The Bronx Economic Development Summit kicked off with a powerful commitment from Mayor Zohran Mamdani, who vowed to partner with the borough to rectify past injustices and foster economic growth. The two-day event, organized by Our Bronx and the Bronx Economic Development Corporation (BXEDC)brought together key figures and community members to address the Bronx’s historical and present-day challenges.
On June 6the summit’s second day, Mamdani took the stage as the keynote speaker, surrounded by notable attendees including Deputy Mayor Julie Su, Cea Weaver of the Office to Protect Tenants, Borough President Vanessa Gibson, and Council Member Pierina Sanchez. The event focused on themes of economic justice and opportunity, with Mamdani drawing parallels to the Bronx’s tumultuous past and outlining his vision for a brighter future.
The Bronx’s Struggle and the Path to Economic Justice
Sandra Lobo, executive director of Our Bronx, introduced the mayor by emphasizing the importance of collaboration between government and community organizations. She highlighted the need for an effective economic strategy, noting that the federally supported Bronx draft plan would only succeed with true partners in government and other institutions.
Lobo expressed optimism about the current alignment with city government on critical issues such as childcare, tenant protections, and support for small businesses and street vendors. ‘Family stability is economic development,’ she asserted, underscoring the interconnectedness of social and economic well-being.
Addressing the Legacy of Disparities
Mayor Mamdani began his remarks by invoking the work of Bronx-born photographer Mel Rosenthal, who documented the borough’s decline during the 1970s and 1980s. Mamdani spoke of the ‘arson for profit’ era, when landlords burned their buildings rather than repair them, and government policies treated the Bronx with ‘benign neglect’ and ‘planned shrinkage.’
Despite the destruction, Mamdani highlighted Rosenthal’s photos, which depicted lively communities fighting for justice. ‘It is high time that City Hall matches these efforts,’ he declared, pledging to leave neglect behind and lead with action and investment.
An ‘All of Government Approach’
The mayor emphasized the need for an ‘all of government approach’ to combat the legacy of disparities in the Bronx. He pointed to his new Block By Block housing plan, which aims to create and preserve 200,000 affordable homes over the next 10 years, spurring job creation in the process.
Mamdani also discussed initiatives such as the Community Opportunity to Purchase Act, which allows tenants to own their neglected buildings, and a program for renters to generate equity in the appreciated value of their homes. Additionally, he highlighted the upcoming city-owned grocery store in Hunts Point, set to open next year on the site of the former Spofford Juvenile Detention Facility.
The redevelopment of the Kingsbridge Armory, with part-ownership by Our Bronx, was praised as a model for keeping the people of the Bronx in the driver’s seat. ‘City Hall is delivering on our belief that government can drive the change that improves New Yorkers’ lives,’ Mamdani stated, emphasizing the importance of community leadership.
A Commitment to Restore the Bronx’s Image
Mamdani concluded his speech by quoting Rosenthal, who said of his photo subjects, ‘I take their picture and give them back their image.’ The mayor echoed this sentiment, committing to restore the Bronx’s image by reflecting the dignity, strength, resilience, and creativity of its residents.
‘We will work together to build a future worthy of your image for generations to come,’ Mamdani promised, rallying the crowd with chants of ‘Let’s go Knicks!’ in celebration of the team’s recent NBA Finals win.
