Developers are now looking increasingly to the outer parts of Brooklyn, Queens, and the Bronx for new residential projects, a new analysis by Localize.city has revealed. While Long Island City still leads neighborhoods citywide in terms of new apartments approved to be built, several other neighborhoods have risen up dramatically in the ranks.
Coming in second place for the period between July 1, 2017 and July 1, 2018 is East New York. Development in the neighborhood has largely been spurred by a 2016 rezoning of the neighborhood. For the period that Localize.city looked at, 1,200 new units were approved in the neighborhood. In addition to these new apartments the neighborhood is also set to receive a new 1,000-seat K-through-8 school, new street safety improvements, local park upgrades, and a new community center. Local residents have however remained skeptical about these changes, and wonder whether much of the new affordable development will actually be affordable to residents in the neighborhood.
Melrose, in the Bronx, came in third place, with 1,027 new units approved in the same time frame. Melrose has seen some major development announcements in the past year. The nearly 1,000-unit La Central complex began construction last year; Bronx Commons, which will also be home to a 300-seat music hall aside from apartments, also started construction early last year. The neighborhood will also get a new LGBT Center soon.
The Bronx in particular has seen major development where it concerns newly approved units. Seven of the top 20 neighborhoods for the one-year period Localize.city looked at, are in the Bronx. For instance, the Bronx only accounted for 13 percent of the city’s newly approved units between 2010-2015. In 2016, that number had jumped up to 23 percent. In the first half of 2018, it’s already at 27 percent.
Head on over to Localize.city to take a look at the full report.