NEW YORK—Mayor Michael Bloomberg and the New York Economic Development Corporation (NYEDC) awarded contracts to developers on Wednesday to transform more than 350,000 square feet of long-vacant space along Harlem’s 125th Street into new commercial and manufacturing space.
Janus Partners LLC and Monadnock Construction will invest $100 million to renovate the old Taystee Bakery complex composed of five buildings running along 125th and 126th streets near Amsterdam Avenue.
“I remember the smell of fresh-baked goods coming down the street,” said Richard Harrigan, 61, as he sat on a bench on 126th Street. He’s one of the few who can remember a time when the massive lot was in use. Decades after it closed down, most people in the area have forgotten Taystee Bakery, but Hernandez may once again bring the smell of fresh-baked goods to 126th Street.
NYEDC also awarded a contract to 125th Street Equities to develop the landmarked Corn Exchange Building on East 125th Street at Park Avenue. The 125th Street Equities will spend $16 million to renovate the two-story structure in accordance with landmark status regulations. When complete, the building will stand eight stories high with 31,000 square feet of business space, including “minority and women-owned businesses and job opportunities,” assured Councilwoman Inez Dickens.
read the full article here.