Empire State Development

After 20 years, Pacific Park faces foreclosure and an uncertain future

Photo credit: Amaury Laporte via Flickr.

December 19, 2023

After 20 years, Pacific Park faces foreclosure and an uncertain future

As the massive Brooklyn megadevelopment once known as Atlantic Yards reaches its 20th anniversary, news of the project's progress has been scarce. But recent changes affecting the development anchored by Barclays Center may put the 22-acre site–now known as Pacific Park–back in the spotlight. As The Real Deal reported in a wrap-up of its progress over the past two decades, current developer Greenland USA has defaulted on nearly $350 million in loans attached to the project's second phase. With foreclosure imminent, an auction, scheduled for next month, may mean a new developer will be responsible for fulfilling crucial affordable housing agreements and inherit penalties for unbuilt units.
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Hochul unveils plan to bring 2,800 homes to underused Creedmoor campus in eastern Queens

Image via WikiCommons

December 7, 2023

Hochul unveils plan to bring 2,800 homes to underused Creedmoor campus in eastern Queens

By Aaron Ginsburg

Gov. Kathy Hochul on Wednesday released the Creedmoor Community Master Plan, a proposal to redevelop 58 acres of the Creedmoor Psychiatric Center campus in Queens into a mixed-use community with over 2,800 homes, green space, bike infrastructure, retail, and amenities. State-owned Creedmoor has operated as a mental health center since 1912 and hit its peak patient population of 7,000 in 1959. Today, a majority of the campus sits vacant. Queens Borough President Donovan Richards and Empire State Development (ESD), along with the Metropolitan Urban Design Workshop, developed the master plan over six months.
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See plan to replace former Harlem prison next to Central Park with 105 affordable homes

All renderings courtesy of Gov. Kathy Hochul’s office

December 6, 2023

See plan to replace former Harlem prison next to Central Park with 105 affordable homes

By Aaron Ginsburg

A plan to replace a former Harlem prison with affordable housing is moving forward. Gov. Kathy Hochul on Tuesday unveiled Seneca, the winning proposal for a project that will transform the Lincoln Correctional Facility at West 110th Street, which shuttered in 2019, into 105 affordable homes for purchase. The governor selected a team led by Infinite Horizons, L+M Development Partners, Urbane, and Lemor Development Group to develop the roughly $90 million project, which will go through a public review process before final approval.
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September 27, 2023

New York seeks proposals transforming Chelsea prison into affordable housing

By Aaron Ginsburg

New York State is moving forward with a plan to transform a former prison in Chelsea into affordable housing. Gov. Kathy Hochul on Tuesday announced a request for proposals (RFP) to redevelop the Bayview Correctional Facility at 550 West 20th Street into a residential development with affordable and supportive housing. The proposals for the 100,000-square-foot site near the High Line must have a minimum of 60 supportive housing units and 15 short-term transitional residences, according to the RFP.
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Vornado pauses plan to redevelop area around Penn Station

Rendering courtesy of Gov. Kathy Hochul’s office

February 16, 2023

Vornado pauses plan to redevelop area around Penn Station

By Devin Gannon

The plan to redevelop the area around Penn Station with several new skyscrapers is officially on hold. During a conference call this week, Steven Roth, the chief executive officer at Vornado Realty Trust, the developer behind the project, said new construction is "almost impossible" because of current market conditions, as Crain's first reported.
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Policy

New York seeks proposals for new hotel or mixed-use development across from Javits Center

Photo by Ajay Suresh on Wikimedia

March 4, 2021

New York seeks proposals for new hotel or mixed-use development across from Javits Center

By Devin Gannon

New York on Thursday issued a request for proposals for a Midtown West site located directly across from the Javits Center. Referred to as Site K, the parcel at 418 11th Avenue is one of the last remaining vacant lots in the area. In the RFP, the Empire State Development requests proposals that could be a commercial or mixed-use development, with interest made in hotels that are "complementary" to the neighboring convention center.
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New Developments

July 19, 2017

New York State gets approved for $550M loan for new Moynihan Station

By Devin Gannon

The first phase of Governor Cuomo’s plan to revamp Penn Station wrapped up last month with two new entrances opening on the corners of West 31st and West 33rd Streets and Eighth Avenue. Plus, the West End Concourse was expanded and now boasts a new color scheme, LED screens and murals. Adding to the project's progress, the state was approved for a federal loan on Tuesday for up to $550 million for the second phase of the plan, which will convert the Farley Post Office across the street into Moynihan Train Hall, expanding Penn Station floor space by 50 percent, as reported by Politico NY.
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February 1, 2017

Lendlease-Turner selected as design-build team for $1.5B Javits Center expansion

By Michelle Cohen

A Lendlease-Turner Construction partnership has been chosen to coordinate and build the planned 1.2 million-square-foot expansion of the Jacob K. Javits Convention Center on Manhattan's far west side. Commercial Observer reports that the New York Convention Center Development Corporation, the entity that controls the state-owned venue, announced Tuesday that they had approved the team for the project, which is expected to cost $1.55 billion. Atlanta-based architecture firm tvsdesign is also part of the Lendlease-Turner consortium. According to the announcement, the winning proposal offered, "significant design, logistical and operational benefits, including increased atrium space, integrated public and support spaces and a commitment to maintaining current operations during all phases of construction."
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Real Estate Trends

December 2, 2016

State seeks proposals for massive development above South Bronx rail yard tracks

By Michelle Cohen

As the city's land costs rise, interest has been focused on the South Bronx, including the potential for a huge waterfront development above the MTA's Concourse Yards, as 6sqft previously reported. Now, Crains reports that Empire State Development (ESD) has invited developers to present offers for leasing or purchasing a 13-acre South Bronx rail yard along the Harlem River just north of the Willis Avenue Bridge and decking it over to build a residential or mixed-use project.
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Real Estate Trends

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