Maddd Equities, Joy Construction Selected to Develop Kingsbridge Armory

The New York City Economic Development Corporation (EDC) has selected Maddd Equities and Joy Construction to develop the long-vacant Kingsbridge Armory in the Bronx.

Under its new developers, the 570,000-square-foot armory in Kingsbridge Heights is set to become an event venue with community space, a recreation center, an educational hub and sports fields, according to The City, which first reported the news.

Maddd and Joy, which are using the entity 8th Regiment Partners for the development, “embraced the community’s vision plan for the Armory and demonstrated through their thoughtful design, programmatic uses and financial viability that, in partnership with the city and state, they can finally deliver the economic engine and community amenities that the Bronx wants and deserves,” EDC CEO Andrew Kimball told The City.

Construction of the event venue, which would hold about 13,000 people, is expected to begin in 2027 and be completed by 2032, The City reported.

Spokespeople for EDC, Maddd and Joy did not immediately respond to requests for comment.

EDC launched a bidding process to redevelop the landmarked property in September following several failed attempts to turn the massive Armory into a shopping complex developed by Related Companies and even a national ice center with the backing of New York Rangers legend Mark Messier.

The Kingsbridge Armory, located near the Bronx’s Saint James Park, was built in 1917 for the National Guard and has suffered in recent years from serious electrical and flooding issues, according to The City. New York City took over the building in 1996.

The EDC has estimated the project will cost up to $500 million, but Maddd and Joy have some help from city officials. The developers have received approximately $216 million in city and state funding — including $100 million each from Mayor Eric Adams and Gov. Kathy Hochul, and the rest from the New York City Council, The City reported.

Adams has also announced that Maddd and Joy must use union labor on the site after an agreement was reached last year with the Building and Construction Trades Council of Greater New York. The project is set to create 1,100 construction jobs, The Real Deal reported.

Maddd and Joy will be watched especially closely, as there have been multiple construction fatalities on each of the developers’ past sites, according to The City.

Once completed, the Bronx armory will become a “community-owned space” for manufacturing, film and television production, and sports training, as well as a cultural and educational gathering space, the outlet reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.