Rezoning Clears Way for ‘Small City’ in the Bronx

The industrial blocks along West Farms Road in the Bronx, hard up against the Cross Bronx Expressway to the north and the Sheridan Expressway to the east, do not look like a welcoming place for new development.

A development firm co-founded by Gifford Miller, a former New York City Council speaker, though, is betting that the stretch, rezoned for residential use last October, can be transformed into what the Bronx borough president, Rubén Díaz Jr., calls “a small city.” The project, which is to include 1,325 units of housing and 46,000 square feet of retail space, took an important step forward this month, when it received $1.2 million in capital financing from Mr. Diaz’s office and another $1.3 million allocated by City Councilman Joel Rivera.

That money, combined with financing from the city’s Department of Housing Preservation and Development, will allow Mr. Miller’s company, Signature Urban Properties, to move forward on construction of the project’s first two buildings, he said.

NY Times

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