The Department of City Planning will be holding a public hearing later this month on the plan of Signature Urban Properties to transform a "derelict" section of The Bronx near the Sheridan Expressway with 10 new "affordable" apartment buildings, according to an article in today's edition of The Wall Street Journal.
The $400 million Bronx project is the pair's first ground-up venture, the article said, adding that the area is currently home to a strip of car repair shops and smaller residential buildings. Signature, founded in 2007, is currently working to have it rezoned to allow for the development, the article said.
Ivine Galarza, district manager of the local community board, told The Journal that "around the corner from there, we have a prostitution problem," adding that "there are many ills in that neighborhood. This project promises to rebuild that area."
Miller expects that, if approved, the project would take around seven years to complete, the article said.
The $400 million Bronx project is the pair's first ground-up venture, the article said, adding that the area is currently home to a strip of car repair shops and smaller residential buildings. Signature, founded in 2007, is currently working to have it rezoned to allow for the development, the article said.
Ivine Galarza, district manager of the local community board, told The Journal that "around the corner from there, we have a prostitution problem," adding that "there are many ills in that neighborhood. This project promises to rebuild that area."
Miller expects that, if approved, the project would take around seven years to complete, the article said.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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