EDC’s $58M in Times Square rent mostly sunk into ferries
The Economic Development Corporation used to send the city coffers tens of millions of dollars in rent revenue from...
economic development corporation
The Latest
Pols pounce as city caves in on Sunset Park property
Three elected officials are seething about a city agency’s decision to let a Sunset Park landlord rent to office...
City lets industrial landlord off the hook in Sunset Park
In 2011, Salmar Properties set out to transform a 1.1 million-square-foot vacant warehouse in Sunset Park into a state-of-the-art...
Progressives opposing Queens development target AOC
No elected official is safe from the ire of New York City’s emboldened left — not even its standard-bearer,...
Lights, camera, development: City issues RFP for film studio in Sunset Park
Sunset Park could be getting a film and television studio. New York City Economic Development Corporation and the Mayor’s...
EDC has spent half of its $700M rezoning fund money on just four neighborhoods
The city might run out of money in a neighborhood improvement fund well before improving all of the neighborhoods...
Issue
Day in the life of: James Patchett
James Patchett is the president and CEO of the New York City Economic Development Corporation, the city’s quasi-independent nonprofit with an annual budget of nearly $850 million. The 38-year-old Amherst College and Stanford Graduate...
City moves forward with Sunnyside Yard development plans
The city is continuing to move forward with its plans to develop Sunnyside Yard in Queens. The Economic Development Corporation...
Demo regrets: City officials lament tearing down rental buildings to make way for long-delayed DoBro park
After green-lighting the demolition of residential and rent-stabilized buildings in Downtown Brooklyn, city officials are now facing the possibility that a deal to build...
City hopes to make Broadway Junction latest beneficiary of Brooklyn’s boom
Broadway Junction could be the next area of Brooklyn to be transformed by the wave of development sweeping through...