Tuesday, March 20, 2012

EDC quiet on 230th Street mall while broker appears to announce winner (UPDATE)

This teaser story first appeared in the blockbuster issue of the Riverdale Review on March 22.

By Miawling Lam

City officials have seemingly rejected housing in favor of big-box retail stores for the long-awaited 230th Street Broadway Plaza development, the Riverdale Review can reveal.

Artist's rendering of the entrance at the proposed
230th Street Broadway Plaza. 
Documents show a two-story shopping mall appears to have been chosen as the winning project, beating four other proposals in the process.

While the city's Economic Development Corporation remains mum, preliminary signs suggest experienced national developer Equity One has been tapped to redevelop the 80,000-square-foot plot of city land.

According to a three-page brochure that briefly appeared on Ripco Realty’s website last week, tenants were being sought to occupy four spaces totaling a mammoth 115,063 square feet at the site. The available space was to be split evenly between two floors and range from 17,957 square feet to 38,691 square feet. The brochure, and the attached listing, has since been pulled down but a cached version can still be retrieved.

Under the plan, vehicular access would be made available from both West 230th Street and Verveelen Place, while pedestrians were slated to enter via a small plaza on Broadway. Undercover parking for 129 cars would also be provided, offering much-needed relief for motorists accustomed to scrambling for spots on the street.

When contacted earlier today, EDC spokesman Kyle Sklerov refused to confirm if Equity One had been chosen and simply said no winner had been announced. When asked why Ripco Realty appeared to single out one of the five submitted proposals, Sklerov said he did not know.

Intrigued? Want to know more? Read the full story in tomorrow's paper.

UPDATE: EDC confirmed yesterday (April 3) that Equity One's proposal had indeed been chosen. According to a press release, the experienced national developer would invest $54 million in the 80,000 square-foot site and seek four national big-box retailers to lease the available space. EDC estimates the project will create more than 250 new full-time and part-time jobs as well as 500 construction jobs. It is understood the developer will try to fill as many of these positions possible with Bronx residents.

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