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East River Plaza
With numerous major development projects in the works in East Harlem, community groups have mobilized effectively to fight what they see as out-of-character development.
One troubled project in the area is East River Plaza, a 475,000 square foot retail center to be built over the abandoned Washburn Wire factory. The project was approved by the City Council in 1999, but funding troubles kept the project grounded until interest was renewed when Forest City Ratner bought a stake in the project in 2004. The project was originally to cost $87 million, but has ballooned into a most recent estimate of at least $300 million. Retail chains Target and Home Depot would anchor the mall.
Hopeful Economic Boost from Target in East River Plaza
Thursday, July 03, 2008 | New York Sun | Topic: Economic Development
East Harlem will soon be home to the first Target store in Manhattan as part of the East River Plaza. Some are hopeful that the store will bring much need commercial activity to the community, a place where many local residents travel to the Bronx or Westchester to shop. Best Buy and Marshalls will also be a part of the Plaza. Costco may also sublease the space originally leased by Home Depot. Many are hoping that the new shopping center will bring new jobs to area residents. Some in the area are concerned that the new Plaza will bring additional traffic and pollution to the neighborhood.
Home Depot May Abandon Location in East River Plaza
Friday, March 28, 2008 | Crain's New York Business | Topic: Land Use
Home Depot is reconsidering its decision to locate in the East River Plaza in Harlem, although it has already signed a lease for the site. In 1998, Home Depot first announced its interest in the site, which is a development project with Forest City Ratner and Blumenfeld Development Group. Construction is expected to be finished in 2009 and Target and Best Buy have also signed leases for the area.
NYC Retail In The Age Of Chain Stores
Saturday, October 14, 2006 | Gotham Gazette | Topic: Economic Development
The Gotham Gazette provides excerpts of comments from a recent panel discussion on the role of locally owned retail stores in an age when chain stores are increasingly locating in New York City. La Marqueta in East Harlem and Hunts Point in the Bronx are two projects discussed.
La Marqueta: Economic Engine For East Harlem?
Monday, September 25, 2006 | City Limits Weekly | Topic: Economic Development
City Limits reports on the status of the planned $20 million redevelopment of El Barrio’s La Marqueta. The East Harlem municipal market has faced decades of weak revenues and previous efforts to revitalize it have stalled. While current planners are confident that today’s economic conditions are favorable for the area's renaissance, the group hired by the city to implement the plan says that they are “at least $5 million short and 18 months behind schedule.”
Manhattan’s First Target Store Will Arrive In East Harlem
Friday, September 08, 2006 | New York Times | Topic: General
Target has signed a lease with the East River Plaza to become one of the two anchor stores for the new shopping center. This new agreement takes the place of a Costco Wholesale Club which was expected to fill that vacancy. The other anchor store to the center remains to be Home Depot. The East River Plaza is due to open in 2008.
Uptown Plan Down And Out
Wednesday, May 03, 2006 | New York Daily News | Topic: Land Use
In a rare nod to community opposition, the Bloomberg administration has scrapped plans for a massive commercial and residential development project in rapidly gentrifying East Harlem. Bowing to pressure from Manhattan Borough President Scott Stringer, City Councilwoman Melissa Mark Viverito (D-East Harlem) and Community Board 11, the mayor's office quietly informed them last week that the city's Economic Development Corp. will not move forward with the "Uptown New York" project.
New Developer for East River Plaza
Thursday, June 17, 2004 | New York Times | Topic: Economic Development
Nearly five years after city officials approved a plan to replace the abandoned Washburn Wire factory in East Harlem with a big-box shopping center, the project, East River Plaza, may be gaining momentum. Last month, the original developer, the Blumenfeld Development Corporation of Syosset, N.Y., acquired a new partner, Forest City Ratner Companies, which has extensive experience in building projects in low-income neighborhoods in New York.


