A big-time private investment will bring two new commercial developments to a stretch of West 125th Street that could include the first brewery in Harlem since Prohibition.
The city’s Economic Development Corporation announced today that it has tapped both Janus Partners and Monadnock Construction for the former Taystee Bakery Complex project, while 125th Street Equities was selected to redevelop the Corn Exchange Building. Together, the sites comprise 350,000 square feet.
“We rezoned 125th Street to strengthen the famed Harlem corridor and enhance its historic role as a vibrant arts, entertainment and retail center,” said Mayor Michael Bloomberg in a news release. “The private sector commitments represent an enormous vote of confidence in Harlem’s future and 125th Street’s ongoing role in the area’s revitalization.”
The developments are expected to create 530 permanent jobs and 570 construction jobs, according to the city. The 328,000-square-foot Taystee Bakery Complex will become CREATE @ Harlem, a commercial and industrial space for creative industry tenants, and the Corn Exchange Building project will add 31,000 square feet of office and retail space to the Harlem corridor.
The Taystee Bakery project will likely cost $100 million in private money, while the Corn Exchange Building development is expected to come with a $16 million price tag.
CREATE @ Harlem Green already has a few potential tenants: the Harlem Brewing Company is expected to relocate from Saratoga Springs; Greenpoint Manufacturing and Design Center will take 53,000 square feet of space to lease out to small artisan companies; HerFlan plans to start a wholesale production facility and retail outlet in the building; and Carver Federal Savings Bank might also move in.
If we’re not mistaken, the Harlem Brewing Company‘s move will mark the first brewery in Harlem since before Prohibition. And the brewery has some plans in store that we’re sure will interest locals (and tourists): the company plans to grow hops on an open roof, give tours of the facility, and open a brewing museum, a tap room and a gift shop. Yum!
“I am thrilled that this development, which is consistent with the vision of the community for this neighborhood, is moving forward,” said local City Council member Robert Jackson. “It will re-activate an important site in our community, and bring hundreds of good jobs to the people of Harlem.”
The question now is: when will all this fabulous new development be completed? Developers have not yet released a date.