The Bronx’s first city-sponsored business incubator opened today in Taconic Investment Partner’s BankNote Building, according to an announcement by Mayor Michael Bloomberg. The Sunshine Bronx Business Incubator, at 890 Garrison Avenue in Hunts Point, has about 11,000 square feet and 180 workspaces wired with digital and video technology, which it hopes will accommodate as many as 400 entrepreneurs. Fifteen companies were already in place for today’s opening. [more]

Congressman Jose Serrano has taken 4,400 square feet at the BankNote office complex at 890 Garrison Avenue in the South Bronx. The 4,500-square-foot property is trying to attract small businesses to the area through a pre-built, affordable office program, offering suites between 1,000 and 5,000 square feet. It is also currently undergoing a $25 million renovation, which is slated for completion this year. Serrano’s office will be the first tenant when it relocates to the space in May. The asking rent was $27 per square foot. TRD

Top to bottom: the current BankNote building and a rendering of the potential outcome of the redevelopment

Taconic Investment Partners is moving in a new direction with its project at Hunts Point’s landmarked BankNote building. Taconic, along with Denham Wolf Real Estate Services, has made a multi-million dollar commitment to transform one of the South Bronx’s most iconic buildings into an epicenter of higher education, in an underserved community. The century-old structure is one of the largest in the South Bronx and is an enduring landmark in a neighborhood dominated by new structures. It was there that current Bronx Borough President Ruben Diaz chose to have his inaugural reception. “It’s a little bit of a departure from what we’ve done,” said Charles Bendit, co-CEO of Taconic. Bendit has teamed up with Paul Wolf, president of Denham Wolf, a non-profit real estate group. Bendit said on top of the $32 million they spent purchasing the BankNote commercial building at 890 Garrison Avenue in 2007, the development team plans to pour another $50 million into the project to transform portions of the building into educational use. [more]