Equity One to Develop 80,000 SF Facility in the Bronx

NEW YORK CITY-New York City Economic Development Corp. has announced the selection of Equity One, Inc. to redevelop an 80,000-square-foot site located along the Broadway retail corridor in the Bronx. Equity One plans to invest approximately $54 million to construct a new 133,000-square-foot, two-story multi-tenant retail development and approximately 130 covered parking spaces on the site, located on 230th Street between Broadway and the Major Deegan Expressway. The project is expected to create over 250 new full and part-time jobs and approximately 500 construction jobs.

Equity One’s development calls for four retail tenants, with the intention of attracting prominent national retailers. The developer will purchase the site from the City for $7.5 million, with construction expected to commence around early 2013 and be completed within two years. Equity One was ultimately selected to redevelop the site based on its response to an RFP issued in August 2011. The development intends to seek at least LEED silver rating.

In addition to creating hundreds of new permanent construction jobs, as part of its development, Equity One has committed to use New York City Economic Development Corporation’s HireNYC program to create a targeted local hiring plan to fill these jobs generated by the project. HireNYC is a free City program that connects the City's workforce development services to economic development projects.