Bronx, NY – On Monday, October 28, 2024, Bronx Borough President Vanessa L. Gibson, in conjunction with her 2nd Annual State of The Borough Address on April 18th, 2024, joined the Topographic Bureau in releasing their annual development report for 2023, highlighting the most successful year yet in total development funding for the borough.
With over $4.3 Billion dollars of investment across 357 individual properties, the report spotlights total investments made in both mixed-use ($1.5 Billion) and residential development ($1.7 Billion) last year. Notably, over 10,000 new residential housing units were also built in 2023. This is a significant milestone in the face of an ongoing housing crisis city-wide.
“I am very excited about this report, as it showcases the ever-growing level of development and opportunity here in our borough,” said Borough President Vanessa L. Gibson. “This scale of investment is a positive reflection of our continued effort to revitalize The Bronx. Working together with our development leaders, Bronx businesses, community boards, non-profits, and elected officials, we achieved great economic growth last year and boosted the local economy, created jobs, and further enhanced the quality of life for all Bronx residents.”
A featured development from 2023 is the Penn Access Project, which will create four ADA-accessible Metro-North Railroad stations in Hunts Point, Parkchester/Van Nest, Morris Park, and Co-op City. This large-scale public investment will be the biggest expansion of Metro-North’s service since its founding in 1983.
The 2023 Annual Development Report can be found here (2023 Annual Development Report.pdf).
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