Contact: Colleen Roche 212-788-2958, Curt Ritter 212-788-2971, or Bernadette O'Leary 212-312-3523 (EDC)
Mayor Rudolph W. Giuliani announced today that a new project is being developed under the Manhattan-side of the Queensboro Bridge, traditionally known as Bridgemarket, that will create 300 permanent jobs and 350 temporary construction jobs. Bridgemarket is expected to open in approximately one year and will feature a sparkling new food store together with Conran's Restaurant, and Conran's Design Store.
The project includes 98,000 square feet of retail development, which will be built on a 61,000-square-foot parcel of land below the Manhattan approach to the Queensboro Bridge, located between 59th and 60th Streets between First Avenue and the Queensboro Oval. The total project cost is approximately $20 million, which will be privately financed and include an equity investment by the developer, Bridgemarket Associates, L.P.
The property is being leased by the city to the developer and then subleased to three tenants: Whole Food, Inc., Conran's Restaurant, and Conran's Design Store. The plans for the project were designed by the architecture firm Hardy Holzman Pfeiffer Associates. The entire project will be landscaped with new street trees and architectural finishes, including the re-installation of the original historic market fountain, which will be restored and located at the eastern end of the new outdoor plaza.
"The revitalized Bridgemarket will transform an area that has been vacant for many years into a beautiful, new retail complex, creating 300 permanent jobs and adding more retail options for the Sutton Place community," said Mayor Giuliani. "I am very pleased that this project will bring this landmark to life by restoring the market's original beauty."
The historic Queensboro Bridge was designed at the turn of the last century by architect Henry Hornbostel and engineer Gustav Lindenthal. First opened in 1909, the area underneath the bridge on the Manhattan side, known as "The Cathedral," was designed using Guastavino tile vaults, which range in height from 24 to 45 feet. This space initially served as an open green market for merchants on their way into the City via the newly constructed Queensboro Bridge. The food market remained in operation until 1946 when it was closed to the public. Since then, it has primarily been used by the Department of Transportation to store vehicles and as a sign shop.
"Mayor Giuliani's efforts to encourage private investment in under-utilized, City-owned property has again paid off. This development will return this once vibrant market site to the private sector and create more economic activity for New York City," said New York City Economic Development President Charles Millard.
"This project will utilize and preserve the architectural integrity of a magnificent, historic structure and offer residents unique restaurant and food options," said Gordon Group Holdings Chairman Sheldon Gordon. "When completed, Bridgemarket will be known around the country for its restored beauty as a landmark. It is very exciting to be a part of a project that is important to so many people."
"When complete, Bridgemarket will be an urban amenity unlike any other," said Hugh Hardy, FAIA, the architect-in-charge of the project. "Its restoration will create a grand market, will be a catalyst for renewal of the neighborhood, and will reclaim for public use one of New York City's great public places."
The Department of Transportation (DOT) is currently in the midst of major renovation of the entire Queensboro Bridge. Bridgemarket Associates will work in conjunction with DOT and its contractors to ensure the restoration of the 34 historic Guastavino tile vaults and installation of new windows. In addition, the project will include a new 20,000 square foot public plaza on the 59th Street side of the bridge.
Hardy Holzman Pfeiffer Associates, with offices in New York and Los Angeles, is one of the nation's leading planning, architectural and interior design firms. The firm has been honored by architectural, civic and preservation groups with well over 100 design awards since it was founded in 1967.
Bridgemarket Associates, L.P. is a subsidiary of Gordon Group Holdings, Ltd., a California-based retail/entertainment development company.
EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, EDC helps develop businesses and create jobs throughout the five boroughs.