Bloomberg Administration Announces Two New Bronx Development Deals

The Bloomberg administration trumpeted two Bronx development deals this week that will create 300 permanent jobs and 600 construction jobs. The New York City Economic Development Corp. will reveal on Thursday that CJSA Realty LLC will redevelop a 100,000-square-foot Zerega plot as the new headquarters for an ambulette company. The agency announced on Tuesday that it had selected Equity One, Inc. to redevelop an 80,000-square-foot site in Kingsbridge as a shopping center.

NYCEDC Development Will Create 100 Construction Jobs and 50 Permanent Jobs in Bronx

The New York City Economic Development Corporation announced the selection of CJSA Realty LLC to redevelop a vacant 100,000-square-foot site located at 535-537 Zerega Avenue in the Bronx. CJSA plans to construct a new 31,000-square-foot facility on the property to be used as the new company headquarters and vehicle repair facility for D-J Ambulette, creating 100 construction jobs.

D-J Ambulette will use the site to expand its operations, creating 50 new permanent jobs—in addition to its current workforce of 238 employees—and 100 construction jobs. The reactivation of vacant and underutilized industrial property is a key component of City’s recently announced 22 initiatives to strengthen the industrial sector and help small industrial businesses stay and grow in New York City.

CJSA was selected to redevelop the site based on their response to an RFP issued in fall 2010. The development still must receive all necessary public approvals before proceeding. Pending approvals, construction is expected to commence early in 2013, and be completed in 2014.

CJSA plans to purchase the site from the City for $1.2 million. The development intends to seek LEED silver rating.

Equity One Selected To Build New Shopping Center in Bronx

The New York City Economic Development Corporation announced the selection of Equity One, Inc. to redevelop an 80,000 s/f site located along the Broadway retail corridor in the Kingsbridge section of the Bronx. The project is expected to create over 250 new full and part-time jobs and approximately 500 construction jobs.

Equity One plans to invest approximately $54 million to construct a new 133,000 s/f, two-story shopping center with 130 covered parking spaces on the site, located on 230th Street, between Broadway and the Major Deegan Expressway.

The developer will purchase the site from the City for $7.5 million, with construction expected to commence around early 2013 and be completed within two years.

Equity One was ultimately selected to redevelop the site based on its response to an RFP issued in August 2011. The development intends to seek at least LEED silver rating.