THE BRONX, N.Y. (PIX11) — After sitting vacant for decades, a major re-development project is now in store for The Bronx’s Kingsbridge Armory. New York City and New York State contribute $100 million to the plan. 

“ll of this madness of forgetting the Bronx ends today,” New York City Mayor Eric Adams said during the announcement Tuesday morning.

Bronx Deputy Borough President Janet Peguero worked on the effort to reimagine the Kingsbridge Armory.

“For me, as a kid that grew up, up and around the area of the kings bridge armory, it’s truly an exciting time,” Peguero told PIX11’s Ayana Harry.

The $200 million investment will transform the space into a new business hub, from film and TV to urban agriculture.

“The plan has the potential to create over 1800 jobs for Bronxites and up to $10 billion in economic impact; this can be the anchor for The Bronx,” said Adams.

New York City’s Economic Development Corporation will begin taking proposals from developers who want to participate in the project next month.