Warehouse space on a Lower East Side pier becomes a new athletic facility and public waterfront esplanade.
THE PROJECT:
The Basketball City project converts 63,000 square feet of warehouse space on Pier 36 in Manhattan’s Lower East Side into a basketball-focused recreational facility. In addition to to providing youth camps, clinics, and tournaments, the location will serve as home court for 28 New York City Public School Athletic League basketball teams.
The facility itself will contain seven basketball courts, locker rooms and a special events area. Sustainable design components such as solar panels, composite wooden floors and energy-efficient lighting and insulation will be incorporated in the renovation of the existing space.
The site will also a feature a waterfront esplanade open to the public, extensive landscaping, and space for parking. The project will be an integral piece of New York City’s East River Waterfront Esplanade Project.
As part of the NMTC financing agreement between UFA and Basketball City, the 50 expected full-time positions to be created by the project will be filled by eligible low-income residents of the area sourced through a community board.
FINANCING:
- Total Project Cost: $15.2 million
- NCF Deployed Allocation: $6.0 million
- Total NMTC Allocation: $12.5 million
PROJECT PARTNERS:
- United Fund Advisors (National Community Fund I, LLC)
- Basketball City U.S.A., LLC
- US Bancorp Community Development Corporation
- New York City Economic Development Corporation