Crotona Park to see new retail complex.

Andrew M. Alper, president of the New York City Economic Development Corporation (EDC), announced the sale of approximately 94,000 SF of city-owned property for the development of a retail/entertainment complex in the Crotona Park section of the Bronx by CBC Associates LLC.

"This project will add to the economic revitalization that this area is currently experiencing, said Alper. "Only a block away, another shopping center, to be anchored by an approximately 40,000-SF Pathmark and major retailers, is scheduled to be completed by the end of the year. The project will also put the property back on the tax rolls to generate revenue for the city."

The site consists of two parcels of land on the northwest (Lot 46) and southwest (Lot 10) corners of Boston Road and East 175th Street, just south of the intersection of the Cross-Bronx Expressway, Boston Road and Southern Boulevard. The former NYC Transit Authority's West Farms Bus Depot, which has long been vacant and an eyesore to the community, is located on Lot 10. The Bronx Borough President is providing $250,000 for the demolition of the derelict, two-story building to make way for the project.

"The Bronx continues its development as a major regional entertainment and business center for families," said Bronx Borough President Adolfo Carrion Jr. "I thank EDC for working with local leaders toward ensuring that projects like this continue to bring in new jobs and countless opportunities."