James Patchett, who served as Deputy Mayor Alicia Glen’s chief of staff and was a key advisor to the mayor on housing and economic development, becomes president and CEO of NYCEDC.
NYCEDC, in partnership with HPD and HDC, releases plans to transform an NYPD parking garage in Jamaica, Queens into an approximately 450,000-square-foot mixed-use development. The project will create over 350 affordable apartments, a community facility, retail space, and below-grade parking. Additionally, the project is expected to create at least 250 permanent and 300 construction jobs.
Using documentary-style video, print, social media, and web content, NYCEDC highlights four unique Made in NY: Fashion designers. Their stories appear on bus shelters and newsstands citywide, and the campaign encourages more New York City–based designers to become part of the Made in NY: Fashion community.
Currently underutilized Sunset Park buildings will soon become a hub for garment manufacturing and film and television production through a $136 million investment in the Made in NY campus at Bush Terminal. Renovations will create modern garment manufacturing spaces, sound stages, production spaces, and more. The project will support more than 1,500 permanent jobs and over 800 construction jobs.
The former P.C. Richard & Son building will be redeveloped into a hub for workforce development and technology and innovation programming. In addition to serving as Civic Hall’s new home, the hub will include a digital job training facility for all New Yorkers and modern, flexible workspaces designed to meet the unique needs of early-stage startups, and it will generate 600 good-paying jobs. Credit: Davis Brody Bond, LLP
Working collaboratively with the New York City Council Speaker’s office and a community task force, NYCEDC is redeveloping the former MTA bus depot in East Harlem. This mixed-use redevelopment project requires that 20 percent of the site’s residential units be affordable housing, creates a permanent memorial honoring the historic African Burial Ground, and provides public open spaces and new jobs.
Recognizing the need to support graduates’ transition from education to career, NYCEDC and the Council of Fashion Designers of America are partnering to create the Fashion Future Graduate Showcase, a physical and digital exhibition of up to 100 top fashion graduates from leading New York colleges and universities, as well as two additional design institutions. Credit: Andy Swartz. Designer: Aastha Shah
Almost $80 million in projects are in the pipeline to be awarded to McKissack and McKissack, Noble Strategy, and Armand, three minority- or women-owned construction management firms. “By awarding nearly $80 million in projects to M/WBE construction management firms, NYCEDC is doubling down on our commitment to level the economic playing field,” said NYCEDC President and CEO James Patchett.
NYCEDC’s Digital Health Marketplace is partnering with Health 2.0 to award $250,000 to help growth-stage health tech startups pilot their technologies in health care institutions. Over three cycles of the program, Digital Health Marketplace alumni have created over 140 jobs and raised over $195 million in venture capital funding.
Adding an additional 39,000 private jobs in January, citywide unemployment drops to a low of 4.5 percent in January 2017—the lowest rate since 1976. It continues to drop for two more consecutive months, hitting a record low of 4 percent in March.
The City plans to build a new esplanade between East 61st Street and East 53rd Street. This major investment marks an important step forward in completing the vision of a contiguous 32-mile waterfront pedestrian promenade and bicycling path around the whole of Manhattan.
The new mixed-use redevelopment of the Flatbush Caton Market will revitalize a City-owned Caribbean market; create 250 units of 100 percent affordable housing; and provide a new space for the Caribbean American Chamber of Commerce and Industry, community space, and a commercial kitchen.
Urban Tech Hub, created by NYCEDC in partnership with New Lab, aims to solve critical urban challenges through tech-based solutions. The initiative has an inaugural cohort of 14 companies dedicated to addressing issues in agriculture, alternative energy, transportation, communication, the built environment, and safety.
The city’s new ferry service launches a month ahead of schedule, offering New Yorkers new routes around the city at the same price as a subway ride. The Rockaway and East River routes are the first to set sail.
NYCxDESIGN, now in its fifth year, is the City’s official celebration of design from around the world. Recognizing the importance of the design sector, which has experienced 27.6 percent growth in employment over the last 10 years, the event offers an expanded program, including hundreds of events taking place throughout the five boroughs.
A former West Side slaughterhouse is being transformed into 230 units of affordable housing, 200,000 square feet of commercial office space, a 12,000-square-foot grocery store, over 88,000 square feet of dormitory space, and more than 28,000 square feet of amenity space that will include a health club and food court.
The opening of Kitchen 21, a new five-concept restaurant on the Coney Island Boardwalk, creates 138 new jobs, with almost 75 percent going to Brooklyn residents. The restaurant’s concepts include a rooftop wine bar, test kitchen, grab-and-go café, fresh seafood restaurant, and gastropub with 32 beers on tap. Credit: Jim McDonnell
The action plan, the first ever released by the Metropolitan Rail Freight Council, addresses challenges facing the local rail freight industry and offers guidance on increasing freight capacity and optimizing freight networks.
The first recipient of the Emerging Developer Loan Fund is 1193 Fulton Avenue Residence LLC. At nearly 21,000 square feet, the project offers 25 units of 100 percent affordable housing, including eight units for formerly homeless veterans, in the Morrisania section of the Bronx.
Ports America is selected to operate Manhattan and Brooklyn Cruise Terminals through 2029. As part of the agreement, the organization will invest $38.5 million in capital improvements across the terminals, strengthening the city’s position as a premiere cruise port.
The Futureworks NYC initiative, which supports growth in the advanced manufacturing sector, will activate a series of partner programs to increase access to advanced manufacturing technology, support startups, and help traditional manufacturing companies implement new technologies to help them remain competitive.
In a move designed to create much-needed office space around the city’s emerging and potential business districts, City agencies will serve as anchor tenants for new commercial developments in targeted neighborhoods. The City’s Human Resources Administration will be the first mover, occupying 250,000 square feet of office space in a future development.
The food hub at the Brooklyn Army Terminal Annex building dedicates 55,000 square feet to food manufacturing companies. The first tenants are:
  • City Saucery, a sauce and condiment company inspired by Calabria, Italy
  • Salty Road, a salt water taffy company featuring unique flavors and natural ingredients
  • MOMO Dressing, a family-owned Japanese salad dressing company
  • The Konery, which makes artisanal waffle cones
Mayor de Blasio’s administration, in partnership with NYCEDC, is launching 25 initiatives to spur 100,000 jobs with good wages over the coming decade. This investment has a particular emphasis on cybersecurity; life sciences and health care; industrial and manufacturing; and the creative and cultural sectors. Credit: Mayoral Photography Office
New York City funding will enable NYC Daylighting—a RISE : NYC–winning technology that reduces reliance on electricity by utilizing passive sunlight–transferring skylights to install their technology in a total of 30 Superstorm Sandy–impacted small businesses, strengthening this vital part of the city’s economy. Credit: NYC Daylighting
[email protected], a center for life science startups, is the first to receive a grant from the mayor’s LifeSci NYC Incubator Network. An estimated 1,000 jobs will be created by companies grown at [email protected] in the coming decade; this represents just one of the City’s 25 initiatives that will collectively spur 100,000 good-paying jobs over the next 10 years.
NYCEDC and Health 2.0, a digital health media company, announce seven winning pilots of the Digital Health Marketplace, which is part of the mayor’s New York Works plan. An anticipated 6,000 New Yorkers’ health outlooks will be improved through the Digital Health Marketplace’s pilots, and over 1,000 good-paying jobs will be created through the Digital Health Marketplace expansion.
The world’s first fully electric single-seater racecars arrive at Brooklyn Cruise Terminal, ahead of the first-ever New York City ePrix on July 15 and 16.
ArtBuilt Brooklyn, a nonprofit arts organization, will bring 50,000 square feet of affordable studios and art-based business space to Sunset Park. With spaces ranging from 250 to 4,000 square feet, the project will support up to 50 tenants, including fine artists, woodworkers, and theatrical set designers/builders.
One Willoughby Square will bring over 380,000 square feet of commercial space to Downtown Brooklyn, including ground-floor retail, and over 300 school seats. This project is expected to create over 1,100 permanent jobs and over 1,000 construction jobs.
In less than three months, NYC Ferry has already served one million riders. The East River route boasts the highest ridership, with more than 625,000 riders, and weekday ridership across NYC Ferry ranges from 8,000 to 12,000 riders. Building on this momentum, NYC Ferry is adding capacity to its 20 boats, introducing larger vessels that will each hold up to 249 passengers.
The project will transform portions of the Long Island City waterfront into a mixed-use space combining offices, 250 units of affordable housing, a new 600-seat school, workforce training programs, 25,000 square feet of art space, more than an acre of open space, and ground-floor retail. Development of the project is expected to create 1,500 permanent jobs and more than 2,500 construction jobs.
NYCEDC, working with trade show organizer Emerald Expositions, is planning the first large-scale virtual reality/augmented reality conference and expo in the city, a signal of New York City’s growing VR/AR industry. Additionally, a City-backed lab will support emerging VR/AR companies and entrepreneurs within the five boroughs and is expected to create over 500 good jobs in the next decade. Credit: NYU Tandon School of Engineering
Downtown Far Rockaway has not seen major City investment in over half a century, and this $288 million commitment will bring new commercial space and small business support, affordable housing options, open space, new connectivity to transit, improved infrastructure, and community facilities to the area.
A long-vacant site in the Lower Concourse section of the Bronx will be converted into Bronx Point, the first mixed-used development of its kind on the Harlem River. The development will include world-class public open spaces with a waterfront esplanade, approximately 1,000 units of housing, a home for the Universal Hip Hop Museum, a multiplex theater, community space, educational programming, a neighborhood food hall and incubator, and more.
Corporate Commons Three, a planned 330,000-square-foot office building on the Teleport Campus in Staten Island, will create 2,500 new jobs. The LEED-certified Class A office building will reserve 20 percent of its space for medical office tenants. Credit: The Nicotra Group, LLC
The Saw Mill Creek Pilot Wetland Mitigation Bank will spur public and private funding for large-scale wetland restoration. The pilot aims to protect and enhance over 50 acres of the city’s wetlands; it will create hundreds of jobs and revitalize the city’s waterfront, while accelerating future development projects. The restoration will generate “credits” of required mitigation that can be used to offset impacts of waterfront construction projects.
Several iconic New York City buildings—including the Empire State Building and One World Trade—as well as LinkNYC screens, lit up in “Amazon Orange” in support of the City’s official bid for Amazon’s second headquarters, which is expected to bring 50,000 good-paying jobs and an investment of over $5 billion to the selected city.
NYCEDC seeks proposals from industry and academia to establish the city’s first cybersecurity accelerator, grow a talent pipeline, and fuel the commercialization of academic innovations. This is a major step in the de Blasio administration’s $30 million investment to support cybersecurity R&D and create 10,000 high-quality jobs.
The redevelopment of the Bedford Union Armory in Crown Heights will create 415 apartments, including 250 units of low-income housing, a community recreation center, and space for nonprofits.
Essex Street Market, which provides quality, affordable space to a diverse mix of food companies on the Lower East Side, welcomes vendors to its new location, set to open in 2018:
  • Chinatown Ice Cream Factory, a multigenerational, family-owned business serving up such flavors as black sesame and durian ice cream
  • Essex Shambles, an old-fashioned butcher shop serving locally sourced meats and poultry
  • Zerza, a new fast-casual eatery featuring Moroccan recipes made with whole-food, plant-based ingredients
Mayor Bill de Blasio and Speaker Melissa Mark-Viverito, in partnership with NYCEDC, announce the capital investment, which will develop a new seven block–long, seven-acre park. The park will feature bicycle and pedestrian paths and will connect East Harlem residents with the Manhattan Greenway.

New York City Economic Development Corporation is dedicated to making the city's economy dynamic, equitable, and sustainable, and we look forward to another year of creating good jobs and strong neighborhoods in 2018.