Press Releases

Browse NYCEDC’s current press releases to learn more about ongoing efforts to strengthen New York City's economy.

Current Releases

  • Statement on City Council Approval of Bedford Union Armory Redevelopment Project

    “Over the past four years, we have proudly worked with Council Member Cumbo and the Crown Heights community to redevelop a vacant armory into a center of opportunity for this neighborhood. This project will deliver an accessible world-class recreation center, 250 units of affordable housing for families earning between $25,000 and $57,000 a year, and permanently affordable space for local non-profits. We thank Council Member Cumbo for her leadership, and her City Council colleagues for voting in support of a project that will serve the needs of families and residents in Crown Heights for generations to come," said James Patchett, New York City Economic Development Corporation President.
  • NYCEDC, Borough President Adams, and Council Member Espinal Kick off Broadway Junction Working Group and Planning Study

    New York City Economic Development Corporation (NYCEDC), Brooklyn Borough President Eric L. Adams, and Council Member Raphael L. Espinal today announced the formation of the Broadway Junction Working Group and the start of an interagency planning study of the transit hub. The two efforts will work in tandem to identify ways to bring economic opportunity and new amenities to the area around Broadway Junction, informed by the vision of the surrounding community.
  • Statements on the Approval of the Bedford Union Armory Project by the City Council Land Use Committee and Planning Subcommittee

    “Today’s vote marked a major victory for the Crown Heights community. By more than doubling the number of homes that will be affordable to families with lower incomes, the de Blasio Administration is ensuring that this project is both transformative and equitable. And this world-class recreational center and space for non-profits will deliver community benefits for decades to come. We thank Council Member Cumbo for her leadership throughout this process, and for her vote to bring an even better Armory project to Crown Heights residents,” said James Patchett, President and CEO, NYCEDC.
  • New York Works: NYCEDC Launches Effort to Create Hub for New York City’s Cybersecurity Industry

    New York City Economic Development Corporation (NYCEDC) today launched its effort to position New York City as a global leader in cybersecurity jobs and innovation. The effort is part of Mayor de Blasio's Cyber NYC initiative, which will catalyze the growth of New York City's cybersecurity industry, and is a key component of Mayor de Blasio’s New York Works plan to create 100,000 good jobs over the next ten years.
  • Statement on Bronx Community Board 2’s Approval of the Spofford Juvenile Detention Center Redevelopment Project

    “Today’s approval marks a significant step toward redevelopment of the former Spofford Juvenile Detention Center into a vibrant, live-work campus in the South Bronx. The transformational project will bring 700 affordable housing units, over 150 permanent jobs, community facilities, educational space, manufacturing space, open space and more to the Hunts Point community. We're grateful for the support of the Community Board and we look forward to continuing to work with Council Member Salamanca, Borough President Ruben Diaz Jr., Hunts Point residents and our development partners to bring this project to fruition,” said Anthony Hogrebe, Senior Vice President of Public Affairs.


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