New York Observer
A big-time private investment will bring two new commercial developments to a stretch of West 125th Street that could include the first brewery in Harlem since Prohibition.
The city’s Economic Development Corporation announced today that it has tapped both Janus Partners and Monadnock Construction for the former Taystee Bakery Complex project, while 125th Street Equities was selected to redevelop the Corn Exchange Building. Together, the sites comprise 350,000 square feet.
“We rezoned 125th Street to strengthen the famed Harlem corridor and enhance its historic role as a vibrant arts, entertainment and retail center,” said Mayor Michael Bloomberg in a news release. “The private sector commitments represent an enormous vote of confidence in Harlem’s future and 125th Street’s ongoing role in the area’s revitalization.”
The developments are expected to create 530 permanent jobs and 570 construction jobs, according to the city. The 328,000-square-foot Taystee Bakery Complex will become CREATE @ Harlem, a commercial and industrial space for creative industry tenants, and the Corn Exchange Building project will add 31,000 square feet of office and retail space to the Harlem corridor.
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