Riverdale, Bronx is a unique neighborhood; a historical neighborhood; a neighborhood that athletes, entertainers, and even presidents have all called home at one point. It represents a niche area with a niche real estate market – one that is hard to find nearly anywhere else in New York City.
Residential Development in Riverdale, NY
Residential developments in Riverdale are scarce. An OLR search, for example, does not find any projects that are currently in progress. There are, however, plans for new luxury housing units to go up in the area. The building will be constructed where Montefiore Medical Center previously had plans to open a new ambulatory facility. Montefiore faced harsh public backlash against its project from people who argues it was unnecessary and would create a traffic nightmare. Montefiore decided to give up on its plans for a new medical center in March 2015, and in its place will go the 14-story, 48-unit luxury housing complex.
The majority of commercial development near Riverdale centers around two projects, the first of which is Broadway Plaza. The Broadway Plaza is a 133,000 square foot shopping center just east of Riverdale in Kingsbridge. The developer, Equity One, invested more than $50 million in the project, and some of the tenants right now include TJ Maxx, Sports Authority, and Party City. Kyle Kimball, the president of the New York City Economic Development Corporation, is on record saying: “Broadway Plaza brings 200 local jobs and millions in private investment to the Kingsbridge and Riverdale sections of the Bronx, activating an underutilized site and giving the community the commercial options that have long been envisioned.
The second major retail development near the area is Riverdale Cross, which is just a short distance away from Broadway Plaza. The 162,000 square foot project features a BJ’s Wholesale Clup, as well as a Chipotle, Buffalo Wild Wings, and Smashburger.
Most people associate “transportation” with “accessibility into Manhattan” and assume that the two phrases are synonymous. If entry into Manhattan is one’s only criteria, then Riverdale does not offer the most convenient options compared to other neighborhoods in New York City. The 1 train runs along the southeastern part of Riverdale, making its final stop at Van Cortlandt Park – 242nd Street. Riverdale residents can also use the Metro-North Hudson Line, with stations at West 254th Street right along the Hudson River and at the southernmost point in Spuyten Duyvil right underneath the Henry Hudson Bridge.
There are, however, other public transportation options if one would prefer not to travel by train. There are 10 New York City Bus lines that stop in Riverdale, including the BxM1, BxM2, BxM3, and BxM18 routes.
Mable Ivory of Luxor Homes & Investment Realty says that the busses in Riverdale are some of the best in the city because they seemingly run all the time. Ivory also argues that Riverdale’s reputation regarding transportation gets a bad rap because people unfairly assume commuting anywhere is too much of a pain. She encourages a potential commuter to at least try it, saying: “The quality of transportation in Riverdale is excellent.”