Connecticut-based Stoneleigh Capital has reportedly signed a letter of intent with the New York City Economic Development Corporation to head the redevelopment of the four-story Battery Maritime Building, an individual landmark located at 10 South Street, in the Financial District. According to Politico New York, the new developer replaces the Dermot Company, who was selected in 2006 to transform the building into a hotel but never completed the project. The conversion is currently a little more than halfway complete. Once finished by the end of 2017, it will include a 60-plus-key boutique hotel, a restaurant and bar on the rooftop, and pubic space in the Grand Hall. Part of the building is still used to launch ferries to Governors Island. Rogers Partners originally designed the project, but when the project resumed after the last economic downturn it was subsequently re-designed for a new program by Ismael Leyva Architects, who also took the building through multiple agency approvals and finally into construction.
Economic Development Corporation
The New York City Economic Development Corporation (NYCEDC) has launched a Request for Proposals (RFP) for two city-owned development sites adjacent to each other, which total 4.5 acres, at 5-40 44th Drive and 4-99 44th Drive. Politico New York reports that the city is looking for developers to build “at least 300,000 square feet of commercial office or light manufacturing space, up to 1,000 apartments, a school, and a small park.” The site is currently located in a manufacturing district but would be rezoned for a mixed-use project. It currently consists of a single-story Department of Transportation facility, a surface parking lot, and a restaurant (which has a lease that expires in 2017). Proposals are due by May 26, 2016.
As we have reported, the Landmarks Preservation Commission is in the process of dealing with the backlog of 95 items that have been on its calendar since before 2010, some for decades. That process took a big step forward Tuesday, with 30 sites remaining on the calendar as priorities for designation vote by the end of 2016. Five sites were removed from the calendar for lack of merit.
The city has announced it will open two business hubs totaling 100,000 square feet this summer as part of its UrbanTech NYC program, according to Crain’s. One of them will be a 50,000 square-foot building in the Brooklyn Navy Yard, dubbed New Lab. The facility, which is currently being renovated, will offer affordable commercial rents to companies in search of office and/or manufacturing space. The other 50,000 square-foot location is at Grand Central Terminal, and companies will have to apply and then be selected to lease space. Macro Sea is developing – and designing in-house – the Brooklyn Navy Yard’s facility, and the New York City Economic Development Corporation (NYCEDC) is behind the initiative.
This past summer, news broke that the Covenant House was seeking to redevelop most of the block bound by Tenth and Dyker avenues and West 40th and 41st streets, in the Hudson Yards district, into a mixed-use development that would contain their new headquarters. Per Crain’s, the city’s Economic Development Corporation and the nonprofit jointly launched a Request for Proposals (RFP) for the project. The site could accommodate a roughly 780,000 square-foot project, but would have to include a new 150,000 square-foot facility for Covenant House. A second building could include roughly 700 residential units, retail space, and leasable community facility space. It’s proposed 40 percent of the units would rent at below-market rates, of which 75 to 100 units are to be set aside as supportive housing. Submissions are due March 11. The city must first take possession of vacant building at 450 West 41st Street.