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New York & Tri-State  + Uptown/Bronx  + Industrial  |  June 17, 2019
Paul Bubny
By: Paul Bubny

NYCEDC Funds Will Bring Industrial to Former Spofford Center

The New York City Economic Development Corporation recently selected Mutual Housing Association of New York (MHANY) as the next awardee of the Industrial Developer Fund (IDF) and as the recipient of the Industrial Developer Loan Fund (IDLF).

The $18-million allocation will support MHANY’s development of nearly 50,000 square feet of industrial space that will be part of the Peninsula, a mixed-use redevelopment of the former Spofford Youth Center in the Hunts Point section of the Bronx.

The Peninsula is expected to bring 740 affordable housing units, a community facility, artist workspaces and open, industrial and commercial space on line in three phases by 2021, 2022 and 2024. The project will support various Bronx-based small- to medium-sized industrial and light manufacturing businesses that will create approximately 75 jobs, as well as business incubation in emerging sectors.

NYCEDC has allocated $15 million through the IDF award, and $3 million through the IDLF program.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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