Schur Management holds groundbreaking ceremony for new development

A rendering of 2030 Creston Avenue, which will include residential, retail and commercial space.
Photo courtesy of Schur Management Company, Ltd.

A new housing development was celebrated this week.

On Tuesday, July 21, Schur Management Company, Ltd. held a groundbreaking ceremony for 2030 Creston Avenue, an upcoming mixed-use development that will include residential, retail and commercial space.

The property, formerly a Central Parking System parking lot located between East Burnside and Bush avenues, will soon be the location of a development that tops out at eight stories at the building’s eastern and southern side and 11 stories on its northern and western walls.

The building’s 114 apartments will include studio, one-, two- and potentially three-bedroom units.

The building’s rental units will be set at affordable market rates, and will contain 11,500 square feet of commercial space.

The site will have an underground parking area for approximately 40 cars, as well as a recreation area, common room and a study room for kids and students.

“This building is a step in the right direction towards availability and improvements of housing for residents in the Bronx and it will be good for the neighborhood,” said Billy Schur, president of Schur Management Company, who said his vision of developing the Bronx began with his grandfather, who had a long-tenured history of working in the borough as a developer.

“This will prove to be a great project and I would like to thank my family, Borough President Ruben Diaz, Jr., our co-sponsors, which includes NYC Department of Housing Preservation and Development, NYC Housing Development Corporation, Capital One Bank and Hudson Capital, as well as everybody else for their involvement and support,” he said

Schur Management Company’s new project has also gained a positive reception and response from local political leaders such as Diaz, Senator Gustavo Rivera and Assemblyman Victor Pichardo, who were all in attendance.

Diaz, who spoke at the press conference, allocated $500,000 to the project.

“I am so happy for Billy and his family and I want to congratulate them on this wonderful future development,” said Diaz. “This site, located within walking distance of the Grand Concourse, will be a tremendous asset to the community and will attract residents as well as retail and commercial businesses. It will also lead to receiving proper funding for more improvements in the neighborhood.”

“The Bronx is coming back – there’s no better way to say it,” said Councilman Fernando Cabrera. “With these types of developments, the Bronx is showing that it can not only build, but that it can also teach and demonstrate for other neighborhoods and communities how to do the same thing.”

Reach Reporter Steven Goodstein at (718) 260-4599. E-mail him at sgoodstein@cnglocal.com.

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