Brookfield exec Ric Clark to be named chair of Downtown Alliance

The BID is one the city's most powerful

New York /
Jun.June 20, 2017 10:10 AM

Brookfield Property Partners’ TRData LogoTINY chief Ric Clark is expected to be named chairman of one of the city’s biggest business improvement districts.

Clark will succeed Alan Scott as chairman of the Downtown Alliance if the BID board’s vote goes as expected, the New York Post reported. Clark, who’s been on the Alliance’s board for a little over a year, will be in charge of setting the BID’s long-term goals and overseeing its budget. The organization’s executive director, Jessica Lappin, oversees the Alliance’s day-to-day operations.

In 2016, the Downtown Alliance spent $20 million, making it the biggest spender of the city’s 73 BIDs. The Alliance’s board include some of the city’s biggest real estate players — Brookfield, Time Equities, TF Cornerstone and Jack Resnick & Sons, to name a few. Though BIDs are often thought of as quality-of-life boosters — focusing on trash collection and safety — the Alliance has grown into a powerful promoter of commercial and residential development. [NYP]Kathryn Brenzel


Related Articles

arrow_forward_ios
The tax break allows foreign visitors to reclaim a sales tax of 20 percent on items bought in the country for more than £30 (Getty; Unsplash)

UK tax break expiration could hurt struggling retailers

UK tax break expiration could hurt struggling retailers
Istanye Park in Istanbul (Photo via Wikipedia Commons)

Turkish mall valued at $1B in deal with Qatar

Turkish mall valued at $1B in deal with Qatar
258 8th Avenue (Google, Target)

Target planning yet another NYC store in Chelsea

Target planning yet another NYC store in Chelsea
Churchill Real Estate's Justin Ehrlich and 381 Broadway (Google Maps)

Two-year Tribeca foreclosure saga continues with lawsuit over $20M

Two-year Tribeca foreclosure saga continues with lawsuit over $20M
Adam America's Omri Sachs and Dvir Cohen with 2503-2509 Broadway (Google Maps; Adam America)

Adam America secures $63M in financing for Upper West Side project

Adam America secures $63M in financing for Upper West Side project
Convene CEO Ryan Simonetti (Convene)

Convene closes Manhattan locations as corporate events fail to return

Convene closes Manhattan locations as corporate events fail to return
New York City District Council of Carpenters’s Monitor Glen McGorty (iStock; LinkedIn)

NYC carpenters union changes how it roots out mob ties

NYC carpenters union changes how it roots out mob ties
The Economic Innovation Group identified 145 real estate investments in Opportunity Zones (iStock)

Real estate deals dominate Opportunity Zones. Is that bad?

Real estate deals dominate Opportunity Zones. Is that bad?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...