New Markets Tax Credit Coalition

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  • Ozone Park,
  • NY
  • (2017)

GMDC Ozone Park Industrial Center

District: Gregory Meeks (D-NY05)

Acquistion and construction/rehab of prodcution space for small and mid-size manufacturers.

Investment

  • NMTC Amount: $30,360,000
  • Total Project Cost: $38,746,904

IMPACT

  • 32 FTE jobs
  • 81 construction jobs
  • 260,000 sq. ft. of real estate

CDEs

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Investor

Project Description

The $42 million redevelopment project modernized an 85,000 square foot three-story, single-user historic industrial property to make it functional for multiple business – upgrading services and demising units. The GMDC Ozone Park Industrial Center received $10 million in New York City grant subsidies through the Industrial Developer Loan Fund, a $2.1 million grant from the Empire State Development, $10.5 million New Markets Tax Credit equity, and $6m Historic Rehabilitation Tax Credit equity.

External Profile

MAP

Address: 94-15 100th Street, Ozone Park, NY 11416

Census Tract: 36081011400

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