Port Authority won’t sell Red Hook Container Terminal anytime soon
Agency will issue rfp for new operator in August
It doesn’t look like the Port Authority of New York and New Jersey plans to sell the 80-acre Red Hook Container Terminal anytime soon, mostly due to — you guessed it — politics.
The bi-state agency plans to issue a request for proposals next month seeking bidders who will continue to run the terminal as a shipping facility, Crain’s reported. The terminal’s current operator, Red Hook Container Terminal LLC, has a lease that expires in September 2018. The Port Authority will start looking for another five-year tenant in August.
Agency officials have long mulled selling off the Port Authority’s various real estate assets. Last month, John Degnan, the Port Authority’s New Jersey-appointed chairman, again floated the idea of selling the terminal. A number of state politicians, however, are opposed to any sale of the site, and difficult logistical challenges and run-of-the-mill politics have put the kibosh on any imminent sale, Crain’s reported.
Last year, Chris Ward, Port Authority alum turned AECOM executive, proposed a plan to build up to 45 million square feet of residential space in Red Hook on several different sites, including the terminal.[Crain’s] — Kathryn Brenzel