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NYC Aims to Spur Economic Development with City Office Space
New York City Mayor Eric Adams on Wednesday announced his new “CARE” strategy, “City Agencies Revitalizing the Economy,” to create jobs hubs citywide by strategically locating city agency offices in key neighborhoods. The new strategy leverages long-term city commercial leases to bring jobs closer to communities and catalyze new commercial development outside traditional CBDs.
Adams kicked off the initiative’s first phase, breaking ground on what will be the largest-ever commercial building in the Broadway Junction area of East New York, Brooklyn, which the New York City Department of Social Services will occupy.
The strategy delivers on a commitment of Adams’ “Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery.” “When I outlined my economic recovery blueprint last month, I spoke about not going back to the way things were before the pandemic – and that is what this strategy and this groundbreaking are all about,” said Adams.
- ◦Development
- ◦Economy
