Location

Bronx, NY

Est. Project Cost

$112.5 million

Public Financing

New Markets Tax Credit

Private Financing

EB-5 and Bridge Financing

Type

Commercial/Office, Healthcare, Hospitality & Retail

Size

354,000 SF

Sponsor

Simone Development

Closing Date

2013

Adaptive Re-Use Development EB-5/NMTC Financing

Development of a 354,000 square foot mixed use project consisting of medical office, health center, hotel, and the first LA Fitness in NYC. Primary financing was secured with EB-5 financing. The NMTC subsidy will allow for the expansion of medical/health space for local providers.

Estimated Economic and Social Impact

Over 2,000 job impact with over 300 construction jobs serving over 3,000 daily visitors.