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Harlem Luxury Hotel Backed by Emmitt Smith Earns Federal Financing Approval

By Carla Zanoni | June 10, 2010 7:43am | Updated on June 10, 2010 7:57am
The former Dallas Cowboys and Arizona Cardinals player wants to build a luxury hotel and retail space in Harlem.
The former Dallas Cowboys and Arizona Cardinals player wants to build a luxury hotel and retail space in Harlem.
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By Carla Zanoni

DNAinfo Reporter/Producer

HARLEM — A proposed 200-room luxury hotel in Harlem backed by former football player Emmitt Smith received preliminary approval Wednesday for nearly $20 million in federal tax-exempt financing.

The Board of the New York City Capital Resource Corporation approved Smith's company, ESmith Legacy Harlem LLC, to receive up to $19.7 million in Recovery Zone Facility Bonds to use towards construction and development of the project at 100 West 125th Street.

“The proposed development in Harlem would transform a vacant site into a vibrant mixed-use building that would serve both residents and visitors alike,” said NYCCRC Chairman Seth Pinsky in a statement.

Smith, who won three Super Bowls with the Dallas Cowboys in the 1990s, proposed building an estimated $80 million, 100,000-square-foot hotel on a vacant lot on 125th Street. If the project is approved, construction could begin as soon as this September.

The project would also include approximately 70,000-square-feet of retail space and 50,000 square feet of community amenities. Smith's company is hoping to add Whole Foods and a Hyatt hotel to the development plan, Crains New York reported. However, representatives from both companies would not confirm any Harlem construction plans.

Labor officials are in favor of the project, which could create 129 construction jobs and 81 new permanent positions, according to the New York State Economic Development Corporation.

However, not everyone is on board.

City Comptroller John Liu voted against federal funding for the project last week. Liu said the group’s proposal was not specific enough about the developer’s plans for the site, the Wall Street Journal reported.

"Looking at it for two seconds leads you to wonder if all applications for $20 million of financing have a similar appearance," Liu said during a public meeting on the proposal last week, referencing several blank areas left on the application.

Liu's office did not immediately return calls for comment about Wednesday's preliminary financing approval.

Lynette Velasco, chief of staff for City Councilwoman Inez Dickens, said that her office also has concerns about the project, but is pleased by the developer’s willingness to discuss plans and work together to find the best way to suit the community’s needs.

“We know that in order for something to work here you need a good anchor space,” she said, “but we also need to find a way to serve the needs of Harlem’s indigenous population as well.”