Will Create 1,500 Permanent Jobs, 4,000 Construction Jobs, 600 Affordable Housing Units, Dedicated Community Space, a Mayor Michael R. Bloomberg, Deputy Mayor for Economic Development Robert C. Lieber, Council Member Melissa Mark-Viverito, New York City Economic Development Corporation President Seth W. Pinsky, Housing Preservation and Development Deputy First Deputy Commissioner Douglas Apple, and Richman Group President Richard Richman today announced the start of construction of the first phase of a 1.7-million-square-foot, mixed-use development on three predominantly vacant parcels in East Harlem. The final development, to be known as the East Harlem Media, Entertainment and Cultural Center, will include 30,000 square feet of dedicated community and cultural space, more than 600 affordable housing units, a public plaza, new office and retail space, and a hotel. The $700 million project will create 1,500 permanent jobs and 4,000 construction jobs. Construction of the entire development will be a five-phase process with a target completion date of 2016. Phase one, located on the southeast corner of “Today’s groundbreaking, along with the other projects taking shape along 125th Street, are helping sustain the momentum of Harlem's ongoing renaissance,” said Mayor Bloomberg. “This major multi-use development - a major investment and show of confidence in “Today’s groundbreaking exemplifies the City’s continued commitment toward the renaissance of “This development was the result of a community-based planning process that took into account the needs and desires of this neighborhood,” said Council Member Mark-Viverito. “I am happy to be here today at the groundbreaking of the East 125th development, which will deliver the affordable housing and jobs our community has been calling for. As a community we will continue to meet with developers and our local community partners to ensure that as the project develops it honors the commitments made. I want to thank the Mayor and his administration for their willingness to listen to the community and for partnering with us in a meaningful way.” The development team, 125 MEC Center LLC, consists of Archstone-Smith, the Richman Group, Monadnock Construction, local development partners Hope Community, and El Barrio’s Operation Fightback. The first phase of development will provide 49 units of affordable housing, and 5,600 square feet of neighborhood retail space. The $23 million development is being funded from sources including 125 MEC Center LLC, the City’s Department of Housing Preservation and Development, the State Department of Housing and Community Renewal, the City Council, and the New York State Energy Research and Development Authority. The affordable housing component of Phase 1 will consist of 49 rental apartments (7 studios, 21 one-bedrooms, 13 two-bedrooms, 7 three-bedrooms, and 1 two-bedroom superintendent’s unit). All of the affordable housing will be available to families at varying income ranges; with a maximum income level of 60 percent of Area Median Income (AMI) or what is equal to an annual household income of $46,100 for a family of four. Building amenities will include on-site super, community room, storage space, bike storage room, laundry room with Energy Star washers and dryers and a private landscaped courtyard. Eight of the units will be set aside for tenants will disabilities. The project is a culmination of the City’s collaboration with the The East Harlem MEC is part of Mayor Bloomberg’s New Housing Marketplace Plan. Launched in 2003, the plan was first envisioned as a five-year plan to finance the construction or preservation of 65,000 affordable homes for New Yorkers. In 2006, it was expanded to its current form: to enable the creation or preservation 165,000 affordable units by 2014. Since the start of the national recession, the City has financed more affordable units – 17,000 – than any other “Today’s groundbreaking marks another great step forward in protecting Harlem’s “I am extremely pleased today to break ground on this transformative mixed-use development project on “Today’s groundbreaking for the East Harlem MEC represents the beginning of our commitment to build more than 600 units of quality affordable housing here in “We are very happy to have provided Low Income Housing Tax Credits for the development of the “125 MEC Center LLC is very pleased to be working with the Bloomberg administration and New York State government to kick off the first phase of this multi-phased, mixed use project, which will bring affordable housing, attendant retail, hotel and office space, and a new cultural center to East Harlem,” said Richard Richman, President of Richman Group and speaking on behalf of the development team. “We as a team see great opportunity in The project will achieve at least a Silver LEED Certification from the U.S. Green Buildings Council, with specific LEED points focusing on indoor environmental quality. As part of its proposal, the development team has committed to targeted hiring and a Minority and Women-owned Business Enterprise (M/WBE) plan, which will provide employment training and placement opportunities during and after construction. Features of the development include: · 30,000 square feet of cultural space celebrating
· More than 800 total housing units, 600 of which will be affordable to individuals or families with moderate or middle incomes;
· A mid-block public plaza;
· A minimum of 24,000 square feet of landscaped open space;
· 50,000 square feet of retail space reserved for locally-owned businesses at below market rents;
· 250,000 square feet of class A office space;
· A 98,000-square-foot hotel; and,
· A $10 million local investment fund to assist small businesses and entrepreneurs that locate in the new development.
–30–