The Real Deal New York

RAL to redevelop PC Richard site in Union Square

Plans call for a tech-focused office space on city-owned land
December 22, 2016 01:10PM

PC Richard Union

124 East 14th Street near Union Square

UPDATED, Dec. 22, 1:47 p.m.: The city’s Economic Development Corporation has selected Robert Levine’s RAL Development Services, one of the companies behind a controversial residential project in Brooklyn Bridge Park, to redevelop a city-owned site in Union Square.

Last year, the EDC began calling for proposals to redevelop the building at 124 East 14th Street, which is home to a P.C. Richard & Son store, into a tech-centric work and event space anchored by community center Civic Hall. RAL will now handle the project, sources told Politico.

The city encouraged developers to build office space at Union Square location, targeting startups and co-working spaces. The EDC said at the time that the site would eventually serve as a “new tech hub.”

In July, RAL partnered with Oliver Realty Group to close on a $110 million deal to lease land for its Brooklyn Bridge Park residential development. The companies plan to build two properties on the site: a 28-story, 160-unit condo building and a 14-story, 140-unit rental building.

The Empire State Development Corporation had briefly pulled its support for the project, citing a $10,000 donation RAL made to Mayor Bill de Blasio, but it eventually approved the project. [Politico]Miriam Hall

Correction: An earlier version of this story stated the EDC was involved with RAL’s Brooklyn Bridge development. It is the state’s ESD.