MTA, city of New York investing $500 million in area around Broadway Junction subway station
The Metropolitan Transportation Authority (MTA) and the city of New York are overseeing a $500 million renovation in the area around the Broadway Junction subway station in Brooklyn that will deliver vibrant public space, improve quality of life, create family-sustaining jobs and unlock inclusive economic growth throughout east New York. MTA is funding $400 million for accessibility upgrades at the Broadway Junction station complex while the remainder is a $95 million city investment to activate underutilized public spaces around the subway complex, improve street safety for pedestrians, cyclists and all road users and create approximately one acre of new open space.
With the new public commitments and planned private investments around the Broadway Junction complex, the city is expected to see more than $11.6 billion in economic impact during the next 30 years, including opportunities for local businesses, nonprofits and minority- and women-owned business enterprises. These new public realm investments are expected to generate more than 2,300 construction jobs citywide and will add to more than 2,000 new homes, including hundreds of affordable homes that are recently completed, in construction, permitted or projected in the neighborhood.
“I fought to bring investments to this community when I was Brooklyn borough president, and as mayor, I am proud to say that we are getting it done,” said New York City Mayor Adams. “This $500 million public investment will create more than 2,300 construction jobs, two new public plazas and safer streets in this community, along with more than $11 billion in economic impact for the city. This process has been led by the people who live here, and our administration is completely committed to keeping the community front and center and delivering the quality of life the residents deserve.”
“This is a generational investment in East Brooklyn that will bring long-overdue improvements to transit infrastructure and the public realm and significantly enhance the quality of life for residents and businesses while catalyzing future private investment in housing, as well as commercial and industrial development,” said New York City Economic Development Corporation (NYCEDC) President and CEO Andrew Kimball. “In the ‘New’ New York action plan, Mayor Adams called for greater investment in outer-borough residential and commercial hubs with strong access to transit, and Broadway Junction is a perfect example of this need. NYCEDC looks forward to working alongside the community to execute this plan while bringing more jobs, housing and services to east New York.”
“Broadway Junction is the heart of the MTA,” said Jamie Torres-Springer, president, construction and development, MTA. “Through accessibility upgrades and other critical projects in the area, we're making investments that reflect that. We’re proud to partner with the city on making East New York a priority for the future.”
