News
Lower Crime And New Development in the Bronx
March 6, 2015
Bisnow
The Bronx could be seeing a rebirth, reports Bloomberg. Sometimes dubbed “SoBro,” the South Bronx now has a boutique hotel, sushi bars and the kind of loft conversions that were the harbingers of hipness in North Brooklyn 15 years ago. The city’s poorest borough saw a 1.3% drop in its unemployment rate last year—the highest drop of any borough—but Q4 numbers were still the highest, at 9.3%. But crime is way down: the borough had 95 homicides last year, compared to 653 in 1990. Mayor de Blasio wants to create a 73-block chunk of retail and new housing along Jerome Avenue, and tax breaks will bring a new 500k SF FreshDirect distribution center in Mott Haven and 300k SF movie studio in Soundview. [Bloomberg]
