New York City Economic Development Corporation

Trump said he’d restore Gateway funding if New York renames Penn Station after him

Photo of Penn Station by Don Ramey Logan via WikiCommons

February 6, 2026

Trump said he’d restore Gateway funding if New York renames Penn Station after him

President Donald Trump told Sen. Chuck Schumer last month that he'd resume funding for the Gateway project, but only if New York's Penn Station and Washington’s Dulles International Airport are renamed after him. Trump said he would release $16 billion in previously allocated federal funds for the critical infrastructure project on that condition, as CNN reported. Funding, which had been secured under the Biden administration, was frozen during October’s government shutdown. Construction on the project will stop at 5 p.m. on Friday if the funding does not resume.
Find out more

Staten Island Ferry to offer food and drinks for the first time since Covid

Photo by Scarlet Sappho on Flickr

January 30, 2024

Staten Island Ferry to offer food and drinks for the first time since Covid

By Aaron Ginsburg

Staten Island Ferry riders will be able to enjoy food and drinks on board for the first time since the start of the pandemic in 2020. Department of Transportation Commissioner Ydanis Rodriguez on Tuesday announced a request for proposals (RFP) for vendors interested in selling food and drinks, including alcoholic beverages, on the Staten Island Ferry. Proposals are due by March 7, with the new concessions expected to be in operation by the fall.
get more info

East Midtown Greenway opens, with nearly 3 acres of public open space on the waterfront

Image courtesy of Skanska

December 20, 2023

East Midtown Greenway opens, with nearly 3 acres of public open space on the waterfront

By Aaron Ginsburg

New York City has taken a major step forward in its effort to expand the greenway network. The city's Economic Development Corporation (NYCEDC) and NYC Parks on Tuesday officially opened the East Midtown Greenway and the second phase of the Andrew Haswell Green Park, delivering nearly three acres of public open space, a new pedestrian walkway, a pedestrian bridge, landscaping, and a separated bike lane stretching from East 53rd Street to East 60th Street along the East River. The $197.6 million investment fills a significant gap in the Manhattan Waterfront Greenway.
see more

New daily, year-round ferry service launches to and from Governors Island

Image courtesy of the Trust for Governors Island

January 20, 2022

New daily, year-round ferry service launches to and from Governors Island

By Aaron Ginsburg

The city's Economic Development and the Trust For Governors Island on Thursday announced that daily, year-round ferry service to Governors Island will begin on Monday, January 24. The NYC Ferry will add a stop at Yankee Pier on its South Brooklyn Route between Red Hook and Sunset Park, connecting New Yorkers to the island from the Lower East Side and Brooklyn. The new service’s hours will coincide with the Island's new winter hours, open 7 a.m. to 6 p.m.
Find out more

Rendering of 126th Street facing north; image courtesy of NYCEDC

January 18, 2019

City’s plans for Willets Point include a soccer stadium and affordable housing

By Michelle Cohen

City officials have released long-awaited plans to develop the blighted Willets Point section of Corona, Queens. As 6sqft previously reported, the economic development site within the industrial neighborhood east of Citi Field known as the Iron Triangle was at one point slated for a cleanup of its toxic soil and the creation of affordable and senior housing that would replace a jumble of auto shops and industrial businesses. Finally surfacing almost four months after a task force submitted suggestions to the Econonmic Development Corp. (EDC), the plans contain two development scenarios including a soccer stadium and mixed-use scenario that includes residential development, retail and a school.
READ MORE

With a higher cost and shorter route, de Blasio’s BQX streetcar plan is back on the table

Rendering via NYCEDC

August 30, 2018

With a higher cost and shorter route, de Blasio’s BQX streetcar plan is back on the table

By Devin Gannon

The long-delayed plan to bring a light-rail trolley between Brooklyn and Queens has been revived, following the completion of a two-year feasibility study, Mayor Bill de Blasio announced on Thursday. But the proposal differs from the original idea for the Brooklyn Queens Connector (BQX) the mayor had first released in 2016. The cost of the revised project has jumped to $2.7 billion from $2.5 billion, the number of miles on the route has dropped from 16 miles to 11 miles and the city expects the cars to run by 2029, instead of the original projection of 2024.
Find out more

City announces $100M plan to modernize freight distribution infrastructure

Aggregate barge on Newtown Creek. Photo Credit: Mitch Waxman via NYCEDC

July 17, 2018

City announces $100M plan to modernize freight distribution infrastructure

By Michelle Cohen

Mayor Bill de Blasio and the city’s Economic Development Corporation (EDC) announced on Monday the launch of a plan for investing in updated transportation options for New York City businesses and dividing distribution among the five boroughs. Freight NYC is a $100 million plan to overhaul the city’s aging freight distribution systems through strategic investments to modernize maritime and rail assets and create new distribution facilities. The plan hopes to create 5,000 jobs as well as a more sustainable and resilient supply chain network.
Find out more

New renderings and construction shots of Essex Street Market ahead of fall opening at Essex Crossing

Interior image via SHoP Architects; construction shot via NYCEDC

May 15, 2018

New renderings and construction shots of Essex Street Market ahead of fall opening at Essex Crossing

By Devin Gannon

Construction of Essex Street Market's new home across Delancey Street continues to move along before its scheduled opening this fall. Designed by SHoP Architects, the market sits above the 150,000-square-foot Market Line, which will stretch two levels and connect three sites of the Essex Crossing development. The market's first phase is expected to wrap up in October, bringing 13 new vendors to the site in addition to the 24 vendors from the historic Essex Street Market. Additional renderings released by the city's Economic Development Corporation this week highlight the brightness of the space, courtesy of the huge windows, 60-foot ceilings and use of light-reflective material. "As we near completion on the project, we are excited to soon open a world-class public market for the local Lower East Side community,” NYCEDC President James Patchett said in a statement to 6sqft. “The new Essex Market will preserve the current community-based spirit while creating additional space to expand the market’s offerings, provide new jobs, and present a higher level of goods and services to visitors and area residents alike.”
Get the details

October 19, 2017

City officially pitches four neighborhoods for Amazon’s HQ2

By Devin Gannon

Mayor Bill de Blasio and the New York City Economic Development Corporation released their official pitch for Amazon's second headquarters on Wednesday, one day before the deadline. Boasting the city's talented tech workforce, the de Blasio administration has pitched Midtown West, Long Island City, the Brooklyn Tech Triangle (DUMBO, Downtown Brooklyn and the Navy Yard), and Lower Manhattan as the four best spots for Amazon to call home. The tech giant's nationwide competition, announced in September, set out to find their next headquarters, called HQ2. The company promises the headquarters will bring 50,000 new jobs and $5 billion in initial city investment.
Find out more

Policy

Rendering of the Hunters Point South project, courtesy of NYCEDC

October 18, 2017

Prime Long Island City site could be the perfect spot for Amazon’s HQ2

By Devin Gannon

An eight-acre, 1.6 million-square-foot residential site next to Hunters Point South is for sale, a piece of land owned by a family for generations. According to the New York Post, the site could potentially bring in $480 million if targeted to market-rate condominiums since land in Long Island City sells for roughly $300 per square foot. The triangle-shaped plot of land found at 55-01 Second Street and bounded by 54th Avenue and Vernon Boulevard, sits on Newtown Creek, an estuary that forms part of the border between Brooklyn and Queens. The site might make the perfect spot for Amazon’s second headquarters as the tech giant seeks 500,000 square feet for their HQ2 by 2019.
Find out more

As deadline nears, New York City’s bid for Amazon’s second headquarters heats up

By Devin Gannon

With the deadline for proposals due Oct. 19, New York City politicians, business leaders and real estate developers are putting the finishing touches on their pitches intended to lure Amazon into building their second headquarters in the city. After Amazon first announced HQ2, which will bring $5 billion in initial city investment and 50,000 new jobs, over two dozen site proposals in 23 neighborhoods were crafted in New York. According to Crain’s, a group of city and state agencies is working together on a bid, with less than two weeks left before the due date. So far, proposals for neighborhoods like Williamsburg, the Brooklyn Navy Yard, Sunset Park's Industry City, Long Island City and areas in the Bronx have been discussed.
Find out more

Policy

Coney Island’s landmarked Childs Restaurant reopening as huge food and drink space

Photo via NYCEDC

May 17, 2017

Coney Island’s landmarked Childs Restaurant reopening as huge food and drink space

By Dana Schulz

It's been more than 60 years since Childs Restaurant left its historic home on the Coney Island boardwalk, but on Sunday the landmarked building will reopen as a massive new food and beverage concept called Kitchen 21 (h/t Eater). The formerly vacant and deteriorating space was redeveloped through a $60 million joint investment among the NYC Economic Development Corporation, Legends Hospitality (who run the dining programs at One World Trade Center and Yankee Stadium), and Cravable Hospitality Group (of David Burke Kitchen). It will hold five separate restaurants, all peddling "summer-friendly fare": casual take-out spot Coney Island Café; beer and seafood spot Community Clam Bar; gastropub Parachute Bar; rooftop wine bar Boardwalk & Vine; and a more formal restaurant called Test Kitchen.
All the details ahead

Food & Dining

April 17, 2017

Mayor de Blasio christens New York’s first Citywide Ferry with a ride into Brooklyn Bridge Park

By Devin Gannon

To celebrate the ahead-of-schedule launch of the Citywide Ferry service, Mayor de Blasio rode the first ferry (named "Lunchbox" by second graders from Bay Ridge) this morning into Brooklyn Bridge Park's Pier 1 as part of an official dedication ceremony. Beginning May 1st, all New Yorkers can join in the revelry when the new Rockaway Route and the existing East River Route kick off. Service to South Brooklyn starts in June, and the Astoria route will be launched sometime in August. In all, there will be 21 stops added throughout the city as part of the expanded service. On top of today's festivities, the city also released the official new ferry schedules.
See the NYC Ferry routes

Staten Island’s Abandoned Farm Colony to Undergo $91M Development for Senior Housing

Rendering via Nancy Owens Studio

January 20, 2016

Staten Island’s Abandoned Farm Colony to Undergo $91M Development for Senior Housing

By Dana Schulz

Over a year ago, 6sqft shared the news that Staten Island's abandoned farm colony was set to undergo a massive rehabilitation that included a large senior housing building and a massive public park. And just yesterday, the City Council approved the New York City Economic Development Corporation's plan to sell 45 of the site's 96 acres to Staten Island developer Raymond Masucci for $1, according to the Times. Mr. Masucci will pour $91 million into the project, dubbed Landmark Colony, rehabilitating five crumbling Dutch Revival-style structures, tearing down five more but saving their stones for reuse, preserving a 112-year-old dormitory "as a stabilized ruin," constructing 344 condominiums for the 55 and older crowd, and designing 17 acres of public outdoor space.
More on the project and the history of the site

November 3, 2014

Staten Island’s Abandoned 45-Acre Farm Colony Will Be Revitalized to Include a Massive Public Park

By Diane Pham

Staten Island's renaissance continues to move full steam ahead as the Landmarks Preservation Commission has unanimously approved the rehab of the long-abandoned poorhouse and farm located on the oft forgotten borough. Curbed reports that the New York City Farm Colony will be redeveloped into 350 units of senior housing with some retail space in a new eco-minded project called 'Landmark Colony'. The plan, which is being spearheaded by NFC Associates in cooperation with the New York City Economic Development Corporation and Vengoechea + Boyland Architecture was lauded for its site-sensitive design and ample green space.
find out more here

May 23, 2014

Seaport City: Neighborhood Built on Landfill May Be Coming to the East River

By Stephanie Hoina

Though bearing little resemblance to its quaint East River neighbor, “Seaport City” could become a reality based on a new study released yesterday by the New York City Economic Development Corporation. But don’t bank on a new set of sought after residential and commercial river views just yet. Seaport City is only one of a number of options presented to the city as part of former mayor Michael Bloomberg's 257-point, post-Hurricane Sandy resiliency plan – and it’s the most challenging on the list.
Find out more about the plan to protect the lower east side

New York City Economic Development Corporation

Pitch a Story

Interested in seeing the property in person?

Interested in seeing the property in person?

Distinctive Post Form

Get in Touch

Send us a Tip

Interesting in learning more about purchasing a new home?

Thinking about selling your home?

Sell a Home (Footer)

Before You Move On from this Page.

Your Daily Doseof NYC Life!

Before You Move On
from this Page.

Your Daily Dose
of NYC Life!