The in Troy, Michigan, has announced a $10 million equity investment in the Kingsbridge National Ice Center in the Bronx, New York.
The investment will support redevelopment of the city-owned Kingsbridge Armory in the Bronx, the poorest of New York City's five boroughs, into the world's largest indoor ice center, complete with nine rinks, a health and training facility, and a 50,000-square-foot community center. According to the most recent census, 29 percent of Bronx residents live below the poverty level. Scheduled for completion in 2017, the project is expected to create 260 permanent jobs and 890 construction jobs in the neighborhood.
"This investment is further validation of our mission to help revitalize the Kingsbridge neighborhood and the Bronx," said Kingsbridge Ice Center CEO and former New York Ranger captain Mark Messier. "Kresge is one of the most prestigious and successful foundations in America. Its decision to invest in the Kingsbridge National Ice Center represents a ringing endorsement of the contributions made to this project by civic leaders and the community."