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Maddd Equities partners with the City to advance housing and economic development.
Maddd Equities and The Kingsbridge Armory Project in the Bronx
A Commitment to Fair Housing and Equity in New York City
The City’s commitment to fair housing and the balanced approach are reflected in the six strategic goals of Where We Live NYC, which serve as a roadmap for advancing fair housing and promoting equity throughout our neighborhoods. These goals are not just policy statements, they represent real change for HPD and the City as we have evolved and embraced our obligation to affirmatively furthering fair housing.
Unlocking City Land for Housing Development
On August 21, 2024, Mayor Adams signed Executive Order 43: Prioritizing Housing Production and Accelerating the Production of Housing on City Sites, compelling City agencies to identify public land suitable for new housing development to address the city’s housing crisis. The executive order establishes the City Housing Activation Task Force, with representatives from mayoral agencies and other public entities. The Task Force is prioritizing the redevelopment of publicly-owned sites in amenity-rich areas.
In October 2024, Mayor Adams announced the first site to be redeveloped as a result of the Task Force: the City-owned Gansevoort Meat Market will be redeveloped into a mixed-use community, Gansevoort Square, with approximately 600 apartments, 50 percent of which will be reserved for affordable housing.
Revitalizing the Kingsbridge Armory in the Bronx
The city has decided to continue the development of the Kingsbridge Armory in the Bronx. According to the city’s estimates, the redevelopment is expected to create over 3,000 construction jobs and 360 permanent jobs and generate nearly $2.6 billion in economic impact over the next 30 years.
The History of the Kingsbridge Armory
According to Wikipedia, the Kingsbridge Armory, also known as the Eighth Regiment Armory, is a decommissioned armory at Jerome Avenue and West Kingsbridge Road in the Kingsbridge Heights neighborhood of the Bronx in New York City. It was built in the 1910s, from a design by the firm of then-state architect Lewis Pilcher to house the New York National Guard’s Eighth Coast Defense Command (258th Field Artillery Regiment after November 1921), a regiment-sized unit which relocated from Manhattan in 1917. It is possibly the largest armory in the world.
