New York & Tri-State + Uptown/Bronx + Finance | January 4, 2021

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. 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 15-20 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).

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