Brookfield Properties Unveils New $950M Mixed-Use Development

NEW YORK CITY – Brookfield Properties has unveiled the renderings of its new $950 million mixed-use development in the Mott Haven submarket of the Bronx. The 4.3-acre development dubbed the Bankside sits along the Harlem River waterfront and will include the creation of more than 1,350 apartments with 30 percent designated to affordable housing.

The development will grant access to Mott Haven’s waterfront for the first time in more than a century through the creation of a public waterfront and promenade. It is comprised of seven towers interconnected by low-rise elements spread across two parcels of land on each side of the Third Avenue Bridge along the Harlem River at 2401 Third Ave. and 101 Lincoln Ave.

Hill West Architects designed the property, which features two distinct façade types, one primarily masonry and the other glass and metal, interwoven to reflect the neighborhood’s industrial history.

Construction for the project has been broken down into two phases, starting with more than 450 apartments at 2401 Third Avenue, which can expect to open by the end of 2021. Construction labor for the project was sourced through a local hiring program to maximize job opportunities for South Bronx residents.

The new public waterfront park and esplanade will comprise over 34,000 square feet, which MPFP designed. It will also include 15,000 square feet of ground-floor retail and a community center that non-profit organization Project Destined will occupy and run. The center will build upon the organization’s mission of providing access to real estate based education programming for financial literacy and leadership development to members of underserved communities to improve their social outcomes and quality of life.

Brookfield has continuously partnered with Project Destined on its project-based educational and mentorship program where Brookfield executives serve as mentors to students from Bronx public schools.