Office Space News
Sunshine Suites Partners with Bloomberg on Incubator
Published November 5th, 2010 by Jennifer LeClaire
New York City Mayor Michael Bloomberg broke ground this week on the first city-sponsored business incubator to help small businesses get off the ground. Sunshine Suites is right there to help make it all happen.
Dubbed the Sunshine Bronx Business Incubator, the facility will be located in the historic BankNote Building at 890 Garrison Avenue in Hunts Point. When completed, the incubator will be able to host up to 400 entrepreneurs from the Bronx and across New York City over the next three years. The doors should open expected by February 2011.
“There is no city more welcoming to entrepreneurs than New York, but we know well that some challenges like the cost of physical space can make starting and growing a business difficult,” says New York City Deputy Mayor Robert Steel. “Our network of incubators are designed to address that need and make things easier.”
Sunshine Realty Management inked a 10-year lease with Taconic Investment Partners to make the incubator a reality. Sunshine expects the office space to be self-sustaining within the first three years. There is about 11,000 square feet of office space in the soon-to-be-open Sunshine Bronx Business Incubator—room enough for 180 workstations. The incubator will offer desks and coworking space for freelancers. From a practical perspective, incubator tenants will be able to lease space on a month-to-month basis. Desks will initially rent for $295 per month. Co-working stations at $195 per month.
“Sunshine Suites has built a reputation at its two Manhattan locations as the place where start-ups grow-up,” says Sunshine Suites Co-Founder Cheni Yerushalmi. “Now, with our partners, we are bringing our affordable, scalable workspace model to Hunts Point, so we can offer a home to current and future entrepreneurs.”
The incubator will also offer conference rooms, bi-weekly networking events with tenants across all Sunshine locations in New York City, and support services including mentoring, coaching, and business training. Sunshine has partnered with Baruch College’s Lawrence N. Field Center for Entrepreneurship, and its associated Baruch Small Business Development Center to provide support services including assistance in developing business and marketing plans, evaluating and selecting funding alternatives, accounting systems, and technology, supervising employees, and studying the implications of business decisions for all of its incubator tenants.
This is an outstanding move by Sunshine Suites. The serviced office company is getting noticed by the New York City government, New York City entrepreneurs, New York City educators and the like. This is a win-win for everyone. Entrepreneurs can tap into office space at affordable prices and graduate to Sunshine Suites other locations when they are more established. What a great economic development strategy! These are the kinds of initiatives that put executive office suites, coworking and hotdesking on the map in an even greater way.
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Bill Brookshire November 10th, 2010 at 9:28 am
Wow! That is really a great win for Sunshine. It’s not just about renting out a few cubicles in an office space. It’s about partnering with the New York City government to help spur economic development. I can imagine that gets Sunshine Executive Suites plenty of kudos with important people. You can’t buy those kinds of relationships. Sunshine Executive Suites is building them the right way–to the benefit of many.
Elizabeth Sanchez November 10th, 2010 at 4:11 pm
I agree with @Bill. That’s a pretty smart move. And not only are they getting in good with Bloomberg, they are also introducing their brand to innovative entrepreneurs who will remember where they started. Lots of good will in a venture like this. Sunshine Executive Suites is masterful in making its way into this process.
Sunshine Bronx Press! November 16th, 2010 at 7:09 am
[...] us to create a dynamic, unbeatable price that will show the potential of the Bronx”) and A Better Office (” ‘Sunshine Suites has built a reputation at its two Manhattan locations as the place [...]