The Home Depot Inc. may walk away from long-standing plans to open a 100,000-square-foot store at East River Plaza, a major new development from Forest City Ratner Cos. and Blumenfeld Development Group.
Last week, Atlanta-based Home Depot acknowledged that it is reconsidering its lease in the 500,000-square-foot development, located on six acres adjacent to Franklin D. Roosevelt Drive.
“We are re-evaluating this site to determine if it still makes sense for our business,” a Home Depot spokeswoman says.
Read the rest of the story on Crain’s New York
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Posted in: Business/Finance
Anonymous
April 2, 2008
I disagree. We don’t need Harlem looking like New Jersey. A Costco would’ve actually been a better choice, until they backed out. They would’ve seen great business. Nothing like buying cheap, and bulk. Home Depot’s numbers aren’t that great. I have no idea why they even signed onto the project in the beginning, when we’re in the middle of a recession. People are not decorating, and re-decorating their homes like that! Target is already here. They’re in Downtown Brooklyn, as well as The Bronx. Just a 1 train ride away.
Anonymous
March 31, 2008
Are u kidding? We need businesses like Home Depot, Target, etc. to come to the neighborhood.
Anonymous
March 31, 2008
the whole plan is a bad idea. glad they’re backing out.