Historic armory to become retail center, complete with movie theaters and restaurants. On April 21, 2008, the City selected Related Companies to convert the Kingsbridge Armory, a City landmark located on the corner of 195th Street and Jerome Avenue in the Bronx, into a $310 million shopping center. The center will include a large department store, up to 35 smaller shops, a movie theater, and restaurants.
The Armory features two battlement towers, Romanesque arches, and … <Read More>
City seeks to create a Special Willets Point District; local businesses file lawsuit. On April 21, 2008, the New York City Economic Development Corporation and the New York City Department of Housing Preservation and Development began public consideration for their proposal to rezone a 61-acre area in Willets Point.
The area, roughly bounded by the Van Wyck Expressway, Roosevelt Avenue, 126th Street, and Northern Boulevard, is known as the “Iron Triangle” for its predominantly industrial … <Read More>
Resolution would call on Albany to create green roof tax incentive. The City Council’s Finance Committee heard public testimony on November 29, 2007 on a resolution that would request the State Legislature to amend the New York State Real Property Tax Law and establish a tax exemption incentive for property-owners to equip their buildings with green roofs.
The resolution, sponsored by Council Member Oliver G. Koppell, seeks to encourage the use of green roofs in … <Read More>
Proposal would increase fines for illegal conversions of residences into hotels. On December 3, 2007, the City Council’s Committee on Housing and Buildings held a public hearing on a proposal to increase fines on building owners who illegally convert residential units, especially rent-regulated ones, into hotel units.
Council Member Gail Brewer sponsored … <Read More>
IDA also approves tax -exempt bonds for 2 health care entities and 1 private school. On October 9, 2007, the New York City Industrial Development Agency voted to provide financial assistance to four entities.
IDA awarded the Bronx Parking Development Company $225 million in tax-exempt bonds to finance the design, construction, and renovation of three new parking garages, two existing garages and six surface lots that would serve the new Yankee Stadium. According to IDA, … <Read More>
DEP agrees to work with local community to address its concerns. On September 10, 2007, the City Council approved the Department of Environmental Protection’s plan to expand its water treatment plant in the Hunts Point section of the Bronx. Under the plan, DEP will construct two, 130-foot tall, eggshaped digester buildings, which … <Read More>