Madison Capital was approved by the Metropolitan Transportation Authority (MTA) to redevelop a 550,000-square-foot MTA-owned site into the authority’s first electric bus charging facility in the Bronx. The scope of the project includes constructing the core and shell for the electric bus charging facility.
The decision follows a Request for Proposals (RFP) in March 2022 that called for proposals to develop the land adjacent to the existing Gun Hill Road Bus Depot as part of a larger industrial development.
“Developing a new electric bus charging facility at Gun Hill Road Depot is another major step in the MTA’s ambitious effort to transition to a zero-emission bus fleet by 2040 – with benefits not only for the Bronx, but extending to the entire metropolitan area,” said MTA Chair and CEO Janno Lieber. “Mass transit is the antidote to climate change, and we’re making this site one of North America’s greenest industrial facilities.”
The depot will accelerate the MTA’s delivery of bus electrification and a goal of reaching a zero-emission bus fleet by 2040. Systemwide, work on the path to a full transition by 2040 includes taking delivery of the pilot buses from the agency’s 60 all-electric bus order, awarding the procurement of 470 all-electric buses, equipping bus depots with new state-of-the-art charging infrastructure to support the MTA's growing electric bus fleet and expanding a depot-based workforce training program for zero-emissions.
In addition to its direct benefits for the MTA’s electric fleet, the RFP encouraged bidders to incorporate energy conservation and green technology into its development, which will result in the installation of more electric vehicle technology within the larger development, as well as the placement of a solar panel array on the roof.
Madison Capital will fund the construction of the MTA facility and pay substantial ground rent towards MTA capital needs, supported by revenue that will be generated by the redevelopment of the under-utilized land. This project concerns only the unused development site at the south of the MTA’s property and will not impact the northwest portion of the site, which the MTA leases to a non-profit that provides little league baseball fields.
"We are honored to be chosen by the MTA for this transformative project," said Jonathan Nachmani, managing director at Madison Capital. “Our team is excited to work alongside the MTA and local stakeholders to make a lasting positive impact, setting a model for future urban renewal initiatives across New York City.”
