Crain’s New York is reporting that Emmitt Smith and his partner/investors received federal tax-exempt financing today. ESmith Legacy Harlem was approved for $19.7 million in Recovery Zone Facility Bonds, which it received through the New York City Capital Resource Corporation. I believe this was the last hurdle Mr. Smith’s firm was waiting for. Now they can proceed to build on the empty lot at 125th Street and Lenox Avenue. Once that happens, the entire make-up of that area will continue to change.
Online reports are saying that the plan could bring a Whole Foods to Harlem, a Hyatt-branded hotel along with 129 construction jobs and 81 permanent jobs. Nice. Let’s just hope the project does not take forever to build.
I have one message for Emmitt Smith: build it in a timely and reasonable manner. Please do not take forever!