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New York City Economic Development Corporation and Borough President Diaz Announce Groundbreaking for 133,000 Square Foot Retail Development at Broadway Plaza in the Bronx

Project Will Create Approximately 500 Construction Jobs and Retail Development Will Create More Than 250 New Full and Part-Time Jobs

New York City, June 10, 2013 – New York City Economic Development Corporation (NYCEDC) and Bronx Borough President Ruben Diaz, Jr. today announced the groundbreaking of the 133,000 square foot retail development at Broadway Plaza in the Bronx, which will activate an approximately 80,000 square foot site located along the Broadway retail corridor.  The developer, Equity One, plans to invest approximately $54 million to construct the two-story, multi-tenant retail development and approximately 130 covered parking spaces that will make up the site, which is located on 230th Street between Broadway and the Major Deegan Expressway.  The project is expected to create over 250 new full and part-time jobs and approximately 500 construction jobs.

“Broadway Plaza will add hundreds of jobs to the Riverdale/Kingsbridge community and provide this neighborhood with newer and even more retail options,” said NYCEDC COO Zachary Smith.  “This development will help ensure that the Broadway corridor here in the Bronx will continue to thrive into the future.”

"This project will serve as a major new hub of activity for the entire Kingsbridge community, bringing new traffic -- and new customers -- to this important commercial district," said Bronx Borough President Ruben Diaz Jr.  "I am pleased that, after so many years of inactivity, this site is well on its way to fulfilling its promise as a generator of commerce and customers for the northwest Bronx."

“We are thrilled to be under construction on our Broadway Plaza project,” said Equity One CEO Jeffrey Olson.  “When it is completed, it will be a wonderful addition to this community both as a generator for economic development and as a shopping destination and amenity for the residents.  We are so appreciative of the efforts of all of the elected officials and the New York City Economic Development Corporation, who helped to make this project a reality.”

Equity One is currently in the process of leasing the development and is in negotiations with several prominent national retailers.  The developer purchased the site from the City in June 2012 and expects the center to open in the fall of 2014.  Equity One was selected to redevelop the site based on its response to a Request for Proposals issued in August 2011.  The development intends to be LEED certified.

“This development is further proof that the Bronx, and especially the Northwest Bronx, is back and better than ever," said Congressman Eliot Engel.  "The construction will bring immediate jobs, and when completed, the stores will bring more jobs and an economic blooming.  We are lighting up the neighborhood and now everyone will see that the Northwest Bronx has more to offer.”

"This groundbreaking is the culmination of years of hard work by many people," said Assemblyman Jeffrey Dinowitz.  "I first started advocating for the construction of a shopping mall at this site back in 2001 and have worked since then to make this dream a reality.  Broadway Plaza will not only bring hundreds of new jobs to our community, it will also be a key component of the continuing revitalization of the Broadway corridor running from West 225th Street to West 238th Street.  This revitalization not only benefits the Kingsbridge and Marble Hill communities, but all of the surrounding neighborhoods and the entire Bronx.  I prefer shopping in the Bronx instead of going to Westchester or Manhattan.  The new stores at Broadway Plaza will keep more shoppers right here in the Bronx.  It's a great day for the Bronx."

“The Broadway Plaza will give a major boost to the 231st Street shopping area," said Council Member Oliver Koppell.  "I have been working for over ten years to see this development realized.  Today is a great day for Kingsbridge.”

"Community Board 8 is proud to have played a role in making this exciting retail complex a reality,” said Robert Fanuzzi, Chair of Community Board 8.  “Equity One is already a part of our community, and we look forward to working with them to bring great stores and local jobs to our area."

In addition to creating hundreds of new permanent construction jobs, as part of its development, Equity One has committed to use New York City Economic Development Corporation’s HireNYC program to create a targeted local hiring plan to fill the jobs generated by the project.  HireNYC is a free City program that connects the City's workforce development services to economic development projects.

Equity One is making significant efforts to ensure that both minority and women owned firms, as well as Bronx-based firms, are part of the construction team.  They also plan to work with tenants to facilitate the hiring of Bronx residents for the permanent jobs that the project will create, ensuring that the development will provide the area with an economic boost that will assist residents and attract visitors.

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