Kingsbridge Armory Redevelopment Wins City Council Approval

The New York City Council voted to approve a redevelopment proposal and 500 units of affordable housing for the Kingsbridge Armory and surrounding neighborhood in the Bronx. The project is expected to generate $2.6 billion of economic activity.

“The Council is proud to have approved the redevelopment of Kingsbridge Armory, so the historic site can better serve the Bronx community for generations to come,” said Speaker Adrienne Adams. “The redevelopment will bring 500 permanently affordable homes and new opportunities to the Bronx, including a community facility and cultural space, office space and a 17,000-person live event venue.”

Council approval will activate $215 million in public investments committed in the onset of this process, a Community Benefits Agreement valued at $130 million between the selected developer and more than 30 local organizations—including a first source hiring policy that requires an exclusive 30-day hiring period for Bronxites along with robust enforcement mechanisms—and an estimated $30 million of additional neighborhood investment from the City of New York.

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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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