State to Name Developer for $50-Mil Armory Restoration

NEW YORK CITY-The 122-year-old Seventh Regiment Armory, a Park Avenue landmark that has languished for decades, may soon be the site of a painstaking and long-overdue restoration. The Empire State Development Corp. is putting the final touches on a development deal and will formally set the project in motion this fall, GlobeSt.com has learned.

According to Empire State spokesperson Maura Gallucci, developer for the project, estimated at $50-million, has not yet been selected. But high on the list is the Seventh Regiment Conservancy. “The Conservancy was formed with the sole purpose of going ahead with this project,” Gallucci tells GlobeSt.com. “They are proposing a full restoration of the armory, which is required, as the structure is landmarked inside and out.”

The state will not sell the building, which has been run for 50 years by the New York State Division of Military and Naval Affairs, and will place its management and fiscal affairs in the Conservancy’s hands. The Conservancy plans to restore the Armory’s interior and exterior, modernize its electrical, HVAC and mechanical systems and repurpose it as a visual and performing arts center. Flexible, storable seating for the 55,000-SF drill hall will accommodate up to 4,000.