Harlem Business Incubator

Harlem Restoration Project, Inc. (HRP) in association with Steven M. Schwartz, Inc. have been working for the last five years to package an exciting initiative called the Harlem Business Incubator. The Incubator will provide Harlem businesses with access to small, low cost spaces, with supportive business services and shared facilities.

We have secured $3.8 million in capital grants from the City of New York and $294,000 in capital grants through the Manhattan Borough President's Office. HRP has raised more than $300,000 in grants for pre-development expenses. With a proposed contribution of $750,000 in Empowerment Zone funds, we will have completed the funding package, allowing HRP to proceed with the design and construction of the Incubator.

The Incubator will be located in the former Taystee Bakery, a 133,000 square foot six building complex, located between 125th and 126th Streets and Morningside and Amsterdam Avenues. The project is planned for two phases. In the first phase, 40 incubator units of 1,500 square feet each will be created. In the second phase, scheduled for three years after the completion of the first phase, two buildings with a total of 40,000 square feet will be renovated as "graduation" space with larger unit sizes for successful expanding firms who desire to remain in the community.

The target market for the Incubator is start-up and fledgling businesses, such as those identified in our market survey, that are already located, or plan to do business, in the Harlem community. The types of businesses to be targeted include service, office and light manufacturing tenants.

The Incubator will provide onsite access to shared facilities such as fax and copying machines, and a shared conference room. The Incubator will also have technical assistance located onsite, provided by a small business development center.

Harlem Restoration Project (HRP), a 501 (c) (3) organization, was founded in 1977 for the purpose of improving the quality of life in West Harlem. HRP has a staff of twenty and a 1995 budget of $1.9 million. Currently, HRP manages 23 buildings, with a total of 540 units. Almost all are occupied by low-income tenants. In the course of managing these buildings HRP has supervised repairs and essential services, including the provision of electricity, heat and hot water, new plumbing, new roofs, security systems and other building repairs and total renovations.

Harlem Restoration Project and the Harlem Business Incubator are members of the National Business Incubator Association

The following Fact Sheet contains additional information about the Harlem Business Incubator.