Last Wednesday, the city approved a proposal that could lead to $17.8 million in tax breaks for the Related Companies, the developer that plans to transform the massive landmarked Kingsbridge Armory into a shopping center.

For the Kingsbridge Armory Redevelopment Alliance (KARA), the decision was a setback. The Alliance hoped the agency would postpone its decision until Related committed to negotiating a community benefits agreement.

$17.8 Million in Tax Breaks OK’d for Armory Developer

Last Wednesday, the city approved a proposal that could lead to $17.8 million in tax breaks for the Related Companies, the developer that plans to transform the massive landmarked Kingsbridge Armory into a shopping center.

For the Kingsbridge Armory Redevelopment Alliance (KARA), the decision was a setback. The Alliance hoped the agency would postpone its decision until Related committed to negotiating a community benefits agreement.

This week the city will begin discussing how much public financing to award the Related Companies in exchange for buying and renovating the Kingsbridge Armory into a giant shopping mall. With the inclusion of public financing for the Armory project, community groups believe they will have added leverage to negotiate a substantial community benefits agreement

Armory Tax Breaks Could Lead To Community Benefits

This week the city will begin discussing how much public financing to award the Related Companies in exchange for buying and renovating the Kingsbridge Armory into a giant shopping mall. With the inclusion of public financing for the Armory project, community groups believe they will have added leverage to negotiate a substantial community benefits agreement

Armory Could Bring More Than a Shopping Mall

With every large-scale urban development project, like the overhaul planned for the Kingsbridge Armory, comes the inevitable question: How will the community benefit? The answer varies depending on factors such as the project's popularity, the number of jobs created and the public land use review process.

It's also increasingly about the community getting the developer to sign a binding agreement, offering certain benefits to the community - such as local hiring preferences, job training programs for local residents, or money for local service programs.

What Will Become of the Kingsbridge Armory?

Redevelopment plans for the Kingsbridge Armory will almost certainly undergo significant changes in the coming months as the developer, the Related Companies, shepherds their plan through the land use review process and negotiates with community stakeholders. But here’s where things stand so far: What Related plans to put in the Armory • 897,860 square feet […]

KARA and CB7 Working Together

I am writing in response to the editorial in your July 10-23 issue, “Circular Firing Line at Armory?” I was puzzled by your characterization that the Northwest Bronx Community and Clergy Coalition is trying to shut out Community Board 7. We agree that the Kingsbridge Armory Redevelopment Alliance (KARA) and CB7 must work in common […]

Residents Rally for Armory Benefits at City Hall

"Build more schools! Build more schools!" about 100 Bronx residents shouted in unison at a rally on the steps of City Hall on April 24, three days after the city officially announced its selection of Related Companies to redevelop the Kingsbridge Armory. They hoped to send the message to the city and developer that a community benefits agreement still needs to be negotiated before construction begins.