The Kingsbridge Armory is an historic building and worth a fortune in terms of potential, but right now it's empty.
It is a hulking five acre site that has stood for nearly 100 years, but for the last 15 years, the Kingsbridge Armory has been vacant.
The enormous Romanesque structure is a city landmark, and on the national register of historic places, but it is rotting away.
Two years ago, a developer proposed turning the armory into a mall.
The Bloomberg administration pushed for the $310 million project saying it would create over a thousand jobs.
But, the Bronx borough president killed the deal, saying those jobs were low paying.
The dispute has led to a new fight in another neighborhood.
The borough president wants to move a National Guard unit that still uses a portion of the armory into a vacant army reserve building in Wakefield.
But, the city wants to convert that space into a 200-bed homeless shelter for men.
Critics say they neighborhood already has its fair share of homeless units.
For now, it appears the borough president has won another round.
By skipping a key vote Wednesday, the shelter plan is on hold.