NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION SEEKS DEVELOPER FOR BROADWAY PLAZA SITE IN THE BRONX

 

Request for Proposals Issued for the Approximately 80,000-Square-Foot Site As Part of City Effort To Strengthen Existing Retail Corridor and Catalyze Job Creation and Economic Development in the Bronx

New York City, August 24, 2011 – New York City Economic Development Corporation (NYCEDC) today announced that it is seeking a developer for the purchase and redevelopment of an approximately 80,000-square-foot site in the Kingsbridge/Riverdale section of the Bronx The City-owned site which is centrally located on 230th Street between Broadway and the Major Deegan Expressway, is one of the last significantly-sized, primarily vacant and developable sites along the Broadway retail corridor, and its development will further the City’s goals of economic investment and job creation in the Bronx and across the City.

“The Broadway Plaza site possesses enormous potential for developers and its redevelopment will provide a major economic boost to an already thriving retail and commercial corridor,” said New York City Economic Development Corporation President Seth W. Pinsky.  “We are confident that the site will attract significant private sector interest, thereby creating good jobs and strengthening the economic future of the Bronx.”

“This site has great potential, and its development will give a major boost to not only Kingsbridge, but to the neighboring communities of Riverdale and Marble Hill as well as the entire Bronx,” said Bronx Borough President Ruben Diaz Jr. “I thank the New York City Economic Development Corporation for moving so quickly to issue this new RFP, and look forward to the positive redevelopment of this property.”

“I am looking forward to the further revitalization of West 230th Street and the employment opportunities that would benefit the community,” said Councilmember Oliver Koppell.

"For many years I have advocated for commercial development at this site,” said Assemblyman Jeffrey Dinowitz. “West 230th Street and Broadway is centrally located in Kingsbridge and will draw shoppers from Marble Hill, Riverdale, Kingsbridge Heights, and beyond. I am confident that development at this location will be a major shot in the arm for the entire community."

“The Broadway Plaza project lies on a vital commercial corridor in Community Board 8 and is a prime spot for new retail development,” said Community board 8 Chair Robert Fanuzzi. “We look forward to working with EDC to bring the very best retailers to our community.”

The Broadway Plaza site is located one block from the 231st Street stop on the 1 train, near numerous bus lines, and immediately off the 231st street exit on the Major Deegan Expressway, making it easily accessible to residents of the Kingsbridge/Riverdale neighborhoods, as well as those in surrounding areas. Broadway, to the north and south of the site, already has a variety of retail uses, including restaurants, major grocery stores and national clothing stores, as well as with a mixture of smaller stores and service providers. A 5 acre parcel on Broadway between 237th and 238th Streets was recently sold, from Brynwood Partners to a venture between Metropolitan Realty Associates and Angelo, Gordon & Co., and plans are currently underway for an approximately 162,000 square foot shopping center that is anticipated to include BJ’s Wholesale Club as the anchor tenant. The area has also attracted new residential developments such as the Sycamore Court Apartments, a 12-story ground-up condo development on Corlear Avenue and 231st Street, three blocks away from the sites.

The Request for Proposals (RFP) is designed to achieve number of goals to advance the City’s economic development strategy for the borough and across the City.  Goals include: generating a development that complements and enhances local neighborhood businesses; creating a financially feasible and economically viable project; generating tax revenue for the City through the sale of the property; and expanding and preserving quality jobs for local residents through participation in HireNYC, a free program that connects the City's workforce development services to economic development projects, and maximizes permanent employment opportunities for the City’s local and disadvantaged residents.

Projects that aim to achieve a Leadership in Energy and Environmental Design (LEED) rating of at least Silver will also be prioritized. LEED, developed by the U.S. Green Building Council (USGBC), promotes sustainable building and development practices through a rating system that recognizes projects that implement strategies for better environmental and health performance.

To obtain a copy of the complete RFP, visit www.nycedc.com/rfp.  Responses are due by October 24, 2011 at 4 p.m.

About NYCEDC

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook to learn more about NYCEDC projects and initiatives.