An open-air subway depot deck in the northeast Bronx could pave the way for some 2M SF of untapped development rights, according to a new report by Bronx borough president Ruben Diaz Jr.'s office.
And if plans to cover the 19-acre Concourse Yards—next to Lehman College on the No. 4 line—get the OK, it won't require a significant rezoning either.
It wouldn't be the first time there's been a plan in the offing to deck over the Concourse Yards, which was initially proposed nearly five decades ago when Bronx Community College was also planning to build a new campus on the site. However, despite breaking ground in 1970, the project fell victim to the city's fiscal crisis, reports The Real Deal.
Currently one of the most talked-about boroughs in the city among developers, the Bronx has seen $1.2B in investment since 2014. Diaz's office estimates that the price tag of the Concourse Yards project would be somewhere between $350M and $500M.
Though Diaz announced last year that he would initiate a feasibility study to test the possibility of decking three rail yards in the Bronx, two other locations—Broadway and 240th Street and East 149th Street and the Grand Concourse—were later scrapped for logistical reasons. [TRD]
