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Bronx Development Reaches 8-Year High

Development in The Bronx hit a couple of high marks in 2017, Bronx Borough President Ruben Diaz Jr. said Tuesday. Dollar volume of $2.7 billion was the second-highest tally since Diaz took office in 2009, while the year’s development total of 16.2 million square feet was the highest of his tenure as BP.

Additionally, Diaz’s annual development report found that developers added 7,379 residential units to the borough’s housing stock in 2017, the highest number of any year since 2009. Residential projects comprised 84%, or $2.2 billion, of the total development spend.

“Look at the numbers,” said Diaz. “We had an amazing 2017. We are continuing to see unprecedented interest in The Bronx from all sectors.”

The Bronx has seen a total of $15.4 billion of development since Diaz took office, according to the report, with 84.8 million square feet of construction across the residential, commercial and institutional sectors.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
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