Mayor launches real estate-related initiatives

Mayor Michael Bloomberg today announced several initiatives involving real estate meant to help New York City’s media professionals. The Media Tech Bond Program aims to help companies purchase new manufacturing, research or production facilities or renovate existing buildings to better accommodate new technology. The media tech bonds can be used to finance projects between $1 million and $10 million, according to a press release from the mayor’s office. The city is also working with the Downtown Alliance to lease and set up Hive@55, a workspace for media freelancers at 55 Broad Street. The 5,000-square-foot space will accommodate 50 freelancers and up to 1,850 part-time and drop-in workers. TRD