By David Cruz

A powerhouse philanthropist group is adding some financial investment for the Kingsbridge National Ice Center, an allocation that serves as a validation the project is not on “thin ice” despite a lawsuit endangering the project.

The Kresge Foundation, a Detroit-based institutional equity investment firm, has agreed to be the lead investor in a $30 million equity raise for KNIC, a project that’s estimated to cost $350 million to build, according to sources close to the deal.

“The Kresge Foundation is one of the most prestigious and successful foundations in America,” said Messier in a statement. “Its decision to invest in the Kingsbridge National Ice Center represents a ringing endorsement of the contributions made to this project by civic leaders and the community.”

The move downplays calls from naysayers who suspect little to no financial support has been given to KNIC, who’ve long charged that it does have enough financing in place. The money by the Kresge Foundation, known to aid disadvantaged neighborhoods, is part of the group’s “social investment” strategy that looks to prop up poor communities such as Kingsbridge.

“Our philanthropic goal is to improve the health and well-being of low-income adults and children,” said Robert Manilla, Kresge’s vice president and chief investment officer. “The Kingsbridge project advances both our endowment and our mission.”

The endowment comes amid a pair of lawsuits between lead developer Kevin Parker, and three principals who each claim they created the ice skating complex idea. So far, the cases have gone through the legal channels with no outcome.

The city Economic Development Corporation maintains the project will proceed as planned.