New York City has been awarded $55 million in New Markets Tax Credits (NMTC) from the U.S. Department of Treasury. The credits will be allocated to the New York City Neighborhood Capital Corporation (NYCNCC), a community development entity administered by NYCEDC. The $55 million NMTC allocation provides an exciting opportunity to leverage private investment and provide low-cost financing to advance community-focused real estate development projects, create jobs, and strengthen historically underserved areas throughout the City of New York.
Officials from Hornblower and NYCEDC toured the Horizon Shipyard facility and received an update on construction, which is on schedule, and inspected the first completed citywide ferry superstructure. Completion of the superstructure marks a significant milestone in what will become New York City’s first citywide ferry service and one of the largest commuter ferry operations in the United States.
Supported by the de Blasio Administration, Borough President Katz, Council Member Donovan Richards, the U.S. Health Resources and Services Administration and other partners, the health center will expand its current 22,000 square foot facility to an adjacent City-owned parcel, where it will build over 20,000 square feet of new healthcare space. NYCEDC and the Addabbo Family Health Center recently closed on the sale of the long-vacant site.
New York City Economic Development Corporation (NYCEDC) today released details for the Rockaway Shuttle, a free bus service that will connect residents with the Citywide Ferry Service launching in summer 2017. The eastbound and westbound shuttle routes each span four miles, connecting the ferry terminal at Beach 108th Street with Beach 35th Street to the east, and Beach 169th Street to the west.
New York City Economic Development Corporation (NYCEDC) and the Department of Housing Preservation and Development (HPD) today announced plans to transform the former Spofford Juvenile Detention Center in the Hunts Point section of the Bronx into a 5-acre campus featuring 100% affordable housing, good jobs, and recreational space.
New York City Economic Development Corporation (NYCEDC) today announced the beginning of program-wide implementation for RISE : NYC (Resiliency Innovations for a Stronger Economy), a technology innovation program that provides assistance to Hurricane Sandy-impacted small businesses.
Through RISE : NYC, eleven different innovative technology systems will be implemented in Hurricane Sandy-impacted small businesses across the five boroughs to help them prepare for future storms, sea level rise and other effects of climate change. The resiliency solutions include energy technologies, building systems and resilient telecommunication networks.
NYCEDC today announced the beginning of program-wide implementation for RISE : NYC (Resiliency Innovations for a Stronger Economy), a technology innovation program that provides assistance to Hurricane Sandy-impacted small businesses.
New York City Economic Development Corporation (NYCEDC) and the Mayor’s Office of Recovery and Resiliency (ORR) today released a newly updated Citywide Waterfront Inspection Guidelines Manual, a valuable resource that outlines standard operating procedures for inspecting City-owned coastal and waterfront assets. The updated manual, originally published in 1999, includes refined criteria, new standards to reflect current environmental conditions and includes new soft infrastructure asset types such as marshes.
The New York City Economic Development Corporation (NYCEDC) today announced the selection of Bartlett Dairy and Food Service, a family-run local business, to develop a 56,000 square foot distribution and manufacturing center on a significant portion of the John F. Kennedy (JFK) North Site, one of the largest city-owned manufacturing zoned properties.