No place is more resilient than The Bronx. After years of online shopping threatened the existence of bricks and mortar retailing, the pandemic was a knockout blow for several national chains with a local presence. However, a recent rebirth has seen large spaces vacated by bankrupt companies get acquired by thriving national retailers building their presence in America’s third most densely populated county. Beyond the malls and power centers, local shopping corridors throughout the borough are enjoying low vacancies and record rents.
Most New York Democrats breathed a sigh of relief last week despite Republican gains in Congress and Albany. While the power structure remains status quo, the ideological center moved slightly to the right. Real estate developers support Democrats over Republicans by a wide margin and they will need to leverage that influence to address several issues looming over The Bronx real estate market.
This is not a post about Mayor Adams’ anti-crime initiatives. On Sunday 50,000 athletes of all backgrounds and abilities from around the world will compete in the 51st annual New York City Marathon. It will run at full capacity again after last year’s half sized roster and 2020’s cancelation. Mile 20 of the 26.2 mile course will bring them through the South Bronx, which is more mileage than Staten Island gets. Long time contestants have surely noticed the changes in the local landscape.