Hunts Point Market fighting to stay in borough
The lease for the Hunts Point Market expires today and many vendors say they are trying to stay in the borough.
The market could remain in the borough with a short-term extension. However, vendors say they need several improvements for the facility before signing a new lease.
Several vendors say they have considered moving to New Jersey, where they may get a brand new refridgeration facility, tax incentives and decreased regulations. Rising travel costs are also a deterrent for vendors coming to the Bronx.
The market brings in about $2 billion per year for the city and employs thousands. Market executives are currently negotiating with the city's economic development corporation and hope to come to a compromise to sign a 30 or 40-year lease.