A recent article on the NewYorkConstruction.com web site describes a new $2.2 million construction project approved by the New York City Capital Resource Corporation to develop a cultural and arts center in the center of Harlem ("NYCCRC Approves $2.2 Million for Harlem Arts and Cultural Center"). The project site is the Kalahari Condominium, where an 18,000-sq-ft MIST will include several important components; an African/Latino fusion restaurant will be a primary attraction, and there will be a conference area and performance space, as well as three screening rooms and studios where students can be trained in digital media post production for the film industry ("NYCCRC Approves $2.2 Million for Harlem Arts and Cultural Center"). The Kalahari Condominium is a residential unit that is LEED-certified and green and that has been on hold since its 2008 completion date because conventional financing was not available; now the February 2009 American Recovery and Reinvestment Act passed by Congress will provide the financing, along with 25 new construction jobs ("NYCCRC Approves $2.2 Million for Harlem Arts and Cultural Center").
This project will provide a much-needed boost to the area's employment rate, as it will supply 50 new jobs for the Central Harlem community when completed, as well as creating youth training programs and bringing together the Latino and African cultures resident in Harlem ("NYCCRC Approves $2.2 Million for Harlem Arts and Cultural Center"). The project will be funded by $3.9 million in conventional financing, $2.9 million in New Market Tax Credits, and $600,000 in developer equity and is expected to generate more than $2.2 million for the city ("NYCCRC Approves $2.2 Million for Harlem Arts and Cultural Center").
The implications of this project for the Harlem community are larger than just the jobs it will provide. It will unite the Latino and African cultures and provide a central loc...