SoBRO: South Bronx Overall Economic Development Corporation

Tony Riccio Jr., SoBRO’s Chairman of the Board, has been selected by the NYC Brownfield Partnership for the Big Apple Brownfields Award in Economic Development. Mr. Riccio is being honored for his work with Harlem River Yards Ventures (HRYV) and their efforts over two decades to clean-up and develop formerly hazardous and unused land in the Port Morris section of the South Bronx.
In 1991, HRYV, a subsidiary of the Albany based developer – the Galesi Group, entered into a long term land lease with the New York State Department of Transportation for 96 acres of former Penn Central Rail yards. HRYV carried out all remediation procedures to the furthest extent. The environmental impact statement (EIS) was performed using worst-case scenario models for the heaviest possible future land use. By performing a singular, comprehensive EIS, HRYV achieved a cost saving of $750,000 and a time savings of up to five years. The procedure was so effective that it has been adopted throughout New York State. Remediation procedures, including site-wide topfilling and a new state-of-the-art drainage system, were performed with an extremely high regard for long-term environmental safety and possible future use.
To date the economic impact of the development of this former 96 acre Brownfield has been substantial, including:
• The development by the NY Post of a $300,000,000 color printing facility on 16 acres creating 400 jobs which utilizes rail for delivery of newsprint.
• The development by Waste Management of a 13 acre $75,000,000 solid waste transfer facility creating 50 jobs which utilizes rail for shipment of solid waste to out of state landfill facilities.
• The recently opened $50,000,000, 10 acre Federal Express distribution facility which has created 274 new jobs and utilizes rail for movement of packages to the facility for distribution center.
• The reserve of 28 acres of land for future development of a full Trailer To Flatcar Facility (TOFC) intended to ship produce from Washington State and California to the Hunts Point Produce Terminal.
Of the original 96 acres only 12.6 acres remain for additional development.
As Senior Vice President of the Galesi Group/Harlem River Yard Ventures, Inc., Mr. Riccio was instrumental in guiding this project forward and enforcing nothing less than the highest standards of operation and planning.
The Third Annual NYC Big Apple Brownfield Awards Ceremony will take place on May 25th, 2011 from 5:00-8:00 PM at the Greenberg Lounge-Vanderbilt Hall, located inside the NYU School of Law at 40 Washington Square South, New York. The evening will begin with an NYC Brownfield Partnership Meeting and Open Networking, followed by the Awards Ceremony at 6:00 PM.