NEW YORK CITY-In an effort to jump-start Harlem’s local economy, the New York City Economic Development Corp. and city officials selected two developers to rehabilitate the former Taystee Bakery Complex and the historic Corn Exchange Building located along the 125^th Street commercial corridor on Wednesday afternoon. The long-vacant sites will be repurposed to include new industrial, office and retail space, which will result in more than 530 permanent jobs, 570 construction jobs and 350,000 square feet of new commercial space in the neighborhood, totaling $116 in private investment.

The larger of the two projects will be the $100-million redevelopment of the bakery complex, which will be transformed into CREATE @ Harlem Green, a 328,000-square-foot commercial and industrial space that will house tenants from creative industries and several locally-based businesses. Upon completion, the development will include 100,000 square feet of manufacturing space, 90,000 square feet of office space, 40,000 square feet of retail space and 10,000 square feet of community facility space here.

Several tenants are already lined up for Harlem Green, the NYCEDC says. Harlem Brewing Co., which currently operates in Saratoga Springs, NY, has agreed to move its production facility, brewing museum, a tap room and gift ship to the complex. Other tenants on-board include Greenpoint Manufacturing and Design, who will operate 53,000 square feet of manufacturing space to be leased as smaller spaces for artisan companies, as well as local baker HerFlan, who will be opening a wholesale production facility and retail outlet as means to expand operations from La Marqueta, also in the neighborhood.