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It isn't so much the neighborhood of choice, other than it has created thousands of new working/middle class housing in the last decade...and continues to churn out ever more impressive, and now luxury style developments...most recently being:
These developments are all steps from eachother, and impressive by just about anyone's standard. And these are just some of the developments in the area, which includes other rentals, co-ops, condos, and townhouses.
The Melrose area is now the leader in green communities in NYC, and the epicenter for Bloomberg's affordable housing initiative. Every new development is now feeding off all the other developments, and is now creating it's own demand for great new middle class housing. Cool stuff.
Phases of the Northrose are complete...most of the construction is done...still some work is being done though. Some buildings are occupied now.
Huckleberry, if you take a second and click on the links, you will note these are a mix of condos, co-ops, and rentals, with income ranges up to $165K (Via Verde).
I don't doubt for a moment that the BRONX is gaining population and I applaud the City's efforts to enhance development, but I still maintain that VERY few people will move to the Bronx from Manhattan except for the very tiny group that can qualify for a new affordable apartment and who are now living in an overpriced Manhattan shoebox.
Basically, when people leave Manhattan, they leave New York City. I know lots of people and only one who moved from Manhattan to Queens and that was only becasue her landlord wanted her stabilized apartment (and 12 others) "for his family" <they should have fought this stupid nonsense in court but did not...she took $20K to move from a dumpy apartment with a sublime location, 37th and Park.>
She couldn't afford Manhattan any more so had to choose between Riverdale and Rego Park...she made the right choice and bought a big 4 room apartment in Queens for a song at the bottom of the market.
Kefir your personal experiences are just that..personal..and not representative of the trends or movement of residents. I know lots of Manhattan transplants who now live in the Bronx...which means little as it is also anecdotal.
There is no doubt substantial numbers of NYC residents leave NYC rather than move to the boroughs, but we know many are choosing to stay and expanding to the boroughs. I have already provided the link to demonstrate Manhattan residents who choose to stay, and which borough they choose to move to.
It did not break it down in that level of detail. However, in my personal opinion, the bulk moving to the Bronx are likely people of color living in transitioning communities (Harlem/Heights etc) and facing big rent increases. They are moving to the Bronx for affordability and larger space (surprise!).
The smaller contingent I believe are other Manhattanites/NYC residents who are perpetual renters, and want to own something and stake their claim on the "inevitable" tidal wave of newbies moving to the Bronx. If they get in early, and get their much sought after NYC brownstone or condo, they will be (in theory) enjoying their new found riches in 10 years...like so many other people supposedly did in communities like Williamsburg, Park Slope, Harlem, and Washington Heights. Then they get the priviledge of saying "I told you so" to their friends who laughed at them for moving to the Bronx, and who now are desperate to move to the Bronx but are now "priced out" and looking at Yonkers. I hear it is the "last untouched area of NYC."
The theory being..."you gotta be in it to win it"...and the Bronx is that "last" place that is "untouched"..or so the story goes.
It did not break it down in that level of detail. However, in my personal opinion, the bulk moving to the Bronx are likely people of color living in transitioning communities (Harlem/Heights etc) and facing big rent increases. They are moving to the Bronx for affordability and larger space (surprise!).
The smaller contingent I believe are other Manhattanites/NYC residents who are perpetual renters, and want to own something and stake their claim on the "inevitable" tidal wave of newbies moving to the Bronx. If they get in early, and get their much sought after NYC brownstone or condo, they will be (in theory) enjoying their new found riches in 10 years...like so many other people supposedly did in communities like Williamsburg, Park Slope, Harlem, and Washington Heights. Then they getthe priviledge of saying "I told you so" to their friends who laughed at them for moving to the Bronx, and who now are desperate to move to the Bronx but are now "priced out" and looking at Yonkers. I hear it is the "last untouched area of NYC."
The theory being..."you gotta be in it to win it"...and the Bronx is that "last" place that is "untouched"..or so the story goes.
Well said SobroGuy....Well said...
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