Faviana, Garment District Dressmaker, Gets NYC Subsidies for LIC Move
Dressmaker Faviana International Inc has gotten NYC subsidies to relocate its Garment District office to Long Island City. The company, which was founded 17 years ago and is known for its prom and cocktail dresses, leases space at 500 Seventh Ave, but is facing pressure from rising rents in the evolving Midtown district, where TAMI tenants and hotels are driving demand. The dressmaker will get roughly $1.3M in city subsidies to acquire and renovate a 17.8k SF, two-story building at 31-10 Hunters Point Ave (pictured). The building will cost roughly $4.3M to purchase and another $260k to renovate, Crain's New York reports. According to its proposal to the New York City Industrial Development Agency, Faviana plans to build a loading dock at its new hub, to facilitate distribution of its 3,000 wholesale accounts and the growth of its online business. It will move eight of its 26 employees to LIC and hire four others over the next seven years. Its dresses are not manufactured in the city. Queens saw a 12.2% increase in the number of fashion jobs between 2009 in 2014. [Crain's]
