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The notorious cowboy of Pelham Parkway is being sent off into the sunset, and the controversial developer who landed the property is promising to replace the old paddock with something more stable.
The builder, Mark Stagg, plans to replace Buster Marengos sorry-looking shed at 1680 Pelham Parkway South with a six-story, 130-unit apartment complex on the dead-end street that has been the decades-long site of the horse grounds.
Were going to build a beautiful building, Stagg told the Daily News Thursday. The area is really a diamond in the rough, and were excited to develop it.
Stagg will combine the lot with an adjacent 13,000-square-foot parcel he bought for $3.3 million in April.
I saw a big demand, Stagg said of the area. And when I learned that someone else had bought the lot next door, I was intrigued.
Construction will begin in February, Stagg said, adding he hopes to have the building open by January 2016.
The developer said 20% of the rental units will be set aside as affordable which allows him to seek city tax breaks, a move that has riled Bronx leaders in the past.
Stagg accepted city tax abatements in 2011 and 2012, promising to build affordable housing in the north Bronx, before trying to turn those properties into homeless shelters, says one local leader.
He was trying to feed himself twice at the public trough, said Father Richard Gorman, chairman of Community Board 12.
He has to be watched very carefully to make sure he doesnt double dip like he did on me.
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Bronx horse stable to become apartment building
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