Harlem Staging Its Latest Renaissance
“Harlem has finally been recognized as being in Manhattan,” the chairman of global brokerage at CB Richard Ellis, Stephen Siegel, said. “It is a wonderful land for opportunity from a location, transportation, and developable site perspective.”
“Harlem has arrived. Almost every storefront is full, crime is way down, and the streets are clean,” the president of Gotham Organization, David Picket, said.
In 2008, Harlem residents and visitors will have the opportunity to shop at Target, which has six stores in the city and two more under construction. Last week, Blumenfeld Development Group and its joint venture partner Forest City Ratner announced that Target has signed a lease for a 135,000-square-foot mega store. It will serve as an anchor, along with Home Depot, at East River Plaza, a new shopping center located on the site of Washburn Wire factory site (which has been vacant for more than a quarter of a century).