Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Tuesday, January 23, 2001

Release #026-01

 
Contact: Sunny Mindel/Curt Ritter
212-788-2958
  Gregory Miley/Janel Patterson 212-312-3523 (EDC)




MAYOR GIULIANI ANNOUNCES 16 PRIME SITES
AVAILABLE FOR DEVELOPMENT

Approximately 777,000 Square Feet
Suitable for Industrial, Retail or Residential Uses


Mayor Rudolph W. Giuliani announced today that the New York City Economic Development Corporation (EDC) is issuing Requests for Proposals (RFPs), on behalf of the City, for the development of approximately 777,000 square feet of desirable City-owned real estate on 16 sites.

"We have been extremely successful in the past in encouraging private investment in City-owned property, and I am confident that these current offerings will result in many exciting proposals," said Mayor Giuliani. "We will capitalize on the City's healthy economy, and put these under-utilized sites back on the tax rolls and create hundreds of new jobs for New Yorkers."

The properties include municipal parking facilities -- a parking garage in downtown Brooklyn; a parking lot in Rosedale, Queens; and another parking garage in Kew Gardens, Queens. An entire city block is being offered in the Bathgate Industrial Park in central Bronx, as well as two adjacent industrial properties in the 550-acre College Point Corporate Park in Queens. Eight sites in the East New York In-Place Industrial Park in Brooklyn, and two industrial sites in Rockaway, Queens are also included.

"Located in the Bronx, Brooklyn and Queens, the properties we are offering today present a variety of excellent development possibilities," said EDC President Michael G. Carey. "I encourage anyone interested to submit proposals to take advantage of this opportunity to invest in New York City."

EDC will use a number of criteria to review and select the winning proposals for the sites. These include the economic impact of the proposed project on New York City, such as projected expenditures, purchase price, number of jobs and tax revenue generated by the project. EDC will also consider the development team's qualifications, such as experience with similar projects, developmental skills and ability to bring the project to completion in a reasonable timeframe. Selected projects must be financed from conventional sources.

A project's relationship to the surrounding community is another important criterion. In addition, architectural design, urban design and the maximization of the site's potential must be consistent with applicable zoning, environmental and other regulatory controls.

There will be an informational meeting about the sites on Wednesday, February 14, at 9:00 a.m., at Guastavino's Restaurant*, 409 East 59th Street, Manhattan. Proposals are due by 2 p.m. on Thursday, March 29, 2001. To attend the meeting or to request a complete RFP package for any of the sites, please call (212) 312-3969, or e-mail info@newyorkbiz.com, referring to Opportunities for Development in the subject line.

EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, EDC helps develop businesses and create jobs throughout the five boroughs.

* Guastavino's at Bridgemarket is an excellent example of a successful redevelopment project. EDC selected Bridgemaket LP to develop the 61,000-square-foot-parcel of land below the Queensboro Bridge. The resulting 100,000-square-foot Food Emporium-Guastavino's-Conran's Design Store complex, known as Bridgemarket, is serving as a catalyst for the revitalization of the area around the Queensboro Bridge.

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