NYCEDC Announces Grand Opening of Broadway Plaza Retail Development in the Bronx
Development at Broadway Plaza Creates Approximately 200 New Full and Part-Time Jobs in the Riverdale/Kingsbridge Sections of the Bronx
New York City Economic Development Corporation (NYCEDC) today announced the grand opening of the 133,000 square foot Broadway Plaza retail development, already creating approximately 200 new full and part-time jobs in the Riverdale/Kingsbridge sections of the Bronx. The two-story development, which activates an 80,000 square foot parcel, represents a private investment of approximately $54 million into the area from the developer, Equity One, in order to build the facility and accompanying covered parking spaces on 230th Street between Broadway and the Major Deegan Expressway. Anchor tenants include TJ Maxx, Sports Authority, Party City and Aldi, and additional space for lease is expected to create another 100 full and part time jobs in the coming months. The project cements Broadway as a vibrant corridor in Kingsbridge and Riverdale, connecting the retail options both north and south of the project site and fulfilling the vision long held for the parcel. The grand opening was celebrated at a ribbon cutting ceremony this morning with NYCEDC President Kyle Kimball, Equity One Executive Vice President Michael Berfield, Bronx Overall Economic Development Corporation President Marlene Cintron, Congressman Eliot Engel, Councilmember Andrew Cohen, Senator Gustavo Rivera, Assemblyman Jeffrey Dinowitz and Community Board 8 Chairperson Dan Padernacht.
“Broadway Plaza brings 200 local jobs and millions in private investment to the Kingsbridge and Riverdale sections of the Bronx, activating an underutilized site and giving the community the commercial options that have long been envisioned,” said NYCEDC President Kyle Kimball. “By providing new retail to build upon the existing commercial corridor, we are helping to ensure the community can increasingly shop in their neighborhood -- spending locally and strengthening the area's economic engine.”
“We are thrilled to celebrate the opening of Broadway Plaza. Equity One’s mission is to improve retail real estate in urban communities and I can think of no better example than this shopping center,” said David Lukes, CEO of Equity One. “A project like this is not possible without good partners and we were fortunate to be able to work with NYCEDC, the Bronx Borough President’s Office, and all of the other local elected officials and community board members to help make this development a reality.”
To fill the jobs generated by the project, Equity One utilized NYCEDC’s HireNYC program to create a targeted local hiring plan. Approximately 75 percent of employees hired are Bronx residents, and 100 percent of employees hired are New York City residents. HireNYC is a free City program that connects the City's workforce development services to economic development projects to provide job access to local, low-income New York City residents. NYCEDC worked in partnership with the Department of Small Business Services and the Bronx Workforce1 Career Center to source and screen local candidates for the available positions.
“The Bronx is booming, and economic development is a big reason why,” said United States Congressman Eliot Engel. “The opening of the 133,000 square foot Broadway Plaza will create approximately 200 full and part-time jobs, and bring a variety of wonderful new shopping options to the area. I applaud the work done by the NYCEDC to promote economic growth in the Bronx and I am certain that with a strong public and private partnership we will be able to continue the positive economic trends in the borough.”
"The opening of Broadway Plaza marks a positive change for the North West Bronx,” said Councilmember Andrew Cohen. “What was once an unused parking lot has now been developed into a shopping center that can be used by the entire community. With tenants like TJ Maxx, Sports Authority, Party City and Aldi, there is a place for residents of all ages to shop for what they need without having to travel outside of the neighborhood."
"Broadway Plaza Retail is a fitting and welcome addition to the Riverdale/Kingsbridge section of the Bronx,” said State Senate Co-Leader Jeff Klein. “The development is a win-win for the residents of the area, providing not only premier retailers but hundreds of good jobs for the community. As the holiday season rapidly approaches the timing of the grand opening of this new economic generator for the borough could not be better.”
“The opening of the Broadway Plaza Retail Development is one more example of how the Bronx continues to secure and implement opportunities that foster greater economic development in the borough and a better quality of life for its residents,” said State Senator Gustavo Rivera. “I commend the New York City Economic Development Corporation and Equity One for working to ensure that this project not only creates a vibrant retail section our neighborhood can be proud of, but also new employment opportunities for Bronxites.”
“Today, we celebrate a new beginning for the property on West 230th Street and Broadway now called Broadway Plaza,” said State Assemblyman Jeffrey Dinowitz. “Over a decade ago, when the space was a scarcely-utilized parking lot, I was the first to advocate for a commercial center that would create jobs and serve the needs of our growing community. I am pleased that local elected officials and community members came together to support this much-needed shopping center in the Northwest Bronx, and that the majority of jobs that this project creates will go to Bronx residents."
“The new jobs and convenient shopping choices brought by Broadway Plaza are a positive addition to our community,” said Bronx Community Board 8 Chairperson Dan Padernacht.
Equity One purchased the site from the City in June 2012. It was selected to redevelop the site based on its response to a Request for Proposals issued in August 2011. The development is LEED certified.
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.
About Equity One
As of June 30, 2014, our consolidated shopping center portfolio comprised 135 properties, including 113 retail properties and six non-retail properties totaling approximately 14.6 million square feet of gross leasable area, or GLA, 11 development or redevelopment properties with approximately 1.8 million square feet of GLA upon completion, and five land parcels. As of June 30, 2014, our consolidated shopping center occupancy was 94.2% and included national, regional and local tenants. Additionally, we had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.2 million square feet of GLA.