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PR- 228-09
May 18, 2009


City Initiates Seven-month Review Process for $310 Million Redevelopment of the Armory into Major Retail Complex, Creating 1,200 Permanent and More than 1,000 Construction Jobs

Creating Jobs and Bringing Retail Options to Areas Throughout the City is Part of the Administration’s Five Borough Economic Opportunity Plan

“The Kingsbridge Armory is one of the City’s historical treasures, but it has been long-underutilized. After years of hard work and community involvement, we are now moving forward with a plan to bring the Armory back to life – and bring new jobs and shopping opportunities to Bronx residents. In addition to specialty and local retail shops, the redevelopment of the 92-year-old building will provide a public plaza, dedicated community space, restaurants, a recreational facility and a seasonal farmers’ market. The project will create 1,200 permanent jobs and more than 1,000 construction jobs. The continued input from Kingsbridge Armory Redevelopment Task Force and Advisory Committee – made up of City representatives, local elected officials and community leaders – combined with the commitment from the developer, which is investing more than $300 million in private capital, is a great example of what can be accomplished when the public and private sector collaborate. We look forward to continuing to work with the Advisory Group, the local Community Board, the Borough President, the City Planning Commission and the City Council as the project goes through the public review process.”

The City’s Five Borough Economic Opportunity Plan is a comprehensive strategy to bring New York City through the current economic downturn as fast as possible. It focuses on three major areas: creating jobs for New Yorkers today, implementing a long-term vision for growing the city’s economy, and building affordable, attractive neighborhoods in every borough. Taken together, the initiatives that the City has launched to achieve these goals will generate thousands of jobs and put New York City on a path to economic recovery and growth. To learn more about the plan, visit Recently, the City has announced:

  • City’s Workforce1 Centers in Harlem and Jamaica received awards for innovation.
  • Food Retail Expansion to Support Health (FRESH) program to encourage grocery stores.
  • City-supported loans unavailable from banks to help small businesses stay in operation.
  • Three new Financial Empowerment Centers offering free, one-on-one financial coaching.
  • Stimulus funding to help the City provide summer jobs for 51,000 young New Yorkers.
  • The opening of New Hope Walton Project, housing for low-income residents in Harlem
  • New affordable housing at Gateway Building, a long-vacant structure in the South Bronx.
  • The Harlem Business Assistance Fund to help businesses relocate to the 125th Street area.
  • The expansion of NYC Business Express to help businesses obtain permits and licenses.
  • New international cruise activity, growing New York City’s 13,000-job cruise industry.
  • Steps to help New York City’s bioscience companies compete for Federal funding.
  • The “Nine in ’09” campaign to promote economic activity in diverse neighborhoods.
  • A Center for Economic Opportunity program put 4,000 low-income New Yorkers in jobs.
  • Stimulus-funded community development projects that will strengthen neighborhoods.
  • Stimulus-funded Housing Authority projects that will create jobs for 3,255 New Yorkers.
  • The start of construction of 103 units of affordable housing in Brownsville.
  • A plan to protect area character and expand commercial opportunities in Sunset Park.
  • The opening of Home Depot in the South Bronx creating 200 new permanent jobs.
  • Legislation that will green buildings and create 19,000 construction jobs.
  • The latest round of training funds to help small businesses train their employees.
  • The final tally of 1,673 additional jobs created at the new Yankee Stadium.
  • The placement of 50 laid-off New Yorkers into positions at entrepreneurial companies.
  • New York City achieved a record 5,000 job placements through the first quarter of 2009.
  • Help for a beer distributor to create 55 permanent and 30 construction jobs in the Bronx.
  • Green projects at the Brooklyn Navy Yard are creating more than 1,700 permanent jobs.
  • Comprehensive initiatives to support the nonprofit sector and its 490,000 jobs.
  • Federal stimulus transportation projects that will create or preserve 32,000 jobs.
  • New automated water meter readers that could help businesses retain or create 550 jobs.
  • New programs to provide training and resources for City’s future entrepreneurs.
  • Steps the City is taking to help small businesses adapt to conditions and avoid layoffs.
  • More than 50,000 New Yorkers claimed the City’s Child Care Tax Credit in its first year.
  • 11 new initiatives to support the financial services sector and promote entrepreneurship.
  • A plan for Coney Island that will create 6,000 permanent and 25,000 construction jobs.

A plan to create 400,000 jobs over the next six years in the 2009 State of the City speech.


Stu Loeser/Andrew Brent   (212) 788-2958

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