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Big E. Harlem Retail-Hotel-Apartment Development Coming?

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[Photo courtesy of frants/flickr]

It looks like some major players are interested in a huge Harlem project on E. 125th Street that would involve about 1.7 million square feet of development on six acres. The contenders, identified by Crain's, are Vornado Realty Trust, General Growth Properties and Thor Equities. The development would include "a retail component anchored by a national chain, plus local shops, restaurants, cinemas, nightclubs and possibly a hotel." It would also have up to 1,000 apartments. The site, which is between E. 125th and E. 127th Streets and Second and Third Avenues currently holds and MTA bus depot, parking lot, vacant land and a few businesses including a gas station. This is actually the third time the city has tried to develop the land. A 1997 effort fizzled and a 2005 idea for a shopping mall was killed by community opposition. The area wasn't part the 125th Street rezoning, but the city is working on rezoning it.
· City ready to choose E. 125th developer [Crain's]