Search Results for: Lease Agreement

City renews efforts to redevelop Kingsbridge Armory

The Kingsbridge Armory at 195th Street and Jerome Avenue. Image: Cityland

Previous redevelopment proposal defeated after Bronx leaders objected to project’s impact on community and developer’s refusal to agree to living wage provision. On January 12, 2012, the Economic Development Corporation issued a request for proposals for the redevelopment of the long-vacant Kingsbridge Armory in the Kingsbridge section of the Bronx. The 575,000 sq.ft. landmarked building features an open hall with high ceilings and 180,000 … <Read More>

Developer sought for Phase 1 of Willets Point District

 

City targeting 12.75-acre site adjacent to Citi Field for first phase of construction. On May 9, 2011, The City’s Economic Development Corporation issued a request for proposals seeking a developer for Phase 1 of the Willets Point District redevelopment plan in Queens. The triangle-shaped Willets Point District comprises 61.4 acres generally bounded by Northern Boulevard, the Van Wyck Expressway, and 126th Street. The contentious redevelopment plan was approved by the City Council in November … <Read More>

City gains control over Governors Island

Image: Courtesy of West 8 / Rogers Marvel Architects / Diller Scofidio + Renfro / Mathews Nielsen / Urban Design +

City-controlled operating entity will be responsible for implementing island’s recently released redevelopment master plan. On April 11, 2010, the City and State announced an agreement that would transfer to the City primary responsibility for operating Governors Island and for implementing the development goals of the Governors Island Park and Public Space Master Plan. The … <Read More>

EDC Purchases a One-Acre Site in Coney Island

Announcement comes about three months after Thor Equities failed to close on the same parcel. On October 15, 2008, the NYC Economic Development Corporation announced that it entered into a property acquisition agreement with Ward Realty Corp. for the purchase of a one-acre site in the amusement core of Coney Island, Brooklyn. The site, located within the nine-acre area that the City has designated to be parkland, is the current home of the Wonder Wheel … <Read More>

MTA strikes deal with Related & Goldman Sachs

Proposed redevelopment of Hudson Yards. Image: dbox, courtesy of Related Companies.

$1.054 billion offer adds more affordable housing than Tishman’s plan. On March 26, 2008, the MTA selected Tishman Speyer to develop the John D. Caemmerer Rail Yards, also known as the Hudson Yards. 5 CityLand 46 (Apr. 15, 2008). But on May 13, 2008, Tishman withdrew its proposal, prompting the MTA to select a proposal submitted by a joint venture between the Related Companies … <Read More>

40-story tower to be built above Midtown Bus Terminal

Port Authority leased air rights for $500 million to fund major improvements. On November 30, 2007, the Port Authority announced an agreement to facilitate construction of a 40-story, 1.3 million-square-foot office tower above the north wing of the 42nd Street Bus Terminal. Under the agreement, the Port Authority would lease the air rights over the area to 20X Square Associates, a joint venture between Vornado Realty and Ruben Companies. The agency will also share in … <Read More>