Mott Haven Residents Get Ready for Gentrification
Bronx Times
By Jason Cohen
It looks like the South Bronx is gentrifying.
On Nov. 21, Brookfield 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. Brookfield 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 Brookfield 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 filled with Bronx residents through our local hiring program.”
