Business

Kingsbridge Armory ice-rink redevelopment moves ahead

The city has finally agreed to hand over the lease to the builder who wants to redevelop the Kingsbridge Armory in the Bronx into an ice complex. Mayor Bill de Blasio announced the change of heart yesterday, adding that he was hopeful the Empire State Development Corp. will also approve a $108 million loan for the project next month.

Former Ranger Mark Messier and development firm KNIC said they expect to break ground on the first phase of the $350 million project later this year. The developer accused the city of breaking their contract and stalling construction. The city refused to hand over the lease of the armory to KNIC until the developer raised $158 million to finance the first phase.

Kingsbridge Armory ice-rink redevelopment in the Bronx moves ahead – Crain’s New York Business

thumbnail courtesy of crainsnewyork.com

Leave a Reply

Your email address will not be published. Required fields are marked *