Simone Tapped for $400M MXD in the Bronx

NEW YORK CITY—State officials announced on Thursday that it selected Simone Development Companies for a $400-million mixed-use project to be built on 33 acres of the Bronx Psychiatric Center in the Morris Park section of the borough.

The project is located at 1500 Waters Place, adjacent to Simone Development's highly successful 1.4-million-square-foot Hutchinson Metro Center office park and near the planned Metro-North Station in Morris Park. Empire State Development announced the selection of Simone for the project that calls for the development of up to 1.9 million square feet of mixed-use space on the soon-to-be vacated state-owned parcel. The project is expected to create approximately 1,900 construction jobs.

In addition to extensive office development, the phased project will include a retail plaza, a 150-room hotel, and 100,000 square feet of space for higher education. Plans also call for community meeting space and brand new recreational fields and amenities for the Morris Park community.

ESD president and CEO designate Howard Zemsky said of the award, “Today's announcement is wonderful news for the entire Morris Park community, which will benefit greatly from the construction of this new mixed-use development. From medical and retail services to education and community space, this center will serve a variety of important functions for Bronx residents and provide important jobs for local business owners and workers.”

Joseph Simone, president of Simone Development Companies said, “Simone Development Companies has a long history of community investment and development in the Bronx, and we are excited to take this bold step forward and create jobs and economic opportunity in Morris Park. We believe that this project further illuminates the bright future ahead for the Bronx and its growing cluster of health care organizations and higher education institutions.”

The land sale process began in December 2013 when ESD issued a Request for Proposals to identify interested buyers and evaluate potential re-uses of the surplus 33 acres of state-owned land. The agreement with Simone, which is subject to a diligence period and public approval process, is for approximately $16 million, state officials note.

In phase one of the project, the existing Betty Parker Building at the site will be reconfigured to include infill at both ends, creating two open-air courtyards. Upon completion, the revitalized building will total 500,000 square feet for business or medical offices. Targeted uses include a healthcare training institute, educational space and an incubator for biotech research.

The existing John W. Thompson Building will also be redesigned to include a business hotel with meeting facilities and a community college, both totaling 100,000 square feet. A 60,000 square foot parcel in back of the building will be converted into a two-level parking garage.

The first phase will also include construction of two new one-story retail buildings of 20,000 square feet each featuring service, retail and restaurant tenants. Simone will also build new athletic facilities including a baseball diamond and turf football/soccer/lacrosse field.

The second phase of the project will include four new 10-story buildings of 250,000 square feet each for business and medical offices, as well as an adjacent parking garage.

Plus, if you have a project that has made its debut in the past decade, check out our Pioneering Projects: Developments That Make a Difference, to appear in Forum's April Issue.

For questions about this  issue, or to participate, contact Gregg Christensen.