Groundbreaking for Retail Development at Broadway Plaza in the Bronx
NYCEDC and Bronx Borough President Ruben Diaz, Jr. announced the groundbreaking of a 133,000-square-foot retail development at Broadway Plaza in the Bronx, which will activate an approximately 80,000-square-foot site located along the Broadway retail corridor. The developer, Equity One, plans to invest approximately $54 million to construct the two-story, multi-tenant retail development and approximately 130 covered parking spaces that will make up the site, which is located on 230th Street between Broadway and the Major Deegan Expressway. The project is expected to create over 250 new full and part-time jobs and approximately 500 construction jobs.
“Broadway Plaza will add hundreds of jobs to the Riverdale/Kingsbridge community and provide this neighborhood with newer and even more retail options. This development will help ensure that the Broadway corridor here in the Bronx will continue to thrive into the future.” - NYCEDC COO Zachary Smith
Equity One is currently in the process of leasing the development and is in negotiations with several prominent national retailers. The developer purchased the site from the City in June 2012 and expects the center to open in the fall of 2014. Equity One was selected to redevelop the site based on its response to a Request for Proposals issued in August 2011. The development intends to be LEED certified.
In addition to creating hundreds of new permanent construction jobs, as part of its development, Equity One has committed to use New York City Economic Development Corporation’s HireNYC program to create a targeted local hiring plan to fill the jobs generated by the project. HireNYC is a free City program that connects the City's workforce development services to economic development projects.
Equity One is making significant efforts to ensure that both minority and women owned firms, as well as Bronx-based firms, are part of the construction team. They also plan to work with tenants to facilitate the hiring of Bronx residents for the permanent jobs that the project will create, ensuring that the development will provide the area with an economic boost that will assist residents and attract visitors.