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10 new development projects in New York receive $20m funding

10 new development projects in New York receive m funding
© Malcolm Garret

Governor Kathy Hochul this week announced the selection of ten major development projects totaling $19.4 million in Greater Morris Park, Bronx, as part of the state’s Downtown Revitalization Initiative (DRI) and NY Forward programs. The funding aims to support the transformation and long-term economic growth of the corner of the East Bronx.

The two programs encourage local planning committees to develop detailed strategies that identify and recommend major community improvements. The Greater Morris Park area, described as a cornerstone of the borough, is known for its diverse residential neighborhoods, active commercial corridors, and a substantial concentration of healthcare and research institutions.

The massive investment is designed to build on the neighborhood’s existing stability, focusing on projects that enhance public infrastructure and create new opportunities. Major funded components include the construction of a new public plaza at the Morris Park Metro-North Station, transforming the former St. Francis Xavier School into a multi-use community resource hub, and establishing a new small business improvement fund.

Furthermore, the funding allocates significant capital to improving educational and recreational facilities. Projects include renovating the Pelham Parkway-Van Nest Library, upgrading multiple local schools, and enhancing the Matthews Muliner Playground to make it more accessible and inclusive. Other developments involve revitalizing local streetscapes on Morris Park Avenue and establishing a central community engagement center.

The initiatives are framed by a broader commitment to housing and community stability. The DRI and NY Forward programs have previously supported the creation of thousands of housing units, a significant portion of which are affordable or workforce housing. Local leaders and state officials stated that these projects are integral to strengthening the community’s resilience, ensuring that the region can support new residents and businesses while maintaining its rich history and vibrant cultural identity.

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Oct 14, 2026 at 6:42 pm
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Published
May 14, 2026
Last Updated
June 6, 2026 at 6:56 am
Editorial Analysis
Governor Kathy Hochul has allocated $19.4 million to ten development projects in the Greater Morris Park area of the Bronx through the Downtown Revitalization Initiative and NY Forward programs. The investment focuses on enhancing public infrastructure, including the creation of a transit plaza, community resource hubs, and upgrades to educational and recreational facilities. These initiatives aim to drive long-term economic growth and community resilience while supporting local small businesses and affordable housing.
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