Monday, May 24, 2010

☞ REVIVE: Mart 125 Closer to Development

Ever since the city proposed to develop the decrepit Mart 125 space as the new location for the National Jazz Museum a couple of years ago, nothing much has been going on. Today, Crain's reports that the next step for the two-story, former street vendor space on the north side of 125th Street (between FDB and ACP), is to have developers come up with proposals for the possible 67,000 square foot building which would also include the ImageNation Theater, a cafe and retail space on the ground floor. The old structure would basically be torn down and a building roughly six times its height will take its place. It's unclear why it has taken two years to put out the offer to developers but we are crossing our fingers that 2010 will be the next big year for 125th Street. All submissions are due on July 30th. Read more in today's Crain's: LINK. Read the NY Times article from 2008: LINK.

8 comments:

  1. I was under the impression that the original space was to be renovated. I did hear that the Jazz Museum had to come up with 5 million dollars for the space. I thought that was for the renovation costs.

    At the rate that they are going it’ll be another year before any decision is made.

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  2. This is excellent news. Vic, hopefully it won't be as long as that, but yes, it has taken quite a while to get to this point. The fact that they have taken two years to make a decision, however, would indicate that this IS going to happen. I don't mind slow and steady progress if it is done correctly.

    Additionally, this type of news will encourage further development along 125th and will hopefully provide an incentive for future projects along 125th, including the anticipated Hotel project on 125th & Lenox.

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  3. Does anyone know what is going on with the Victoria theater development? Is it completely stalled?

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  4. Chris - I agree, the Jazz Museum may increase the chances that the proposed Hyatt Hotel actually gets built and that it may also encourage future development along 125th street.

    But, can you imagine what 125th street will look like when construction begins!

    I'm with Ulysses...my fingers are crossed too.

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  5. ANon 4:49,

    I believe Ulysses is crossing his fingers in hope that 125th does get developed. Not the opposite.

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  6. 125th street has a lot of these depressing 1 and 2 story buildings of no architectural significance occupying lots that are begging to house large multi story buildings that can bring new life to 125th, sooner rather than later.

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  7. Anon 8:40

    I am actually crossing my fingers in the hopes that development fires-up!

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  8. This whole stretch needs serious density, development and renewal.

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