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NYCEDC Selects Developers For $116M Harlem Projects

NEW YORK CITY-The historic Corn Exchange Building and former Taystee Bakery Complex on 125th Street’s commercial corridor will be repurposed for new use.

By Jacqueline Hlavenka | Updated on July 14, 2011

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 125th 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.

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