GOVERNOR HOCHUL ANNOUNCES GREATER MORRIS PARK IN THE BRONX RECEIVES $20 MILLION FROM DOWNTOWN REVITALIZATION INITIATIVE AND NY FORWARD AS NEW YORK CITY WINNER OF DOWNTOWN REVITALIZATION INITIATIVE AND NY FORWARD PROGRAM
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Bronx, NY- Governor Kathy Hochul announced today that the Bronx neighborhood of Greater Morris Park will receive $20 million in funding as the New York City winner of the eighth round of the Downtown Revitalization Initiative (DRI) and the third round of NY Forward.
The Greater Morris Park DRI area has general boundaries of Pelham Parkway to the north, Hutchinson River Parkway to the east, East Tremont Avenue and Westchester Avenue to the south, and Bronx Park and White Plains Road to the west. It includes the neighborhoods of Morris Park, Van Nest, Westchester Square, Indian Village, and Pelham Parkway. Existing Business Improvement Districts (BIDs) within the Greater Morris Park DRI include the Morris Park, Westchester Square, and White Plains Road BIDs. This area is a top 10 employment center for New York City and will soon see two new Metro-North stations as part of the Penn Station Access project. A recent rezoning was approved along with $500 million in capital to support the community.
“Today’s announcement by Governor Kathy Hochul of $20 million in Downtown Revitalization Initiative funding for Greater Morris Park is a significant investment in the Bronx and a huge win for our borough! We have an incredible, once-in-a-lifetime opportunity to position the Greater Morris Park community as a critical intermodal transit hub that will drive future growth and dramatically enhance the economic vitality of The Bronx,” said Bronx Borough President Vanessa L. Gibson. “As the second-largest employment center in The Bronx and a top 10 business hub across all of New York City, Greater Morris Park has already positioned itself to be a vital economic engine for the borough and the greater New York City region. We are grateful for the Governor’s continued leadership in recognizing that The Bronx is a thriving economic generator that will continue to create job growth and career opportunities for our residents. This historic investment will help build a brighter future for Morris Park and the entire borough. We are excited to see this $20 million financial commitment and are grateful for our Bronx Economic Development Corporation team, led by our President Rob Walsh, our Bronx Tourism Council, and our Planning & Development team. We remain committed to advocating for funding that supports all our communities, ensuring the Bronx continues to strive and thrive in 2025 and beyond.”
“This $20 million investment is a transformative moment for Greater Morris Park and the Bronx. It will fuel small businesses, improve infrastructure, and drive lasting economic growth. BXEDC, alongside the Bronx Borough President’s Office, is committed to ensuring this funding creates real opportunities for businesses and residents alike. We thank Governor Hochul for her leadership and vision in empowering communities across New York City,” said Rob Walsh, President of the Bronx Economic Development Corporation.
As part of the Greater Morris Park application, 32 capital projects were identified, totaling approximately $105 million in capital-requested funding. The wide range of projects includes beautification projects, public park improvements, and transit, traffic, and pedestrian infrastructure projects. This funding aligns with Borough President Gibson’s vision to enhance and revitalize the Bronx’s commercial corridors, creating vibrant spaces that support businesses and provide opportunities for residents.
The 2024 cycle marks the eighth round of DRI applications which will invest $100 million in 10 new communities that was selected by the Regional Economic Development Council (REDC), with The Bronx being located in the New York City REDC. This program is a cornerstone of the State’s economic development program, led by Governor Kathy Hochul to transform downtown neighborhoods into vibrant centers that offer high quality of life and are magnets for redevelopment, business, job creation, and economic and housing diversity. The Bronx received a previous DRI award in 2018 for the Bronx Civic Center neighborhood.