Brookfield tops out latest tower in Bankside development

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Brookfield Properties has topped out the final tower at the
phase 1 site, Third at Bankside, located at 2401 Third Avenue and broken ground
at Bankside’s phase 2 site, Lincoln at Bankside, located at 101 Lincoln Avenue.

Bankside is Brookfield Properties’ $950 million, 4.3 acre mixed-use development along the waterfront in the South Bronx’s Mott Haven neighborhood.

Third at Bankside

The master plan includes more than 1,350 apartments, retail
and community space and creates access to Mott Haven’s waterfront for the first
time in more than a century with a public park and promenade. The first
residential tower is expected to open by the end of 2021.

“Brookfield is committed to the future of the Bronx and we
are proud to hit these major milestones as we advance the Bankside
development,” said Alireza Esmaeilzadeh, Senior Vice President, Development,
Brookfield Properties.

“Mott Haven is known for its beloved local restaurants and
shops, and we’re excited to support them – especially as we begin to recover
from the pandemic. By making Mott Haven’s waterfront accessible to the entire
community, creating new retail and community space, generating hundreds of new
job opportunities, and more, our goal is to invest in the borough and knit the
new development into the fabric of the community.”

Brookfield Properties broke ground on the first phase of
Bankside in 2019 and leasing for the 458-unit “Third at Bankside” is expected
to launch at the end of this year.

Phase 2, Lincoln at Bankside, will have 921 apartments, 30
percent of which will be rent-restricted through the City’s Affordable New York
program.

Designed by Hill West Architects, the development features
seven towers that will be interconnected by low-rise elements spread across the
two parcels.

 Each parcel will be composed of two distinct façade types, one primarily masonry and the other glass and metal.

The entire complex will be framed by the new public waterfront park and esplanade on the Harlem River shoreline designed by MPFP. Encompassing more than 34,000 s/f of publicly accessible waterfront promenade, MPFP’s design seeks to create a naturalized waterfront landscape that offers space for both passive and semi-active use. Brookfield Properties will also make substantial improvements to the shoreline bulkhead and enhance upland connectivity to the river.

The development will also include 15,000 s/f of ground-floor
local retail, including a tech-based community center run by a local nonprofit.

Brookfield Properties’ Social Inclusion Team has partnered
with Building Skills NY for its local hiring program at Bankside. Through this
collaboration, more than 20 workforce training partnerships have been
established with local community colleges and community and faith-based
partners. These partnerships will ensure that the construction companies and
subcontractors for the project have local job candidates from the South Bronx,
and that the local hires have the support and skills to retain these jobs
long-term.

“The Bankside project has provided a unique opportunity for
Building Skills to further its mission of helping New Yorkers – particularly
those in underserved communities – secure good-paying jobs in the construction
industry while contributing to the City’s economic recovery effort. We commend
Brookfield Properties’ commitment to ensuring that South Bronx residents
benefit directly from this effort from Day One,” said David Meade, Executive
Director of Building Skills NY.

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