The mysterious donor whose $350 million gift will go towards the creation of Cornell University’s 2 million-square-foot applied science and engineering campus on Roosevelt Island is Atlantic Philanthropies, a charitable organization founded by billionaire Charles Feeney. Feeney, who made billions of dollars through co-founding the Duty Free Shoppers Group, graduated from Cornell’s School of Hotel Management in 1956, the New York Times reported, and has been consistently making donations to his alma mater.

The $350 million gift was announced this past Friday, followed by the mayor yesterday announcing the selection of Cornell and Technion-Israel Institute of Technology to build a city campus. [more]

Plans for the 1,000-seat Joyce Theater and performing arts space at the World Trade Center site have stalled as the Bloomberg administration waits for Gov. Andrew Cuomo to name representatives to the Frank Gehry-designed arts center’s board of directors, the institution of which is necessary for $100 million in funding, the Wall Street Journal reported.

Mayor Michael Bloomberg, who has consistently supported the center, has picked his appointees for the board, which must be formed by Dec. 31 for the project to remain eligible for Lower Manhattan Development Corporation funding. Cuomo has not named anyone so far, leading some to speculate that he is purposefully dragging his heels, trying to win the funds for other projects. [more]

Planning Commissioner Amanda Burden

From the December issue: This year marks the 50th anniversary of the city’s comprehensive “Zoning Resolution,” which dictated what types of development could go where.

The rules have undergone changes since taking effect in 1961, but in many ways, they continue to reflect the concerns of a prior era — when the automobile was king, manufacturing a steady source of employment and the Internet a far-off dream.

“We are occupying a social realm that’s different than [what] we constructed 50 years ago,” developer Jonathan Rose, founder of the eponymous real estate firm, said at a conference last month organized by the Department of City Planning, the Harvard University Graduate School of Design and the Steven L. Newman Real Estate Institute of Baruch College. 

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From left: Mayor Bloomberg (credit: Edward Reed), Jeffrey Winick, CEO of Winick Realty Group, David Firestein, president of retail brokerage Northwest Atlantic, Benjamin Fox, executive vice president of Massey Knakal Realty Services, and David Zar, a managing member of Midtown-based Zar Property NY

[Updated 3:01 p.m., Dec. 6, 2011 with breakdown of Massey Knakal listings] Mayor Michael Bloomberg highlighted the impact of tourism and government on New York City’s retail marketplace, during his speech to attendees of the country’s second largest retail convention held in Midtown, and hosted by the International Council of Shopping Centers.

He said the city is the nation’s top tourist destination, expected to draw a record more than 50 million visitors this year. Foreign visitors’ overall spending has surged, he noted, with each visitor spending an average of $1,700 each on a trip to the Big Apple.

“Retail spending by international visitors [In New York City] was 37 percent higher during the third quarter [of] this year compared with the same period in 2010,” he said. [more]

Admirals Row redevelopment renderings (courtesy of GreenbergFarrow)

The New York City Council today granted final approval for the redevelopment of the six-acre Admirals Row site at the Brooklyn Navy Yard. The site will be transferred from the federal government to the City of New York, and will then become part of Brooklyn Navy Yard, the city said. Brooklyn Navy Yard Development Corporation, which manages the 300-acre industrial park on behalf of the City, will oversee redevelopment of the site, creating a 74,000-square-foot supermarket and79,000 square-feet of additional retail space, as well as 127,000 square feet of industrial space.

“The transformation at the Brooklyn Navy Yard over the past decade is a prime example of our Administration’s commitment to revitalizing old industrial areas, especially along our waterfront,” said Mayor Michael Bloomberg. – Katherine Clarke [more]

The city has issued a request for proposals for a new small business incubator space in Harlem, as part of the administration’s ongoing efforts to support the revitalization of 125th Street, Mayor Michael Bloomberg and the New York City Economic Development Corporation announced today.

The incubator, to be located on or near 125th Street, would provide a well-managed, fully-equipped space that can be rented for affordable rates on a flexible full-time or part-time basis, EDC said.

“We’ve seen in neighborhoods across the city that the public-private partnership model for operating business incubators can have a dramatic impact on local communities and the businesses that participate in the incubators,” Deputy Mayor Steel said. “By expanding our incubator network to 125th Street we will help bring investment and jobs to this critically important neighborhood.” – Katherine Clarke [more]

The risks of illegal apartment conversions attracted attention earlier this year after two fires killed five people, prompting the city to step up enforcement of housing regulations. But some experts wonder if enforcement will make any difference to the number of illegal apartments when the apartments play such a big role in meeting housing demand, City Limits reported.

It will never eliminate the underground housing market because alternative housing options are inadequate, Sarah Watson, a senior policy analyst at Citizens Housing and Planning Council, told City Limits.

“There’s no doubt the path forward is difficult politically, but we need to recognize that there’s a mismatch between the types of housing we have and the ways we’re really living today.” [more]

Related Companies CEO Stephen Ross and President Jeff Blau were on hand at the official announcement that Coach would occupy about 600,000 square feet at the first building the developer plans to construct in its Hudson Yards project on the West Side. Mayor Michael Bloomberg and City Council Speaker Christine Quinn, as well as executives from bag maker Coach, were present at the event at 30th Street and 11th Avenue this morning. CBRE brokers Mary Ann Tighe and Greg Tosko, represented Coach in the transaction. – Adam Pincus [more]

Online reviews company Yelp.com opened its new Manhattan office today at 104 Fifth Avenue, between 15th and 16th streets, the same office building where Apple is located. The 9,500-square-foot space is already home to over 65 full-time employees — 20 of whom joined Yelp just this past month — and includes local and brand sales executives and a marketing team.

Mayor Michael Bloomberg and Yelp CEO and co-founder Jeremy Stoppelman attended the opening along with City Council Speaker Christine Quinn, New York City Chief Digital Officer Rachel Sterne, the mayor’s Media & Entertainment Commissioner Katherine Oliver and Economic Development Corporation President Seth Pinsky. – Katherine Clarke [more]

Mayor Michael Bloomberg this morning announced that renovations have started at Federal Building #2 in Brooklyn’s Sunset Park, as part of a $35 million plan to transform the 1.1 million-square-foot vacant warehouse into a state-of-the-art industrial center.

In May, the city had selected developer Salmar Properties, which bought the property for $10 million, to oversee the project.

“Federal Building #2 is well suited for industrial and manufacturing uses, with 23 elevators banks, multiple loading docks and parking that will enable tenants to easily move raw materials and finished goods in and out of the building,” said Marvin Schein, co-owner of Salmar Properties in a statement. “Salmar looks forward to developing this site into a Class A building that will help generate jobs and keep industry in New York City.” – Miranda Neubauer [more]