OverviewThe South Bronx 161st Street Corridor encompasses the both the Bronx Civic Center and

Melrose Commons / Third Avenue business districts. The Bronx Civic Center is an urban

center with a strong civic and office core, bolstered by new and enhanced regional

destinations like Yankee Stadium, Gateway Center, Harlem River Waterfront parks, and

the Bronx Museum of the Arts. The recently constructed 775,000 square foot (SF)

Bronx Hall of Justice, designed by Rafael Viñoly Architects, consists of 47 different

Supreme and Criminal Court rooms. The nearby Joyce Kilmer Park and Lou Gehrig Plaza

provide public parkland and settings for concerts, exhibitions, and festivals.

Melrose Commons / Third Avenue is a thriving residential area with vibrant cultural and

retail activity. The Hub, located along Third Avenue, is a regional commercial center of the

South Bronx where more than 200,000 pedestrians pass through each day. As of 2010,

over 400,000 SF of retail space has been built on public sites around Melrose Commons

and the Hub. Boricua Village is a public / private development that includes a satellite

campus of Boricua College, 689 units of mixed-income housing, 47,000 SF of retail space,

and 1.6 acres of public open space.

In 2008, Mayor Michael R. Bloomberg released the “South Bronx Initiative” (SBI). This plan

reflects an effort to sustain the positive effects of several development and infrastructure

projects that the City has undertaken over the past 3 years to attract private investment

and promote the creation of affordable housing, retail, and office space in the South

Bronx. As a result, over $3 billion of public / private investment and new development will

create almost 16,000 construction and permanent jobs and lay the groundwork for

additional, sustainable growth.

Available Commercial Incentives*

� Relocation and Employment Assistance Program (REAP)

� Commercial Expansion Program (CEP)

� Industrial and Commercial Abatement Program (ICAP)

� Energy Cost Savings Program (ECSP)

� South Bronx Empowerment Zone Benefits

� See www.nyc.gov/businessexpress for more information about incentive programs

* Subject to individual program requirements

2011� � � � �SOUTH BRONX 161ST STREET CORRIDOR

Office Market Snapshot1

Number of Buildings: 51

Total Square Feet (RBA): 1.46 million

Available Direct Lease Space: 201,907 SF

Available Sublet Space: 20,956 SF

Vacancy Rate: 11%

Under Construction: 70,000 SF

Class B Office SpaceNumber of Buildings: 16

Total Square Feet (RBA): 774,900 SF

Vacancy Rate: 15%

Average Rental Rate: $30 / SF

Class C Office SpaceNumber of Buildings: 35

Total Square Feet (RBA): 681,694 SF

Vacancy Rate: 7%

Average Rental Rate: $28 / SF

Barretto Park

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Who’s Here

Best Buy

Bed, Bath, & Beyond

Toys R Us

Babies R Us

Home Depot

Staples

T-Mobile

Target

BJ’s Wholesale Club

Marshalls

Raymour & Flanigan

GameStop

Applebee's

Payless

GNC

AT&T

Subway

Michael's

Youngworld

COMING SOON!

Conway

Lens Central Optical

BX Sports

Jaba Furniture

ONE-MILE RADIUS

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SOUTH BRONX

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Office MarketIn September 2009, the City Council adopted the 161st Street/River Avenue

Rezoning to provide opportunities for new high-density residential, commercial,

and community facility development in the civic heart of the Bronx. These recent

zoning changes and public investments have primed the 161st Street Corridor

as a convenient, affordable, and attractive office environment, including the

ongoing construction of the neighborhood’s first Class A office building.

Retail MarketWith new destinations like the Harlem River waterfront parks and the new

Yankee Stadium, the South Bronx 161st Street Corridor is fast becoming a

dynamic urban center of year-round activity for workers, residents, and visitors.

The area has some of the best transit access in the Bronx, with stops on the B,

D, and 4 subway lines, two new Metro North stations (Yankee Stadium Station

and North Melrose Station are both less than 15 minutes from Grand Central

Station), as well as proximity to the Major Deegan and Cross Bronx Expressways.

The Gateway Center at Bronx Terminal Market, completed in 2009, provides a

913,000 square foot retail anchor in the community alongside a vibrant corridor

along 3rd Avenue of local shops and restaurants.

Demographics2

.5 MILE RADIUS 1 MILE RADIUS

Total Population 61,171 200,675

Total Households 20,791 66,577

Total Employees N/A 42,209

Average Household Income $37,290 $35,728

Aggregate Household Income $775 million $2.4 billion

Median Housing Value N/A $197,384

Current Retail Environment

.5 MILE RADIUS 1 MILE RADIUS

Total Retail SF (RBA) 1,406,331 5.9 million SF

Average Rent $20 / SF $23 / SF(per square foot / year)

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Large-Scale Development Activity

The Gateway Center at Bronx Terminal Market

is the Bronx and Upper Manhattan's newest

and most exciting shopping destination,

located just steps from Yankee Stadium. The

LEED Silver certified building, completed in

2009, created nearly 1 million SF of new

retail space, street-level restaurants and

on-site parking for 2800 cars.

� Use: Retail� Cost: $500 million� Status: Complete

Yankee Stadium

Yankee Stadium Park Redevelopment Project

Gateway Center at Bronx Terminal Market Bronx Hall of Justice

Boricua Village

The new Yankees Stadium opened in April

2009 and provides a state-of-the-art home to

the New York Yankees, or “Bronx Bombers,”

baseball team. Much of the stadium

incorporates design elements from the

previous Yankee Stadium, paying homage to

the Yankees' history. The new stadium features

has capacity for 52,325 people and contains

25 fixed concessions stands, along with

112 moveable ones and a Hard Rock Café also

open to the public.

� Use: Recreational / Retail� Cost: $2.3 billion

The Bronx County Hall of Justice, designed by

Rafael Viñoly, is a courthouse at 265 East 161

St, between Sherman and Morris Avenues.

The 10-story building has 775,000 SF and

includes 47 Supreme and Criminal Court

rooms, 7 grand jury rooms, and office

space for the Department of Corrections,

Department of Probation, and the District

Attorney.

� Use: Municipal� Cost: $275 million� Status: Complete

Boricua Village is a 4.5 acre site located in

the Melrose Commons section of the

Bronx that contains 689 units of mixed

income housing, 47,000 SF of retail space,

and 1.6 acres of publicly accessible open

space. The project was a public / private

partnership with NYC Department of

Housing Preservation and Development.

� Use: Residential / Retail /

Higher Education� Cost: $250mm total investment� Status: Complete

As part of the award winning Yankee Stadium

Area Redevelopment Project, the City is

building four new parks with high-quality

recreational facilities including three athletic

fields, an all-weather soccer and football

field surrounded by a 400-meter competition-

quality track, four basketball courts, fitness

equipment area, handball courts, a skate

park, playgrounds, a waterfront esplanade,

tennis courts and a picnic area along the

Harlem River at the Mill Pond Park.

� Cost: $195 million� Use: Recreational� Status: Under construction

South Bronx Map

For additional information please visit www.nycedc.com/CBD or email RESolutions@nycedc.com.

www.nycedc.com | Find us on:

Yankee Stadium

Boricua Village

Bronx Hall of Justice

Gateway Center at Bronx Terminal Market

Yankee Stadium Park Redevelopment Project

Melrose

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High Bridge

Concourse Village

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References1. CoStar; 161st Street BID / Fiel Corporation (220 East 161st Street)

2. Demographics Now; CoStar