New York City Economic Development Corporation

Kingsbridge Armory

Delay In State Financing Holds Up Kingsbridge Armory’s Conversion Into Sports Complex, Kingsbridge Heights

10:00 am on March 31, 2016 By Reid Wilson

Back in October of 2014, the Kingsbridge National Ice Center, led by Kevin Parker and Mark Messier, signed a 99-year lease with the New York City Economic Development Corporation (NYCEDC) to convert the vacant Kingsbridge Armory, at 29 West Kingsbridge Road in Kingsbridge Heights, into an ice sports facility. As planned, the 750,000-square-foot building, an individual landmark, will be converted to accommodate nine ice rinks, one of which will be a 5,000-seat arena, and 50,000 square feet of community facility space. Politico New York now reports the NYCEDC has extended the deadline by a month for the developer to obtain $158 million in construction financing, at which point it would turn over the lease to the developer to begin construction.

Big U

City Selects Team To Design Lower Manhattan Section Of Flood Protection System

6:00 am on February 16, 2016 By Reid Wilson

In the wake of Superstorm Sandy in 2012 and the realization of rising sea levels, YIMBY, in 2013 and 2014, wrote on “Seaport City,” which was the Bloomberg administration’s ambitious proposal to mitigate flood waters in Lower Manhattan. But the city’s Economic Development Corporation is moving forward with another, less expensive plan, once dubbed the Big U and later the Dryline. The latest news concerns transforming the current shoreline from Harrison Street, in TriBeCa, to Montgomery Street, on the Lower East Side. This section would measure roughly 3.5 miles, and last week the city selected AECOM, who leads ONE Architecture and Bjarke Ingles Group (BIG), and Dewberry to officially design and engineer it, Crain’s reports.

1555 Bedford Avenue

Mixed-Use Redevelopment Planned At Bedford-Union Armory At 1555 Bedford Avenue, Crown Heights

4:00 pm on December 15, 2015 By Reid Wilson

The New York City Economic Development Corporation (EDC) is allowing an undisclosed developer to redevelop the currently vacant, 138,000 square-foot Bedford-Union Armory property at 1555 Bedford Avenue, in western Crown Heights. According to DNAinfo, the former military facility will be transformed into residential units and a recreational facility. The domed portion of the facility will be home to a soccer field, three basketball courts, and a swimming poll, and will be operated by CAMBA. Along President Street, 13 townhouse units will be carved out of the building. The armory is low-rise in nature on its southern street front. Finally, a mixed-income residential building will be built from the ground up on the site’s eastern end. The entire project must pass through ULURP.

2325 Third Avenue

City Seeks Developers For 70,000 Square-Foot Commercial Project At 2325 Third Avenue, East Harlem

3:00 pm on December 14, 2015 By Reid Wilson

The City’s Economic Development Corporation and Housing Preservation and Development have launched a request for proposals for the vacant, 7,000 square-foot development site located at 2321-2325 Third Avenue, in East Harlem between East 126th and 127th Streets, according to DNAinfo. The site boasts 70,000 square feet of commercial development rights and is located directly adjacent to the site of a planned 115,000 square-foot proton beam therapy center. The commercial project is just a small portion of the two-block mega-development dubbed E125. The blocks bounded by East 125th through 127th Streets and Second and Third Avenues will eventually be home to 1,000 residential units, up to 700,000 square feet of commercial space and at least 30,000 square feet of community space. 800 of the residential units will rent at below-market rates.

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