The project will redevelop this historic landmark with approximately 897,860 sq ft of new uses including 377,235 sq ft of both neighborhood and destination retail and restaurant space including a seasonal farmers’ market, 57,485 sq ft ofentertainment uses in the form of a cinema, 33,240 sq ft of fitness club space, and 27,000 sq ft of community facilities. 164,285 sq ft of public parking that will include 437 spaces will also be provided in the armory’s basement levels as well as a new, one acre public open space that will be developed next to the armory building, at the intersection of West Kingsbridge Road and Reservoir Avenue calling for a portion of Reservoir Avenue southwest of the armory building to be removed from the city map.

The redevelopment of the 92-year-old building will create 1,200 permanent jobs and more than 1,000 construction jobs and is part of the city’s Five Borough Economic Opportunity Plan, a comprehensive strategy to bring New York City through the current economic downturn as fast as possible focusing on three major areas including creating jobs for New Yorkers, implementing a long-term vision for growing city’s economy, and building affordable, attractive neighborhoods in every borough.

The new retail complex is expected to be complete and operational in 2013.