Brookfield Properties hit a major milestone last month, topping out the final tower of Phase 1 of its massive Bankside development, a sweeping 4.3-acre riverside project master-planned by Hill West Architects in the Mott Haven neighborhood of The Bronx.

Known as "Third at Bankside," this first section located at 2401 Third Avenue is comprised of three towers (17, 25 and 25 stories tall) sitting atop an eight-story podium. With construction moving swiftly ahead, leasing on Third's 458 units is expected to commence this fall. The figure notably includes about 130 "affordable" apartments which we expect will hit the NYC Housing Connect lottery site soon.

The achievement comes in tandem with another pillar moment: the start of construction on Phase 2, a.k.a. "Lincoln at Bankside," situated at 101 Lincoln Avenue. Phase 2 will add another roughly 900 housing units to the mix, spread across four connected towers similarly propped up on a multi-floor base.

Phase 1 at 2401 Third Avenue (left),  Third Avenue Bridge (center) and Phase 2 at 101 Lincoln (right) | Brookfield Properties | Hill West

As with most developments under the Brookfield umbrella, the buildings will be rich with amenities, including on-site parking, wellness and health facilities, shared lounges, as well as rooftop terraces. Interiors are being designed by Whitehall Interiors and Leong Leong.

Serving both residents and the public alike, Bankside will activate more than 850 feet of riverfront space with a landscaped promenade designed by MPFP. Brookfield also plans to make improvements to the shoreline bulkhead and enhance upland connectivity to the river.

Retail units and a tech-focused community center run by Project Destined will also be integrated, the offer extending over 15,000 square feet of the ground floor.

In all, Bankside will add more than 1.4 million gross square feet of new development to the neighborhood.

Brookfield Properties | Hill West

“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, in a statement.

“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 purchased the property in 2018 for $165 million from Somerset Partners and the Chetrit Group and broke ground on Bankside in 2019. At a total cost of $950 million, the project represents the borough's most expensive private development.