Contact: Sunny Mindel/Curt Ritter 212/788-2958
Bernadette O'Leary 212/312-3523
Mayor Rudolph W. Giuliani announced today that the New York City Economic Development Corporation (EDC), has, on behalf of the City, entered into negotiations with the UnConvention Center Inc. for the redevelopment of Pier 94 into a state-of-the-art facility for mid-sized trade shows and corporate events.
The $50 million renovation of the 275,000-square-foot facility at West 55th Street and 12th Avenue is scheduled to begin in mid-2000 and, should be completed within nine months. The project will create approximately 330 construction jobs and 500 permanent jobs.
The principals of the UnConvention Center have years of experience as fashion trade show producers and have been successfully operating at Pier 94 for the past two years. The UnConvention Center recently hosted successful fashion, accessories, gift and computer industry trade shows and exhibits, attracting thousands of national and international artists, designers, and business people to New York City.
"The tourism and convention industry is extremely important to New York City, and there is a great need for a facility that can accommodate mid-size trade shows as well as corporate events," said Mayor Giuliani. "By creating a unique space in a spectacular setting that overlooks the Hudson River, we will attract more trade shows, exhibits and events to the City, create 500 permanent jobs, and generate approximately $34 million annually in tax revenue."
The two-story facility will include ground level exhibit space, a restaurant, a café, ballrooms, and meeting rooms. The facility's innovative design will allow it to accommodate up to 35 multi-day shows and 35 one-day special events per year. It will also provide the public with access to the waterfront and the forthcoming Hudson River Park.
"In the past two years, exhibitors at the UnConvention Center have praised Pier 94 for its convenient location, high vaulted ceilings, virtually column-free space, professional staff and services," said Elyse Kroll, president of the UnConvention Center. "When it is rebuilt, Pier 94 will become even more of a center of trade show activity and an architectural showplace for New York City on the Hudson River. We want to thank Mayor Giuliani for his support of this project."
"The renovation and expansion of this exhibit space will help New York City's business travel industry reach even greater heights," said EDC President Michael G. Carey. "Almost 35 million business travelers and tourists spent $14.5 billion enjoying the attractions and benefits of our City last year, setting new records for the fourth straight year. I am confident that this new facility will attract even more companies and people to the business and cultural capital of the world."
EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, it helps develop businesses and create jobs throughout the five boroughs.