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Mayor Zohran Mamdani named Tony Shores president of the New York City Economic Development Corporation (EDC) and Lena Khan board chair, and the pair said EDC will prioritize five city-run grocery stores, an affordable-housing insurance program and community engagement as the agency’s new direction. Source: https://youtu.be/PJKm1KTjWCw&t=98
# What’s happening
– Mayor Zohran Mamdani appointed Tony Shores as EDC president, effective July 22, 2026.
– Lena Khan was named chair of the EDC board, effective July 22, 2026.
– EDC will prioritize five city-run grocery stores and economic-justice initiatives immediately.
# Why it matters
– Low-income shoppers and neighborhood grocery access will be directly affected by grocery-store plans.
– Affordable-housing providers and renters may see reduced insurance and operating costs if programs launch.
# Key details
– Announcement date: July 22, 2026; location: City Hall Rotunda.
– EDC to implement five city-run grocery stores, one in each borough.
– EDC-affiliated affordable housing insurance program budgeted at roughly $100 million.
– EDC launched an RFP for modular public restrooms earlier in the administration.
– Hunts Point Produce Market and the New York City ferry system remain under EDC management.
Tony Shores
– Role or jurisdiction: President, New York City Economic Development Corporation (EDC).
– Action taken or responsibility: Appointed July 22, 2026; charged with refocusing EDC on “economic justice.”
– Relevant numbers or dates: Will work on five city-run grocery stores; incoming agenda starts July 2026. Source: https://youtu.be/PJKm1KTjWCw&t=98
Lena Khan
– Role or jurisdiction: Chair, EDC board of directors.
– Action taken or responsibility: Appointed July 22, 2026; will oversee board direction and accountability.
– Relevant notes: Former Federal Trade Commission commissioner; cited by the mayor for consumer and competition experience. Source: https://youtu.be/PJKm1KTjWCw&t=1030
The mayor announced the appointments and framed EDC as central to his affordability and economic-justice agenda. Source: https://youtu.be/PJKm1KTjWCw&t=98
Both appointees identified city-run grocery stores as an early, explicit priority for the next 12 months. The mayor and Tony Shores cited the five-store plan during the announcement. Source: https://youtu.be/PJKm1KTjWCw&t=338
Tony Shores said EDC must improve community engagement and use its tools to deliver housing, jobs, and public goods, and that he would be working with Deputy Mayor Julie Sue and Lena Khan to set the agency’s direction. Source: https://youtu.be/PJKm1KTjWCw&t=585
EDC staff and the mayor pointed to an existing affordable-housing insurance program that the agency is preparing to run, describing roughly $100 million committed “over a few years” to lower insurance costs for affordable housing providers. Source: https://youtu.be/PJKm1KTjWCw&t=1502
The EDC interim leadership and appointees also highlighted recently launched operational work the agency will continue, including an RFP for modular public restrooms and management responsibilities for Hunts Point and the New York City ferry system. Source: https://youtu.be/PJKm1KTjWCw&t=261
When asked whether EDC’s portfolio would shift away from past projects, Tony Shores and the mayor said some projects from EDC’s history “we wouldn’t do or would do differently,” but they did not name individual projects or announce any cancellations. Tony and the mayor said which projects, if any, would be rescoped or stopped remains to be decided. Source: https://youtu.be/PJKm1KTjWCw&t=2158
In earlier EDC and City Council briefings, Hunts Point redevelopment, Kingsbridge Armory, waterfront resiliency projects and World Cup-related infrastructure were described as ongoing multi-year commitments; the new EDC leadership said those kinds of long-running projects will be reviewed but gave no timetable for changes. (Earlier coverage: EDC preliminary budget hearing, March 17, 2026.) Source: https://youtu.be/g8mc6GAfK9I&t=865
What is certain from the July 22 announcement: city-run grocery stores, a housing-insurance program intended to lower operating costs for affordable housing, and strengthened community engagement are explicit early priorities; no named EDC project was announced as being scaled back or stopped during the press conference. Source: https://youtu.be/PJKm1KTjWCw&t=338
If EDC staff pursue project changes, the administration said they would be driven by the mayor’s economic-justice goals and by “listening to the communities we affect,” but implementation details and specific project decisions were left for future planning and public briefings. Source: https://youtu.be/PJKm1KTjWCw&t=585
Notes on timelines referenced outside the July 22 announcement: the administration previously said the first city-run grocery store would open in 2027, with additional stores through 2029; budget materials in City Hall hearings have placed capital allocations for grocery stores in fiscal planning documents. (External to this July 22 meeting; earlier statements from April 2026 and FY27 budget hearings.) Source: https://youtu.be/2mD4zvJCL5g&t=1404 and https://youtu.be/hE5u5tXZ_xE&t=164
No further project-specific decisions were announced at the July 22 press conference; reporters were told the new leadership will set priorities in the coming months and return with concrete plans. Source: https://youtu.be/PJKm1KTjWCw&t=2158
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