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The Bronx: An Urban Comeback Story

Posted by: Christian Peralta

28 August 2006 - 9:00am

"When it opens to the public in fall 2009, the new Gateway Center will house a mix of national and local retailers and restaurants. The center's tenants will include Target, BJ's Wholesale Club, Home Depot, Best Buy, and Bed, Bath & Beyond, as well as community retailers. As part of the project, Related will restore the Prow Building, at the corner of East 149th Street and River Avenue, in an effort to preserve the history of the old Terminal Market."

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The Gateway Center is just one of many new projects that mark a new stage in the economic development of the Bronx.

"The story today in the Bronx is not as much the affordable housing story as it is the beginnings of a more mixed income economy, and one that will better support retail uses," said Adam Weinstein, the chairman of the Phipps Community Development Group, one of the nation's largest not-for-profit developers, owners, and managers of affordable housing.

With a slate of major new development projects, including the new Yankee Stadium, New York's Bronx borough is headed for a comeback after decades of decline and struggle.

"When it opens to the public in fall 2009, the new Gateway Center will house a mix of national and local retailers and restaurants. The center's tenants will include Target, BJ's Wholesale Club, Home Depot, Best Buy, and Bed, Bath & Beyond, as well as community retailers. As part of the project, Related will restore the Prow Building, at the corner of East 149th Street and River Avenue, in an effort to preserve the history of the old Terminal Market."

The Gateway Center is just one of many new projects that mark a new stage in the economic development of the Bronx.

"The story today in the Bronx is not as much the affordable housing story as it is the beginnings of a more mixed income economy, and one that will better support retail uses," said Adam Weinstein, the chairman of the Phipps Community Development Group, one of the nation's largest not-for-profit developers, owners, and managers of affordable housing.

Source: New York Sun, Aug 23, 2006
Full Story: Big Comeback in the Bottom of the Ninth for the Bronx
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