Official announcements from New York City Council or relevant economic reports

NYC Council Approves Bronx Rezoning for 7,000 Homes, $500 Million Investment

Aug 15, 2024, 07:18 PM

The New York City Council has approved the Bronx Metro-North Station Area Plan, which rezones 46 blocks in the East Bronx. This initiative is expected to facilitate the development of 7,000 homes, create thousands of jobs, and invest nearly $500 million in the area. The plan includes the construction of four new Metro-North train stations and aims to improve infrastructure and pedestrian-friendly streets. The rezoning is part of the broader 'City of Yes' initiative, which seeks to adopt zoning reforms similar to those in other cities across the country. The Council's decision marks a significant step in addressing New York City's housing needs, although some critics argue that the measures are insufficient.