The Real Deal New York

This month in real estate history

A look back at some of New York City's biggest real estate stories

February 14, 2014 04:30PM
By Adam Pincus

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Gov. Nelson Rockefeller

Gov. Nelson Rockefeller

From the February issue: Rocky proposes $6B urban revitalization plan in 1968

New York Gov. Nelson Rockefeller outlined a plan for a new non-profit, public-private corporation that was projected to spend $6 billion or more to redevelop impoverished areas of the state, including New York City, 46 years ago this month.

Rockefeller said the “revolutionary” Urban Development Corporation would have the authority to sell bonds to support the projects, obtain land through eminent domain and circumvent local zoning rules. [more]