It's been a long time coming, but Kingsbridge Armory, which has been vacant for nearly three decades in the Bronx, is set to finally go under redevelopment and transform into a mixed-use site.
8th Regiment Partners LLC, a joint venture between Maddd Equities LLC and Joy Construction Corp. has been chosen to lead the efforts on the project, for which the city has been seeking proposals since the latter portion of 2023.
The new plan for the site, dubbed El Centro Kingsbridge, will be getting $215 million in support. Most of the funding comes from the city and the state, which are both providing $200 million for the redevelopment. Council member Pierina Sanchez is investing $12 million, Bronx borough President Vanessa Gibson is sending $2 million, and the federal government is issuing a $1.05 million grant.
El Centro is expected to result in a $2.6 billion economic impact through the next three decades and create 360 permanent employment opportunities and 3,000 construction jobs, according to the city.
“After a competitive selection process, we are thrilled to announce 8th Regiment Partners as our partner to redevelop the historic Kingsbridge Armory,” said New York City Economic Development Corporation President and CEO Andrew Kimball.
“8th Regiment Partners’ proposal embraced the community’s vision plan for the Armory and demonstrated through their thoughtful design, programmatic uses, and financial viability that, in partnership with the city and state, they can finally deliver the economic engine and community amenities that the Bronx wants and deserves."
The first phase of the development will create more than 25,000 square feet of community space, sports fields, event venue space, an education facility, as well as cultural and commercial space. The next phase will provide 450 "permanently" affordable housing units.
The 570,000-square-foot building was last used by the National Guard in 1996.
“For decades, Bronx residents have been promised a new Kingsbridge Armory — and we’re partnering with the city to finally get the job done,” Gov. Kathy Hochul said.
“This transformative project will unite communities across the Bronx, provide spaces for recreation and academics, and deliver much-needed affordable housing.”
The city said that the environmental review process is anticipated to kick off this winter, with the uniform land use review set for the middle of this year.