The Real Deal New York

Posts Tagged ‘economic development corporation’

  • Flushing Commons rendering

    Flushing Commons rendering

    Discussion has begun among locals and stakeholders on the effect the long-delayed Flushing Commons development will have on local retailers.

    At the first meeting of a task force launched by Queens borough president Melinda Katz, a local business association voiced concern that construction of the mixed-use project at the corner of 39th Avenue and Union Street will hurt sales at neighborhood stores. [more]

    Comments
  • manar

    Left: Gregory Fournier, Stanley Gale Jr., Joel Bergstein, Michael Samuelian, Kyle Kimball, Bill Rudin and Amir Korangy

    While international buyers have emerged as potential clients when developers are conceiving of a project, New Yorkers remain the primary demographic, according to some of the city’s top developers yesterday at the Manhattan Association of Realtors’ annual Global Real Estate Symposium.  [more]

    Comments
  • From left: Edward

    From left: Edward Inlow, Justin Ginsburgh and a CitiBike rack

    The head of New York City’s Citi Bike program resigned this week amid “financial and operational challenges” that could shut the bike-share business down. [more]

    2 Comments
  • Kyle Kimball

    Kyle Kimball

    New York City’s new mayor, Bill de Blasio, says it was “the right move” to keep Bloomberg administration veteran Kyle Kimball in his current job as president of the city’s Economic Development Corporation.

    Though de Blasio criticized exiting Mayor Michael Bloomberg’s development policies on the campaign trail, he said Tuesday that Kimball’s approach to the job was in line with the new administration’s progressive agenda. [more]

    1 Comment
  • 2040 Frederick Douglass Boulevard

    2040 Frederick Douglass Boulevard

    A former BP gas station in Harlem has been plucked by the New York City Economic Development Corporation for development as a mixed-use project with more than 50 apartments. [more]

    1 Comment
  • From left: A food startup hub in South Williamsburg and Cumberland Packing in the Brooklyn Navy Yard

    From left: A food startup hub in South Williamsburg at the former Pfizer factory and Cumberland Packing in the Brooklyn Navy Yard

    Brooklyn food manufacturing is expanding like a well-made souffle, but the industry is missing one key ingredient: space. About 38 percent of the borough’s manufacturers – many of which have taken space in shared commercial kitchens or food incubators – have had to leave the borough to rent additional manufacturing space, according to a survey released by City Council Member Stephen Levin, who is based in Brooklyn.

    Nearly 70 percent find their growth restricted by the limited production capacities at their manufacturing facilities in the borough, the survey found. [more]

    Comments
  • The EDC’s Seth Pinsky and Webster Avenue

    The city has a plan to revitalize a stretch of Webster Avenue in the Bronx, Crain’s reported. The plan aims to turn the 1.5-mile strip into a “Main Street” with new retail, mixed-income housing, a business incubator, pedestrian-friendly streets and cultural activities. [more]

    2 Comments
  • A rendering of the East River Waterfront Esplanade by ShoP Architects

    Four new sections of the $165 million East River Waterfront Esplanade will be ready to go in plenty of time for summer, a city official told DNAInfo. Scheduled for April openings are the glass-walled Maiden Lane pavilion, under the FDR Drive at Maiden Lane and South Street; a hunk of  riverfront pathway; and two pavilions on Pier 15, according to Terri Bahr, a project manager for the city Economic Development Corporation. The first section opened in July 2011…. [more]

    Comments
  • 2040 Frederick Douglass Boulevard

    Officials from New York’s Economic Development Corporation told residents from the North Star Neighborhood Association yesterday that there is plentiful interest in redeveloping the BP gas station site on 110th Street and Frederick Douglass Boulevard, DNAinfo reported.

    The EDC sought proposals in June to build on the 13,500-square-foot space at 2040 Frederick Douglass Boulevard. “We think we got a very robust response showing there is interest in developing the site,” Scott Solish, vice president of real estate for the EDC, said. [more]

    Comments
  • From left: EDC President Seth Pinsky and a SPURA rendering

    In the coming months, the New York City Economic Development Corp. will be seeking proposals from developers to put their stamp on the Seward Park Urban Renewal Area, Curbed reported. [more]

    1 Comment
  • David Lichtenstein

    The Lightstone Group has donated 11,309 square feet of office space at 1407 Broadway to businesses ravaged by Hurricane Sandy, Real Estate Weekly reported. The effort comes as part of a city program — Lightstone joined forces with the city Economic Development Corporation — to help these businesses get back to work.

    “We have seen so much devastation throughout New York City since Hurricane Sandy hit,” David Lichtenstein, Lightstone chairman and CEO told REW. “We wanted to do something meaningful, and felt it was important to donate office space to help businesses get back online.” [more]

    Comments
  • Piers of New York City

    The city is looking to clean up another neglected bit of New York’s infrastructure: its many piers and wharfs, the Wall Street Journal reported.

    The long-neglected wooden structures need further maintenance, in light of rising numbers of microscopic water worms, and other problems, city officials told the Journal. The New York City Economic Development Corp. issued a request for proposals yesterday for ways to inexpensively fix up the piers. [more]

    Comments
  • 2040 Frederick Douglass Boulevard

    Now that Harlem has improved, The Real Deal reported the city is seeking proposals for a gas station on a site it once owned yet was all too quick to give away in the neighborhood’s down years three decades ago. But the entrepreneur who took over the property filed a suit in Manhattan Supreme Court to block the Economic Development Corp’s plans, the New York Post reported.

    “They didn’t want it when it was in such terrible disarray over there, and now that things are good, they want to take it and do something different with it,” Carmie Elmore, who owns the BP station at the site told the Post. [more]

    Comments
  • From left: NYCEDC President Seth Pinsky and 65 Commercial Street (credit: PropertyShark)

    The city’s Economic Development Corporation is making a new attempt to develop a Greenpoint park by issuing a request for proposals from developers interested in buying air rights for part of the waterfront plot, DNAinfo reported. This development comes seven years after the EDC promised to deliver more than 30 acres of park land to the Williamsburg and Greenpoint neighborhoods; but money is tight and the city admitted that it didn’t have a concrete plan for a full park between the two neighborhoods. [more]

    Comments
  • From left: 346 Broadway, 49-51 Chambers Street and 22 Reade Street

    In the three months since the Economic Development Corporation issued requests for proposals for a package of city-owned buildings, some of New York’s top real estate firms — Vornado Realty Trust, Toll Brothers and Kushner Companies, among them — have toured the properties. Should those or other companies wish to bid on the Lower Manhattan properties, their proposals are due today.

    The 750,000-square-foot, three-building package is composed of 346 Broadway, 49-51 Chambers Street and 22 Reade Street. [more]

    Comments
  • The Closing with Seth Pinsky

    July 25, 2012 10:30AM

    Seth Pinsky

    From the July issue: As president of the New York City Economic Development Corporation, Seth Pinsky has worked on projects like the $2 billion CornellNYC Tech applied sciences campus on Roosevelt Island, the redevelopment of Willets Point and the new Yankees and Mets stadiums. Pinsky, who joined the EDC in 2003 as a vice president, was chosen five years later by Mayor Michael Bloomberg to head the agency. A graduate of Columbia College and Harvard Law School, Pinsky previously worked as an attorney in the real estate practice at Cleary Gottlieb Steen & Hamilton and as a financial analyst at the investment and advisory firm James D. Wolfensohn Inc. [more]

    Comments
  • From left: Attorney General Eric Schneiderman and EDC President Seth Pinsky

    Rather than ceasing to lobby following Attorney General Eric Schneiderman’s finding that the city’s Economic Development Corp. illegally lobbied to win redevelopment projects, the agency is restructuring to allow them to comply with the law, a spokesperson for the EDC explained (correction appended).

    Crain’s reported that the EDC has split into two entities, the New York City Economic Growth Corp. and the New York City Land Development Corp. By Aug. 1, the EDC will merge with the EGC, the advocacy arm, allowing the EDC to lobby for the first time since the attorney general launched the investigation. [more]

    Comments
  • New York State Attorney General Eric Schneiderman

    A three-year investigation into the lobbying efforts of the city’s Economic Development Corporation has concluded that the body illegally lobbied for developments in Queens and Brooklyn, the New York Times reported.

    The office of the state attorney general, Eric Schneiderman, found that the EDC “played a behind-the-scenes role,” backing two groups that lobbied for Willets Point and Coney Island projects. The groups admitted fault, the Times said, and no civil or criminal penalties will be imposed. [more]

    Comments
  • Sterling's Fred Wilpon and the Willets West retail center

    Did the Related Companies and Sterling Equities have an unfair advantage in securing the bid to develop Willets Point? Sources told the Queens Times Ledger that none of the other bidders were aware that land to the west of Citi Field, which is currently used as a New York Mets parking lot and owned by the Wilpon family that heads Sterling Equities, was up for development. That’s where the partnership plans a 1 million-square-foot retail and entertainment complex called Willets West. [more]

    Comments
  • The city’s Economic Development Corporation wants proposals from developers who would like to build and maintain underutilized industrial plots in three New York City boroughs. These include 95,000 square feet at 2399 Watson Avenue in the Bronx’s Zerega section, 80,000 square feet in East New York, Brooklyn, 53,000 square feet in Sunset Park, Brooklyn and 40,000 square feet in Queens’ College Point Corporate Park at 28th Avenue and 122nd Street. Each site is eligible for sale or lease. [more]

    Comments
MENU