Kingsbridge Armory: Revamping the Bronx Icon for Community and Economic Growth
Deal News | May 19, 2025 | New York City Economic Develop
The New York City Economic Development Corporation (NYCEDC) and 8th Regiment Partners have initiated the Uniform Land Use Review Procedure (ULURP) for redeveloping the historic Kingsbridge Armory in the Bronx. This redevelopment aims to transform the armory into a vibrant community hub encompassing a state-of-the-art event venue, sports fields, cultural and commercial spaces, and affordable housing units. The two-phase project, backed by $215 million in city, state, and federal investment, promises an economic impact of over $2 billion and the creation of more than 3,300 jobs. The ULURP process will involve public participation, offering Bronx residents a say in the future of the armory. The redevelopment aligns with the Together for Kingsbridge Vision Plan, emphasizing community ownership, cultural vitality, and economic opportunity. Phase one of the project is expected to conclude by 2030 with a mixed-use development including the massive Drill Hall, while phase two will deliver affordable rental housing by 2032. The project is considered a significant step towards using a landmark that has been underutilized for decades to benefit the local community.
Sectors
- Real Estate Development
- Public Infrastructure
Geography
- United States – The entire project takes place within the United States, specifically benefiting an area in New York City.
- New York, NY – The redevelopment project is focused on Kingsbridge Armory located in the Bronx, which is part of New York City.
Industry
- Real Estate Development – The article discusses the redevelopment of the Kingsbridge Armory into a mixed-use community and economic hub, a key aspect of the Real Estate Development sector.
- Public Infrastructure – Involvement of NYCEDC and public investment highlights the role of public entities in facilitating infrastructural development and community-centric projects.
Financials
- $215 million – Total investment from city, state, and federal resources backing the Kingsbridge Armory redevelopment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| New York City Economic Development Corporation (NYCEDC) | Project Leader | Company | A mission-driven nonprofit organization involved in economic development projects across NYC. |
| 8th Regiment Partners | Development Partner | Company | Chosen partner for the redevelopment of the Kingsbridge Armory through a rigorous selection process. |
| City of New York | Funding Provider | Government | The city government is contributing $200 million in funding for the project. |
| Office of the Mayor of New York City | Project Initiator | Government | Involved in planning and funding, leading the vision for redevelopment under Mayor Eric Adams. |
| State of New York | Funding Provider | Government | Along with the city, the state is providing substantial funding and support for the armory project. |
| U.S. Department of Housing and Urban Development | Grant Provider | Government | Federal department providing a $1.05 million grant to support the redevelopment project. |
| Bronx Community Board 7 | Local Stakeholder | Government | A community board involved in reviewing plans and community engagement for the redevelopment. |