New lease for Bronx Terminal Market could mean new prime location, new jobs
(04/03/04) BRONX TERMINAL MARKET - After a decades-long struggle, city officials have signed over a new lease for the Bronx Terminal Market. Borough President Adolfo Carrion says the new lease should create at least 3,700 news jobs in the Bronx.
The new leaseholders, officials from Related Companies, plan to create retail and entertainment space at the market. Carrion says a new project planned for the area could turn it into a new destination in the Bronx, complete with restaurants and shops. Vendors have mixed reviews on the plan.
The deal brings to an end years and years of legal struggle between city officials and the Buntzman family, who has held a 99-year lease for the market since 1972. Carrion says the new leaseholders bought the Buntzmans out for $42 million.