Economic Development Corporation

East River ferry service contract awarded

Image: Courtesy of NYCEDC

EDC awarded $9 million contract to BillyBey Ferry Company to provide new ferry service to Brooklyn, Manhattan, and Queens starting in Spring 2011. On February 2, 2011, the City’s Economic Development Corporation awarded BillyBey Ferry Company a three-year $9 million contract to provide expanded ferry service along the East River. Billybey, operating under the NY Waterways brand, will make seven regular stops connecting riders to Brooklyn, Manhattan, and Queens. The stops … <Read More>

Developers selected for Queens waterfront complex

Hunters Point South Pier.

First phase of Hunter’s Point South will include two towers with at least 685 affordable apartments, parkland, and a new school. On February 9, 2011, the City announced that it had selected Phipps Houses, the Related Companies, and Monadnock Construction to develop the residential portion of the first phase of the Hunter’s Point South redevelopment plan. The City Council in November 2008 approved the City’s plan to develop … <Read More>

EDC seeks developer for new science facility

Sites for applied sciences academic campus include Brooklyn Navy Yard, Roosevelt Island, Governors Island, and Staten Island. The City’s Economic Development Corporation issued a request for expressions of interest from universities, applied sciences organizations, or related institutions regarding the development and operation of a new applied sciences research facility and academic campus in the City. According to EDC, the City is interested in a facility specializing in applied engineering, but it could provide additional programs … <Read More>

EDC issues RFEI for redevelopment of bakery complex

City is in process of reclaiming property after Citarella failed to fully develop site. The City’s Economic Development Corporation issued a request for expressions of interest for the purchase, redevelopment, and rehabilitation of the former Taystee Bakery complex on West 125th and West 126th Street between Amsterdam and Morningside Avenues in West Harlem.

The 134,000 sq.ft. complex includes an occupied through-block building at 461 West 125th Street and five vacant buildings at 426 through 458 … <Read More>

EDC seeks developer for Bush Terminal Complex site

Waterfront site is occupied by three buildings that EDC will demolish prior to execution of ground lease. On November 1, 2010, the City’s Economic Development Corporation issued a request for proposals seeking developers to lease and redevelop a 130,000 sq.ft. portion of the Bush Terminal Complex along the Gowanus Bay in Sunset Park, Brooklyn. The redevelopment site is generally bounded by 44th and 47th Streets to the north and south and is adjacent to … <Read More>

Two new Bronx grocery stores win tax exemptions

IDA approved $8.6 million in real estate and tax benefits for the first two supermarkets under the recently-created FRESH program. On February 9, 2010, the New York City Industrial Development Agency, a component of the City’s Economic Development Corporation, approved tax incentive packages to assist in the development of two new Bronx supermarkets. The financial incentives are the first awarded under the City’s Fresh Retail Expansion to Support Health (FRESH) program approved by … <Read More>