The Real Deal New York

Related proposes to install community college as Moynihan Station anchor tenant

February 05, 2013 11:00AM

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Stephen Ross and the Farley post office

Plans to transform the James A. Farley post office at 421 Eighth Avenue into a grand entrance to Penn Station have long been afoot. Now, the Related Companies, which was selected alongside Vornado Realty Trust eight years ago to develop the property, is championing a proposal to make those plans more viable, the New York Times reported.

Related, headed by Stephen Ross, has proposed bringing “Moynihan Station” to life by relocating the Borough of Manhattan Community College by 3.8 miles to the rear of the post office building, where it would be the complex’s anchor tenant. Under the new proposal, the developer would also construct a new train hall, train platforms and underground connections to Penn Station at the front end of the post office.

Related’s residential development arm would benefit from the project, which would bring a multitude of students to live in the area.

Despite spending more than 12 months meeting with college officials, Ross has yet to persuade some of the value of his plan. The City University of New York, which operates the college, has shown some resistance to the proposal, the Times said. [NYT] Katherine Clarke

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