Site of Interest Analysis — P.S. 246 Poe Center

Recently, we wrote about current NYC housing supply and demand and the shifting values in the City’s neighborhoods brought on by long-term economic trends AND the much more immediate pandemic impacts. As these changes play out, we expect to see development occur in neighborhoods that have significant as-of-right capacity and the bones of a 15-minute neighborhood.

This month’s Site of Interest — P.S. 246 in the Fordham neighborhood in the Bronx — is an example of just such a site. This (as always) purely hypothetical reimaging of this current elementary school contemplates a mixed use building, with the school remaining in place, additional space for community facilities (such as child care and medical clinics), and a residential building above.

The site itself could provide:

• ~230k sf of residential space (allowing for the addition of 250 housing units)
• ~75k sf of school space (a 15k sf increase over existing)
• ~25k sf of day care, senior care, and other medical facilities
• ~20k sf of open space (split between the school and residential uses)

And the neighborhood already has:

• the adjacent St. James Park, an 11+ acre public park (1 minute walk)
• Fordham University (13 minute walk)
• Fordham Prep School (9 minute bike ride)
• VA Medical Center (12 minute bus ride)
• Fordham Plaza (11 minute walk)
• B, D Kingsbridge Road Subway Station (1 minute walk), 4 Kingsbridge Rd. Subway Station (3 minute walk)
• the adjacent section of Creston Ave. participating in NYC Open Streets
• Kingsbridge Armory (5 minute walk)

Might we see increasing demand in neighborhoods such as this? Let us know what you think.