In February 2005, NYCEDC closed on the sale of a 42-acre site to Charleston Enterprises, LLC, an affiliate of Blumenfeld Development Group, to develop the Bricktown Centre at Charleston.
The new retail center brings national retailers Home Depot, Target, and Bed Bath & Beyond to a previously underserved southern Staten Island retail market. Bricktown Centre at Charleston is expected to recapture some sales tax revenues lost to the New Jersey retail market, generating approximately $76 million in tax revenues over 25 years.
The project involves more than $100 million in private investment, including $15 million to the City for the site acquisition.
Charleston Enterprises, LLC also committed $16 million in on-site and off-site infrastructure improvements that will include the following:
- A16-foot wide greenway with bicycle and pedestrian path
- Additional landscaping
- Storm water control devices
- Traffic signals and access roads
Development of Bricktown Centre at Charleston is expected to create more than 630 construction jobs and 550 permanent jobs.