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New York & Tri-State   /   January 4, 2021

Paul Bubny
By: Paul Bubny

Phase 1 of Bronx Point Garners $349M Financing

A public-private partnership of L+M Development Partners, Type A Projects, BronxWorks and the City of New York closed on $349 million in financing for the first phase of Bronx Point, a mixed-use development coming to the Harlem River waterfront in the South Bronx. Construction on phase one is expected to begin in the coming weeks and be completed by late 2023.

Bronx Point’s first phase will deliver 542 units of permanently affordable housing to the Lower Concourse neighborhood, approximately 2.8 acres of public open space and an array of cultural and community-focused programming, including a permanent home for the Universal Hip-Hop Museum.

“This public-private partnership will deliver high-quality affordable housing, a beautifully restored esplanade connecting the community to the waterfront, and a unique cultural institution that highlights the historic contributions the vibrant South Bronx community has made to music,” said Vicki Been, Deputy Mayor for Housing and Economic Development. 

Image credit: S9 Architecture.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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