THE BRONX - A plan to develop the Kingsbridge Armory as "the world's largest indoor ice skating center" has frozen over with no apparent thaw in sight.

KNIC Partners, the group trying to develop the armory, has encountered many roadblocks in the $320 million project.

The city's economic development corporation has not handed over the keys to developers, claiming they have not fully secured funding for the first phase of the project.

As a result, KNIC has sued the city for allegedly delaying development on purpose. The developers' lawyers say the group does in fact have funding for the project via a loan from state lawmakers and private investors.

According to a city spokesman, "The City and EDC remain committed to the Kingsbridge National Ice Center. We continue to believe that the developer must secure full funding for the project's first phase to ensure it becomes a reality." 

The two parties are reportedly negotiating at this time. However, the last court hearing was reportedly canceled and has not yet been rescheduled.

Meanwhile, tenants and local businesses say the development plan is causing their rents to spike and will eventually force them out.

However, not all Bronx residents are against the plan.

"The armory just sitting there doing nothing is a detriment to the community," says Ivan Braun, a volunteer with the Northwest Bronx Community and Clergy Coalition, who tried to explain the project to Bronx residents Sunday at a resource fair.