Vornado to redevelop West Side trade show facility

Vornado Realty Trust has been selected to redevelop and expand the
West Side trade show facility between 51st and 54th streets on the
West Side Highway.

The New York City Economic Development Corporation chose Vornado and
its subsidiary Merchandise Mart Properties to expand the facility,
currently on Pier 94, to include Pier 92. The project is expected to
create 355,000 square feet of trade show and conference space.

For the past decade, a trade show facility has operated on Pier 94.
But the city said a lack of trade and consumer show facilities in New
York City led to billions of dollars in lost business.

“Each year, New York City loses out on billions of dollars because we
don’t have an adequate trade show facility,” City Council Speaker
Christine Quinn said in a statement.

According to the NYCEDC, conventions last year brought almost 4
million visitors to the city and contributed more than $4 billion to
the local economy.

The city hopes the expanded West Side facility will host at least 40
conventions annually. Attendance at these shows is expected to grow to
more than 300,000 per year by 2013.

The redevelopment project will feature a 125,000-square-foot trade
show space on the ground level and second floors of Pier 92, in
addition to 85,000 square feet on Pier 94 and 145,000 square feet in a
rebuilt head house.

The project will also include a 9,300-square-foot winter garden and
open space around the perimeter of Pier 94. A 60,000-square-foot
logistics center on Pier 92 will accommodate loading and unloading,
storage and other back-of-the-house functions.

Vornado was expected to sign a 49-year lease for the piers, with two
25-year extensions. Construction will be phased to allow trade shows
to continue operating.

Vornado’s development team on the project also includes Dattner
Architects, SMWM Architects, and traffic consultants Philip Habib.