Tuesday, April 3, 2018

City Council Passes Rezoning of Jerome Avenue Enabling The Development of Residential Buildings

The City Council has finally approved the rezoning of 95 blocks of Central and South Bronx along Jerome Avenue.  The approval which took over three years to be finalized will allow for the development of an estimated 4,600 new housing in the area.  The plan also calls for a permanent 1,150 affordable units to be built within the next decade and transform what is now considered an industrial area into one with mid-sized high rise apartments and retail.

According to the Commercial Observer, the Jerome Avenue district will run from McClellan Street in the south to 184th Street in the north, passing through Highbridge, Concourse, Mount Hope, University Heights and Morris Heights. Along with the deBlasio administration's adherence to the recently passed Mandatory Inclusionary Housing Amendments enacted in 2016, the administration also agreed to constructing two elementary schools, initiating a Housing Task Force whose goal is to preserve 2,500 units in the area and creating a program funded by up to $200,000 which will be used for tenant organizing and addressing tenant displacement.

Opponents of the City Council vote were very vocal of the displeasure of the rezoning.  Of their concerns are that the rezoning would reduce the amount of affordable housing.  They wanted more assurances that there would be added requirements by developers to include affordable housing.  Another concern is that businesses along Jerome Avenue would be compromised by construction that will eventually take place.  Many would have to shutter because of it.  Despite this, Borough President Ruben Diaz, Jr. supports the overall plan and believes that the protections set forth in the plan should enhance the visibility of the area.
"With today’s vote, the City Council has secured a positive future for the Jerome Avenue corridor that is inclusive of the area’s current residents and does not leave the people of The Bronx behind.  As part of the ongoing negotiations on this rezoning, both my office and the City Council, led by Council Member Vanessa Gibson, have secured considerable protections for the area’s existing residents and businesses. My office was able to negotiate commitments from the administration that will provide deep affordability in new apartments, new protections against tenant harassment and the preservation of thousands of existing affordable units in Community Boards #4 and #5, among others.
 
The City Council has built on that success, securing new protections and job training services for the autoworkers within the Jerome Avenue corridor, new funding for park and infrastructure improvements, and new programs to encourage local hiring. I especially want to thank City Council Members Gibson and Fernando Cabrera for their focus and dedication on this issue, and the years they have spent working to ensure that the needs of the community are balanced against the expectations of this rezoning. The people of The Bronx are not opposed to improvement. However, the rezoning of the Jerome Avenue corridor must work for everyone. The agreements that have been secured by my office and the City Council will help do just that, and I look forward to working with the administration to begin the implementation of the initiatives and programs they have agreed to provide."
Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

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