Cuomo kills Pier 40 redevelopment plan

Hudson River Park Trust hoped development would bring in revenue to support park

Jan.January 03, 2020 08:45 AM
Pier 40 and Gov. Andrew Cuomo (Credit: Wikipedia and Getty Images)

Pier 40 and Gov. Andrew Cuomo (Credit: Wikipedia and Getty Images)

Gov. Andrew Cuomo has vetoed plans to develop commercial office space at Hudson River Park’s Pier 40 — the latest in a series of setbacks at the troubled site.

Cuomo rejected a bill on New Year’s Eve that would have greenlit the development of office space up to eight stories high on the West Village pier, according to Curbed.

In a memo about the decision, he argued the pier’s recreational space needed to be preserved.

“The one thing that we are not making any more of in Manhattan is open space,” he wrote, “and this must be protected.”

The decision is a setback for the Hudson River Park Trust, which had hoped to develop the pier so it could financially sustain the park. According to Curbed, the trust estimated the development would bring in at least $12.5 million per year in rent, under a leasing arrangement with a developer.

However Cuomo said the financial “justification” came at a cost to families living in the city.

“Money is always the rationale to develop sites in Manhattan, hence the lack of open space, green areas, parks and recreation space,” he wrote.

The plan had caused tension with some locals, who butted heads with the trust. Assemblymember Deborah Glick said the veto would create space for careful consideration about how any potential development should take shape.

“I think the veto is a great opportunity to revisit this,” she said. “The governor hit a reset button and I think we will have to have a conversation about what the park’s finances actually look like.” [Curbed] — Sylvia Varnham O’Regan

Related Articles

Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)

Landlords take another hit: Cuomo signs expanded Loft Law

Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

South Carolina town puts moratorium on development (Credit: iStock)

The high cost of low taxes: South Carolina town bans all development for 16 months

Governor Andrew Cuomo and a rendering of Penn Station (Credit: Getty Images, Governor's Office)

Eminent domain could be used for Penn Station plans thanks to clause in state budget

From left: Eric Adams, Shaun Donovan, Scott Stringer and Ruben Diaz Jr. (Credit: Getty Images)

Mayoral race goes from bad to worse for real estate

William Zeckendorf and his brokerages are making moves. (Credit: iStock, Getty Images)

William Zeckendorf wants to build an army of NYC homeowners

U.S. Rep. Alexandria Ocasio-Cortez and Sunnyside Yards (inset) (Credit: Getty Images and Wikipedia)

AOC resigns from Queens megadevelopment steering committee