EQUITY ONE TO DEVELOP $54M PROJECT IN BRONX RETAIL CORRIDOR

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NEW YORK CITY — Equity One has been selected to redevelop an 80,000-square-foot site along the Broadway retail corridor in the Bronx. The firm will spend $54 million to construct a new, 133,000-square-foot retail development and parking facility on the site in the Kingsbridge area. Equity One plans to look for four national retail tenants for the space. The developer will purchase the site from the city for $7.5 million, with construction expected to begin in early 2013 and be completed within two years. Equity One was selected as developer after responding to a request for a proposal from the New York Economic Development Corp. in August 2011.

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