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NEW YORK, New York — After a ten year stay, former President Bill Clinton is moving the headquarters of his William J. Clinton Foundation out of “The Black Capital Of America.”

Though Clinton will reportedly be keeping a small office on Harlem’s West 125th street, most of his nonprofit foundation will be moved downtown to the financial district. Citing the need for space and cost-cutting, the move is expected to be finalized in the next few weeks.

“Price was probably the most paramount factor,” said Roshan Shah, senior vice president at CB Richard Ellis, the real estate firm charged with negotiating the foundation’s move.

NY Observer reports:

The move will also allow the foundation to expand from 18,000 square feet to 25,000 square feet, while occupying a single floor instead of potentially being spread out over five. “With every crisis that occurs in the world, when something happens in Haiti,” for example, they need more staff, Mr. Shah noted. “They’ve grown tremendously in terms of size.”

A beloved tenant, Mr. Clinton was welcomed by thousands of Harlem residents in 2001. His foundation has led a number of charitable efforts, including the Harlem Small Business Initiative, child survival programs in Africa, and relief funds for victims of natural disasters around the world.

The presence of the former President also had some unintended consequences, angering longtime Harlem residents who were upset about the subsequent rise in the neighborhood’s property values.

Next week NewsOne will be hitting the streets of Harlem to see if people are sad to see “Bubba” go or if it’s good riddance!

Be sure to check it out on the next edition of On The Corner.

RELATED:

Clinton-Led Reconstruction Commission Starts Up In Haiti

Clinton Spokesman Resigns After WikiLeaks Comment

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