
the site at 2401 Third Avenue,
expected to open by the end of
2021.
Brookfi eld has created a
local hiring program to maximize
job opportunities for
residents of the south Bronx
in conjunction with the construction
project.
Andrew Brent, spokesperson
for Brookfi eld Properties
feels Bankside will benefi t the
neighborhood.
“The development site has
been vacant or underutilized
for some time and has cut the
community off from the waterfront
for generations,” Brent
said. “We have heard consistent
feedback from community
members who desire new
housing, new open space and
access to the waterfront, and
who welcome construction
jobs if they open opportunities
for local residents.
“We believe the benefi ts
will be substantial and are
working hard to build a dynamic
and sustainable project
that improves the quality
of life for local residents,” he
added.
There will be a public waterfront
park and esplanade
on the Harlem River shoreline.
Brookfi eld will also make
substantial improvements to
the shoreline bulkhead and
enhance upland connectivity
to the river.
The development will include
15,000 square feet of
ground-fl oor local retail, including
a tech-based educational
and community center
run by Project Destined, the
nonprofi t that administers a
real estate based education
program focused on empowering
underserved communities
through training in fi nancial
literacy, total health and leadership
development.
Brookfi eld worked with
Project Destined on a educational
and mentorship program
with Brookfi eld executives
and students from Bronx
public schools.
Elected offi cials understand
this will drastically
change the community, but
are standing behind the project.
Artist rendering of the Brookfi eld Properties, Bankside, in Mott Haven.
Photo Courtesy ArX Solutions
However, Councilwoman
Diana Ayala noted that residents
in Mott Haven must
have a voice when it comes to
large developments like this.
“As elected offi cials, we
must prioritize development
that addresses our city’s affordable
housing crisis and allows
our constituents the opportunity
to remain living in
the neighborhoods they know
and love,” Ayala said.
One civic-minded Mott Haven
resident is not in favor of
this giant development. Mychal
Johnson, co-founding
member of South Bronx Unite,
feels gentrifi cation isn’t good
for economically oppressed
communities of color.
Johnson, who served on
Community Board 1 from 2005
to 2013, feels Bankside will
not benefi t the community.
It seems like the community
board and Borough President
Ruben Diaz Jr. aren’t looking
out for the community, he remarked.
Meanwhile, a local businesswoman
doesn’t share
Johnson’s concerns.
The Bankside parcel is
one of the most expensive
properties ever purchased in
the Bronx said Rosa Garcia,
owner of the Mott Haven Bar
& Grill.
“I like the fact that it is also
thinking of the community
by adding community access
spaces, recreational facilities
and affordable apartments.”