The city has taken a critical step toward development of the long-neglected Kingsbridge Armory, selecting a developer for the huge project that, once completed, will include event space, sports fields, educational community space and 450 units of affordable housing next door.
According to the city’s estimates, the redevelopment is expected to create over 3,000 construction jobs and 360 permanent jobs and generate nearly $2.6 billion in economic impact over the next 30 years.
The developer, 8th Regiment Partners LLC, won the competitive solicitation process for proposals that kicked off in summer 2023.
“There have been many efforts in the past to get a project that really delivers for the community,” said Andrew Kimball, the CEO of the Economic Development Corporation, which is working with the city on the project and oversaw the solicitation process.
“They’ve got a real track record in terms of both residential and commercial,” Kimball said, listing the quality of their design, programs and financial feasibility as reasons the developer, an LLC made up of real estate partners Maddd Equities and Joy Construction.
The 5-acre site has been mostly vacant for two decades as proposals for the massive structure flopped for years. The most recent plan, abandoned in 2021, was to make the space into the world’s largest ice skating center.
In selecting 8th Regiment Partners, the city and EDC passed on the Northwest Bronx Community and Clergy Coalition, a nonprofit group whose executive director, Sandra Lobo, helped lead a nine-month community outreach process and created a comprehensive plan for the space. The Coalition submitted its own application for the Armory, which included space for local vendors and performance space, in addition to adjacent affordable housing.
“I’m cautiously optimistic,” Lobo said. “I know that a lot of work has been put into this process, with the 4,000 residents, and the business owners and vision document. We were really clear about the role of the community in this project, and we’re confident in the community stewards.”
A source familiar with the application process for the project said the Coalition was passed on because EDC received applications that were financially stronger.
“We are excited for this opportunity to work with all of our government partners to transform this incredible, landmarked space into a thriving center of economic activity for the community, the borough, and the City of New York,” Gabriella Madruga, principal of Maddd Equities, said in a statement.
“This is a wonderful example of a public-private partnership that will revitalize one of the most unique and historical buildings in New York.”
Adams and Gov. Hochul are each investing $100 million in city and state funds for project, with additional allocations coming through Bronx Borough President Vanessa Gibson, Councilmember Pierina Sanchez and federal grant money secured by Rep. Adriano Espilliat.
“At the Kingsbridge Armory, our administration saw a historic yet underutilized site as an opportunity to dream and deliver a bold, forward-looking vision for the Bronx,” Mayor Adams said in a statement. “In just one location, we’re delivering affordable housing for our neighbors, sports fields for our children, community spaces for our families, and so much more.”
The development team partners includes Adams’ campaign contributors. Madruga gave $2,000 to Adams’ 2021 bid for mayor. Another Maddd employee, development consultant William Bollinger, gave Adams’ first campaign $400, and firm founder Jorge Madruga donated $3,850 to Adams’ Brooklyn borough president campaign in 2015.
Joy Construction’s principal, Eli Weiss, gave Adams’ 2021 campaign $400, the max allowed, given he has been in the city’s Doing Business database at least since 2019. Weiss also gave the maximum donation — $3,850 to Adams’ borough president campaign, in 2015.
With Chris Sommerfeldt
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