Search Results for: Economic Development

Developer sought for Phase 1 of Willets Point District

 

City targeting 12.75-acre site adjacent to Citi Field for first phase of construction. On May 9, 2011, The City’s Economic Development Corporation issued a request for proposals seeking a developer for Phase 1 of the Willets Point District redevelopment plan in Queens. The triangle-shaped Willets Point District comprises 61.4 acres generally bounded by Northern Boulevard, the Van Wyck Expressway, and 126th Street. The contentious redevelopment plan was approved by the City Council in November … <Read More>

RFEI issued for vacant Corn Exchange building

Image: Courtesy of Cityland.

City is in process of reclaiming landmarked building after owner failed to redevelop property. On March 22, 2011, the City’s Economic Development Corporation issued a request for expressions of interest for the purchase and redevelopment of what remains of the landmarked Corn Exchange Building at the corner of East 125th Street and Park Avenue in East Harlem. The Lamb & Rich-designed six-story building was built in 1884 and has deteriorated significantly … <Read More>

Audit cites EDC for Water Club’s lease violations

EDC faulted: Comptroller found waterfront restaurant violated lease’s revenue- reporting and site-improvement requirements. An audit by City Comptroller John C. Liu concluded that MDO Development Corporation violated its lease agreement for a City-owned site occupied by the Water Club restaurant along the East River between East 30th and 32nd Streets in Manhattan. The audit found, among other things, that MDO did not accurately report revenue from the restaurant and failed to make required site improvements. … <Read More>

City Council considers impact of Wal-Mart

Concerns about how big-box retailer would affect small businesses dominated hearing. On February 3, 2011, the City Council’s Community Development Committee, Small Business Committee, and Economic Development Committee held a joint oversight hearing to debate Wal- Mart’s impact on the local community if the big-box retailer opened a store in the City. The Council convened the hearing in response to Wal-Mart’s renewed campaign to open a store in the City. Community opposition caused Wal-Mart to … <Read More>

East River ferry service contract awarded

Image: Courtesy of NYCEDC

EDC awarded $9 million contract to BillyBey Ferry Company to provide new ferry service to Brooklyn, Manhattan, and Queens starting in Spring 2011. On February 2, 2011, the City’s Economic Development Corporation awarded BillyBey Ferry Company a three-year $9 million contract to provide expanded ferry service along the East River. Billybey, operating under the NY Waterways brand, will make seven regular stops connecting riders to Brooklyn, Manhattan, and Queens. The stops … <Read More>

Lower court reversed; Piers project moves forward

First Department rules NYSDEC was not an “involved agency” in project’s environmental review. In 2008, the City’s Economic Development Corporation selected MMPI Piers LLC, a subsidiary of Vornado Realty Trust, to renovate Piers 92 and 94 along the Hudson River between West 52nd and West 55th Streets in Manhattan. The piers have been used as exhibition space and for trade shows, and Pier 92 has served as a cruise ship dock when Piers … <Read More>