May 17, 2018 Comments Off on Bronx Development Reaches 8-Year High Views: 2862 New York News, Uptown/Bronx New York

Bronx Development Reaches 8-Year High

Development in The Bronx hit a couple of high marks in 2017, Bronx Borough President Ruben Diaz Jr. said Tuesday. Dollar volume of $2.7 billion was the second-highest tally since Diaz took office in 2009, while the year’s development total of 16.2 million square feet was the highest of his tenure as BP.

Additionally, Diaz’s annual development report found that developers added 7,379 residential units to the borough’s housing stock in 2017, the highest number of any year since 2009. Residential projects comprised 84%, or $2.2 billion, of the total development spend.

“Look at the numbers,” said Diaz. “We had an amazing 2017. We are continuing to see unprecedented interest in The Bronx from all sectors.”

The Bronx has seen a total of $15.4 billion of development since Diaz took office, according to the report, with 84.8 million square feet of construction across the residential, commercial and institutional sectors.

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