Kingsbridge Armory Redevelopment Announced in Bronx

The New York City Economic Development Corporation has selected a joint venture, 8th Regiment Partners LLC, comprising Maddd Equities and Joy Construction, to redevelop the long-vacant Kingsbridge Armory in the Bronx into 'El Centro Kingsbridge.' This ambitious project aims to create a mixed-use space that includes a state-of-the-art event venue, sports fields, community spaces, an educational facility, and 450 units of affordable housing, with an estimated economic impact of nearly $2.6 billion over the next 30 years. Construction is expected to begin in 2027 and finish by 2032, generating over 3,000 construction jobs and 360 permanent positions. Despite previous failed attempts at redevelopment, the current project has garnered hope, although concerns remain due to Joy Construction's past safety record. Community leaders expressed cautious optimism but noted the absence of local vendor spaces in the selected proposal compared to an alternative submission from a nonprofit coalition. The project is set to receive $200 million in funding from city and state sources, alongside additional financial backing.