270 Park Avenue. Image Credit: Google Maps.
JPMorgan Chase intends to pursue building a new 2.5 million-square-foot headquarters at its 270 Park Avenue location. On February 21, 2018, Mayor Bill de Blasio and JP Morgan Chase Chairman and CEO Jamie Dimon announced the construction of a new 2.5 million-square-foot headquarters at its 270 Park Avenue location in Manhattan, which will be the first project under the City’s innovative East Midtown Rezoning plan passed in 2017. Under the East Midtown rezoning, JPMorgan Chase will purchase development rights from landmarks in the surrounding district in order to build a larger building. The new building would have a modernized infrastructure and design, including 21st century systems and technology. (read more…)
Mayor Bill de Blasio. Image Credit: NYC Mayor’s Office.
Small businesses will now receive free legal services for issues related to a business lease. On February 6, 2018, the de Blasio administration announced the launch of the new Commercial Lease Assistance Program, which will offer assistance to small business owners with lease negotiation, landlord issues, lease renewal, and eviction notices. Non-franchise businesses that meet an income requirements will be eligible for this program. (read more…)
Mayor Bill de Blasio. Image Credit: NYC Mayor’s Office.
A $200 million investment will be used to replace boilers and upgrade heating systems at 20 NYCHA developments. On January 31, 2018, Mayor de Blasio announced the investment aimed at assisting NYCHA developments experiencing chronic outages. The $200 million investment is part of the Mayor’s investment in NYCHA including $2.1 billion in capital infrastructure and $1.6 billion in operating funds. The upgrades are expected to save NYCHA approximately $5 million per year in energy costs. (read more…)
Mayor Bill de Blasio and NYCHA Chair & CEO, Shola Olatoye. Image Credit: NYC Mayor’s Office.
Facing the recent below-freezing temperatures, Mayor Bill de Blasio has committed to help with NYCHA’s response to heating emergencies and failing equipment with a substantial investment. On January 18, 2018, Mayor de Blasio announced a $13 million investment to assist the New York City Housing Authority response to heating outages and replace equipment. The investment will allow NYCHA to replace malfunctioning boiler systems, acquire mobile boilers for emergencies, hire repair staff, and repair windows to prevent heat loss. (read more…)
The constructed and preserved affordable housing units by borough. Image credit: The Office of Mayor Bill de Blasio
The Mayor’s Administration is ahead of schedule in achieving its goal to build 200,000 affordable homes in 10 years. On July 26, 2016, Mayor Bill de Blasio announced an update on the progress that has been made to achieve the goals set forth in his Housing New York plan, which seeks to build 200,000 affordable homes in 10 years. The Housing New York plan met the conclusion of its second fiscal year on June 30, 2016. For CityLand’s previous coverage on the Housing New York plan, click here and here.
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