Gov. Kathy Hochul announced Thursday, Feb. 27, that Greater Morris Park will receive $20 million in funding as the New York City winner of the eighth round of the Downtown Revitalization Initiative (DRI) and the third round of NY Forward.
Bronx Borough President Vanessa L. Gibson celebrated the funding, calling it a transformative investment for the borough.
“Today’s announcement by Gov. Kathy Hochul of $20 million in Downtown Revitalization Initiative funding for Greater Morris Park is a significant investment in the Bronx and a huge win for our borough! We have an incredible, once-in-a-lifetime opportunity to position the Greater Morris Park community as a critical intermodal transit hub that will drive future growth and dramatically enhance the economic vitality of The Bronx,” Gibson said.
The funding was awarded after the Borough President’s Office submitted an application last October. The Regional Economic Development Council named Greater Morris Park the New York City winner in the latest rounds of the DRI and NY Forward programs.
The Greater Morris Park DRI area is bounded by Pelham Parkway to the north, Hutchinson River Parkway to the east, East Tremont Avenue and Westchester Avenue to the south, and Bronx Park and White Plains Road to the west. It includes the neighborhoods of Morris Park, Van Nest, Westchester Square, Indian Village, and Pelham Parkway. Existing Business Improvement Districts (BIDs) within the area include the Morris Park, Westchester Square, and White Plains Road BIDs.
Greater Morris Park is a top 10 employment center in New York City and will soon see two new Metro-North stations as part of the Penn Station Access project. A recent rezoning was approved alongside $500 million in capital funding to support the community.
“This $20 million investment is a transformative moment for Greater Morris Park and the Bronx. It will fuel small businesses, improve infrastructure, and drive lasting economic growth. BXEDC, alongside the Bronx Borough President’s Office, is committed to ensuring this funding creates real opportunities for businesses and residents alike,” said Rob Walsh, President of the Bronx Economic Development Corporation.
As part of the Greater Morris Park application, 32 capital projects were identified, totaling approximately $105 million in requested funding. These projects include beautification initiatives, public park improvements, and transit, traffic, and pedestrian infrastructure enhancements. The funding aligns with Borough President Gibson’s vision to revitalize the Bronx’s commercial corridors, fostering vibrant spaces that support businesses and create opportunities for residents.
The 2024 cycle marks the eighth round of DRI applications, which will invest $100 million across 10 selected communities. The Bronx falls under the New York City Regional Economic Development Council (REDC). The DRI, a cornerstone of New York State’s economic development strategy, aims to transform downtown neighborhoods into thriving, high-quality areas that attract redevelopment, business investment, job creation, and economic and housing diversity.
The Bronx previously received a DRI award in 2018 for the Bronx Civic Center neighborhood.
