NYCEDC and New York City Council Announce Start of Renovations at La Marqueta Building 3
NYCEDC is Now Seeking Proposals from Tenants Interested in Using the Food Manufacturing Step-Up Space
New York City Economic Development Corporation (NYCEDC) and the New York City Council today announced the start of renovations at La Marqueta Building 3 in East Harlem, which will create food manufacturing step-up space for growing small businesses. The renovation and reactivation of the building is being funded with $2 million from the City Council Small Manufacturing Investment Fund. Located at 115th Street and Park Avenue, Building 3 is approximately 10,000 square feet. The funding will be used to provide much-needed capital upgrades to the building, create three individual commercial kitchen spaces and eight walk-in cooler spaces. Renovations are expected to take seven months to complete, with the space being ready to accept tenants by spring 2013.
“The creation of food manufacturing step-up space at La Marqueta will allow the City to build upon the success of our thriving network of business incubators,” said New York City Economic Development Corporation President Seth W. Pinsky. “Food manufacturing continues to be an important source of jobs and economic activity across the five boroughs —particularly for our City’s immigrant entrepreneurs—and this new space will provide these emerging small businesses additional opportunities to grow and expand.”
“The Council has been a longtime supporter of La Marqueta and with these renovations and new tenants, it will be an even better place for growing small businesses to thrive,” said Council Speaker Christine C. Quinn. “I’ve always seen La Marqueta as playing a critical role in the revitalization of East Harlem as a creator of good jobs and a supplier of good food. I am also happy that we are building on our previous project at the market that created affordable kitchen incubator workspace for culinary entrepreneurs through Hot Bread Kitchen Incubates. I am thrilled to see La Marqueta continue to grow into a hub of economic activity and an exciting New York City culinary attraction.”
“This latest investment in La Marqueta will help continue to revitalize this historic and cultural landmark in El Barrio/East Harlem and transform it into a true economic engine for our community,” said Council Member Melissa Mark-Viverito. “The growing food manufacturing industry presents exciting opportunities for our local entrepreneurs and job seekers. These newly renovated commercial kitchen and cooler spaces will provide an exciting companion to Hot Bread Kitchen Incubates in providing more spaces in which culinary businesses can grow and flourish. I thank Speaker Quinn and the City’s Economic Development Corporation for their continued commitment to La Marqueta and El Barrio/East Harlem.”
To find tenants, NYCEDC issued a Request for Lease Offers from growing food businesses to lease food manufacturing step-up space in Building 3. The request for lease offers is targeting small businesses looking to expand their production capacity and create jobs, as well as those that may complement the adjacent kitchen incubator at La Marqueta. The spaces available for lease will include three individual commercial kitchens ranging in size from 1,400 to 2,600 square feet and eight individual walk-in coolers ranging in size from 120 to 210 square feet. Kitchens and coolers can be rented separately or together. La Marqueta currently features a kitchen incubator and retail market in Building 4.
The creation of food manufacturing step up space at La Marqueta was first announced as one of 22 initiatives announced in June 2011, by Mayor Bloomberg, in partnership with the City Council, to revitalize, modernize, and preserve up to 9 million square feet of underutilized industrial space, create and retain up to 30,000 direct and indirect industrial jobs, and generate annual payroll earnings of more than $900 million and more than $150 million in City tax revenue. The industrial sector is an integral part of the City’s economy that has faced serious challenges in recent decades, but now offers real opportunities for growth and development. There are more than 1,000 food manufacturing firms in New York City, employing over 14,000 people.
The initiatives resulted from an inter-agency review of the City’s industrial policies, led by Deputy Mayor for Economic Development Robert K. Steel, New York City Economic Development Corporation President Seth W. Pinsky, Department of Small Business Services Commissioner Robert W. Walsh and City Planning Commissioner Amanda M. Burden. The review found that while the City’s industrial sector has been declining in line with national trends of 8 percent annually over the past 10 years, there are certain subsectors showing stability and growth. As offshoring costs increase, it is anticipated that industrial activities will continue to grow nationwide. New York City in particular offers unique location-based advantages for industrial activity, including a population of about 8.4 million, access to a large workforce and highly-skilled labor, and one of the nation’s busiest ports based on import volume. The review also found that industrial businesses in the City are challenged by a lack of building stock appropriate for modern industrial uses, higher costs, and difficulty maneuvering City processes. Industrial sectors account for 15 percent of New York City’s overall private employment and more than 23 percent of employment outside of Manhattan, and industrial jobs have a mean wage of $67,000.
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.