$14M ShopRite to Replace Shuttered Key Food in Bronx’s Bruckner Plaza
A corporation that owns and operates 29 ShopRite supermarkets in New Jersey, Maryland and Pennsylvania, is looking to open a new market in the Soundview section of the Bronx, where the biggest grocer in the area closed last fall.
New Jersey-based Village Super Market wants to lease, renovate and equip a 41,840-square-foot building (29,418 square feet of it at grade) in Bruckner Plaza shopping center at 1998 Bruckner Boulevard at White Plains Road, according to a benefits application with the city’s Industrial Development Agency. The 658,031-square-foot Bruckner Plaza is home to four buildings comprised of 344,225 square feet.
Village Super Market is applying for $8.5 million in tax incentives through the FRESH program through the IDA. The program provides incentives for supermarkets to open in underserved areas. The public hearing is Thursday and Village Super Market will be going before the IDA board of directors in March.
State Sen. Jeff Klein announced last month that the ShopRite would be coming, according to News 12 in the Bronx, which was welcomed news to residents who have been struggling to find healthy places to shop after a slew of supermarket closures over the last year.
Village Super Market is projected to sign a lease with property owner, Urban Edge Properties, this March, and would invest $14 million in construction soft costs, fixed tenant improvements and furnishings and equipment, the application indicates. The market would open in early 2017 and the site would mark the company’s first store in New York City.
Vornado Realty Trust bought the site for $130 million in January 2007, according to New York City Department of Finance records. Vornado spun off Urban Edge Properties as an independent, public company in January 2015.