Showing posts with label NYCEDC. Show all posts
Showing posts with label NYCEDC. Show all posts

Wednesday, January 25, 2012

230th Street shopping plans come into focus

Here is our headlining story from this week's Riverdale Review.

By Brendan McHugh 

The city’s Economic Development Corporation is choosing between five bids for the 230th Street development, ranging from a single supermarket to a 16-story mixed-use development with 200 units of housing. 

The development will rise near the corner of 230th Street and Broadway, sandwiched between the elevated No. 1 subway and the Major Deegan Expressway. 

A source close to the project laid out basic details of the plans and stressed that they were in no particular order. 

The first, which the source dubbed the “Foodtown murderer,” is a 72,000-square-foot supermarket with 300 parks spaces on the roof. Foodtown, which was recently renovated, is directly across the street. 

Another proposal is a 32,000-square-foot, two story building with a supermarket on the ground floor. The second floor would be office space, and 90 parking spots would be available at grade level. 

A third project has 133,000 square feet of retail space as a two-story building. It would be a mix of businesses, such as a specialty grocer and national chains. There would also be 130 parking spaces below grade. 

Monday, October 3, 2011

Waste charged in EDC South Bronx job creation program

Here is a story from this week's Bronx Press. Enjoy.

By Brendan McHugh

The city’s Economic Development Corp. failed to spend $9.3 million meant for job creation and training, most for the Bronx.

According to City Comptroller John Liu, in 1992 the EDC received $8.9 million in exchange for financial breaks for the Riverside South residential development, all of which was intended to benefit the Harlem River Rail Yard in the South Bronx.

“It makes little sense that millions intended for economic development remain unused for so long, especially in the Bronx where jobs are greatly needed,” Liu said.

This Public Purpose Fund, earmarked from the beginning to benefit the rail yard, was fully funded by 2005. An audit by Liu, which found the idle money, recommends the EDC find a way to use the money to benefit the Bronx, “and not wait another 19 years to do so.”

Jump below for the full story.