The city Economic Development Corporation is kicking in $10 million — the first grant given out by the city's new Industrial Developer Fund, which aims to rev up the city's struggling manufacturing sector.
The project, built by the nonprofit Greenpoint Manufacturing and Design Center, is expected to cost $37 million.
GMDC is hoping to begin work in June 2017 with a goal of opening in September 2018.
The modern workspace at 94-15 100th Street will be equipped with new freight elevators and tenants will get a 10% discount off regular market rents — as the high-tech building will be partially fueled by solar power.
Currently, the site is home to Worksman Cycles, a bicycle and cart manufacturer. The company recently expanded its assembly operations to South Carolina so doesn't need all of the space.
"Now more than ever, we must ensure that our economy is diverse, equitable and provides opportunity for all New Yorkers. Supporting the industrial sector is critical to that effort," said EDC President Maria Torres-Springer.
She also said the fund would "help create affordable space for small industrial businesses so that they can create good paying jobs in neighborhoods across the city."
Since 1992, GMDC has rehabilitated seven industrial buildings in New York City to provide affordable, flexible production space for small and medium-sized manufacturers ranging from custom woodworkers, set builders and metal workers to home goods manufacturers.
The new space will support around 80 workers, each making an estimated average of $51, 500 per year, consistent with tenants in other GMDC-developed sites.
The $150 million developer fund was launched last year as part of a plan by Mayor de Blasio and the City Council that also included beefing up protections for manufacturing businesses in industrial zones.
The fund aims to create 1,200 jobs and 400,000 square feet of industrial space by the year 2020, officials said.
Visit Our Sponsors
Page Views
Since October 1, 2011
No comments:
Post a Comment