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Site Could Provide 85,000 Square Feet of New Residential, Community, and Retail Space
New York City Economic Development Corporation (NYCEDC) today issued a Request for Expressions of Interest (RFEI) for the redevelopment of a 13,500-square-foot site located at 2040 Frederick Douglas Boulevard, at the northwest corner of Central Park, in Harlem. The RFEI is the first step towards determining what ideas developers have to potentially transform the site with new residential or community facility space that could complement the existing neighborhood. The site is currently used as a gas station, but has the potential to be redeveloped with as much as 85,000 square feet of new residential, community and retail space.
“The redevelopment of this site could offer a unique opportunity to enhance the surrounding community while also increasing economic activity throughout the entire area,” said New York City Economic Development Corporation President Seth W. Pinsky. “By allowing us to explore what type of development is feasible at this site, this RFEI will provide us with the insights we need to determine what steps we may take going forward at this critical location.”
Located on the corner of 110th Street and Frederick Douglas Boulevard the site offers a unique opportunity to develop one of the few remaining underutilized properties along Central Park. The goals of the RFEI include providing quality jobs for local residents and maximizing the benefit to the community by incorporating one or more of the following uses in the development: affordable housing, a not-for-profit community facility space of at least 8,000 square feet, and/or a portion of the retail space to be made available at an affordable price to the current owner. The City does not own the site currently, but does have the right to reacquire the site for the purpose of economic development as part of its negotiated deed of sale to the existing owner in 1996.
To obtain a copy of the RFEI, please visit: www.nycedc.com/rfei. Responses are due no later than August 10, 2012.
New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.