Brookfield Reaches Construction Milestones at $950M Bronx Development
- Mar 29, 2021
Brookfield Properties has topped out the final tower, Third at Bankside, in Phase I, and has broke ground on Phase II of its Bankside master-planned development in the Mott Haven neighborhood of the South Bronx, N.Y.
Located at the Third Avenue Bridge along the Hudson River, Bankside is a $950 million, 4.3-acre mixed use project featuring more than 1,350 apartments. Incorporating a public waterfront park and promenade, as well as retail and community facility space, and featuring views of Manhattan, Queens and the Bronx, Bankside is among the largest private investments undertaken in the borough’s long history.
The first phase of Bankside broke ground in 2019. Leasing for the 438-unit Third at Bankside is slated to commence at the end of this year. Lincoln at Bankside, the Phase II development, offers 921 apartments, 30 percent of which will be rent-restricted through the Affordable New York program.
In January, Domain Cos. in partnership with The Vorea Group, broke ground on Lyra, a $310 million mixed-income, mixed-use development in the Mott Haven neighborhood.
Bankside incorporates seven towers interconnected by low-rise elements that sprawl across the twin parcels. The development will feature two distinct types of facades, one glass and metal, the other overwhelmingly masonry in nature, chosen to reflect the industrial legacy of the enclave. Weathered masonry and brick, dark metal accents, raw concrete and liberal use of glazing will predominate across the development as a whole.
The development will feature 15,000 square feet of ground floor local shopping. Included in that space will be a tech-based, non-profit-run local community center.
Bankside residents will benefit from outstanding access to public transportation. The 4, 5 and 6 subway lines are all proximate to the development.
Bankside will make the waterfront accessible to the entire community, which will result in new retail and community space. The new public waterfront park and Hudson River esplanade were designed by MPFP, the development itself by Hill West Architects. Whitehall Interiors and Leong Leong are responsible for the interior work on the development.