City has no funds to acquire site of Williamsburg fire

Bloomberg administration had promised to convert the land into a park

TRD New York /
May.May 28, 2015 10:00 AM

When a warehouse on the Williamsburg waterfront burned down earlier this year, it stoked speculation about possibilities for the premium land. During Michael Bloomberg’s mayoral administration, the city had promised to acquire the lot for parkland — but developers were also circling the site for potential residential development.

Those developers might be in luck, as it appears the city has no funds to acquire the land anyway, Crain’s reported.

“There are currently no acquisition dollars to acquire the CitiStorage site,” said Department of Parks and Recreation Commissioner Mitchell Silver during a City Council hearing.

The 11-acre site stretches from North 10th to North 12th streets and is home to CitiStorage warehouses. The building that burned down held many confidential government records.

So far, the city has completed a conversion to parkland on part of the promised plot. Bushwick Inlet Park is up and running from North 9th to North 10th Streets.

Silver said that the city is currently focused on the acquisition of a neighboring site that has for years been occupied by Bayside Fuel Corp., but has not been directing efforts to the CitiStorage site. [Crain’s] — Tess Hofmann

Related Articles

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

Small Talk: Every community meeting. About every development project. Ever.

CoStar settles copyright lawsuit, Sam Chang snaps up Midtown hotel site: Daily digest

Luxury-rental startup raises $50M in equity

Triplemint expands to New Jersey