NEW YORK CITY-New York City Economic DevelopmentCorp. has announced the selection of Equity One,Inc. to redevelop an 80,000-square-foot site located alongthe Broadway retail corridor in the Bronx. Equity One plans toinvest approximately $54 million to construct a new133,000-square-foot, two-story multi-tenant retail development andapproximately 130 covered parking spaces on the site, located on230th Street between Broadway and the Major Deegan Expressway. Theproject is expected to create over 250 new full and part-time jobsand approximately 500 construction jobs.

Equity One’s development calls for four retail tenants, with theintention of attracting prominent national retailers. The developerwill purchase the site from the City for $7.5 million, withconstruction expected to commence around early 2013 and becompleted within two years. Equity One was ultimately selected toredevelop the site based on its response to an RFP issued in August2011. The development intends to seek at least LEED silverrating.

In addition to creating hundreds of new permanent constructionjobs, as part of its development, Equity One has committed to useNew York City Economic Development Corporation’s HireNYC program tocreate a targeted local hiring plan to fill these jobs generated bythe project. HireNYC is a free City program that connects theCity's workforce development services to economic developmentprojects.