FOR IMMEDIATE RELEASE
June 18, 1999
Housing Preservation and Development Selects a Development Team for a Supermarket and Middle Income Condos in the Bradhurst section of Harlem
New York City Department of Housing Preservation and Development Commissioner Richard T. Roberts today announced that the Bradhurst Development Company, LP has been selected through a competitive Request for Proposals process to develop a full city block bounded by West 145th Street, West 144th Street, Frederick Douglass Boulevard, and Bradhurst Avenue in Manhattan in the Bradhurst Urban Renewal Area.
The new initiative will include 104 two- and three-bedroom condominium apartments for middle income buyers, 46,800 square feet of commercial/retail space, and sub-surface parking. The anchor retail tenant will be a large, value-oriented supermarket of 36,000 square feet. In addition, there will be retail space for local commercial business. The total development cost for the project is $35.4 million. The Bradhurst mixed-use site is part of HPD's ANCHOR initiative which redevelops blighted, vacant city-owned properties to stimulate economic development in communities where the public and private sectors have invested heavily in affordable housing.
HPD Commissioner Richard T. Roberts said, "This ANCHOR initiative is part of the Giuliani Administration's efforts to encourage mixed-use residential and commercial development that spur homeownership, much needed services and jobs in under-served neighborhoods like this one." Roberts added, "We were impressed with the strength of the proposals and the commitment the developers expressed to Bradhurst."
The Bradhurst Development Company, LP is a joint venture of The Related Companies, Leewood Real Estate Group, the Harlem Congregations for Community Improvement, and Salama Development and Consulting, LLC.
"Homeownership, retail, and on-site parking is the package that the community wanted on this site," said the Chairman of Community Board 10, Stanley Gleaton. "We're happy that the Harlem Congregations for Community Improvement is the community partner on the development team," he added.
A Need for Food Retailers
Bradhurst's extended neighborhood has only two supermarkets with more than 10,000 square feet of retail space for its more than 20,000 families. With limited local access to large value-oriented supermarkets, residents must pay high prices or leave the area to purchase food and other goods. Currently, the food stores in a one mile radius of the Development Site capture approximately 60% of the neighborhood's estimated supermarket purchasing power, with most of the balance - estimated at over $64 million -- going outside the neighborhood. A number of supermarket chains are interested in being the anchor tenant on the Bradhurst site, and the development team will select one in the next few months.
The Competitive Selection Process
The Bradhurst Development Company, led by The Related Companies, was one of six development teams that submitted proposals to develop this site in response to the City of New York's formal Request for Proposals last fall. The RFP was structured to incorporate design and development controls offered by Community Board 10 to enhance the design and operation of the proposed development. The proposals were judged and rated on the quality of the development proposal, financial ability and capacity, construction experience and capacity, marketing experience and plan.
The Bradhurst Neighborhood
Bradhurst has undergone a significant revitalization in recent years and has benefited from homeownership, a dramatically reduced crime rate, and a growing commercial and cultural interest in Harlem. It offers an excellent opportunity for new residential and commercial development. The City has already invested over $100 million in central Harlem which has spurred almost $250 million in other public and private funding for housing and related commercial development. Almost 3,000 affordable units of housing (a combination of rental apartments, coops, condos and homes) have been or will be completed in Community Board 10.