Archives of the Mayor's Press Office

MAYOR GIULIANI ANNOUNCES NEW DEVELOPMENT OPPORTUNITIES IN BROOKLYN AND MANHATTAN

"Many of the City's neighborhoods have experienced significant growth and investment by the private sector as a consequence of our development efforts," said Mayor Giuliani. "We are confident that the revitalization of these underused properties will boost local economies and generate more jobs and revenue for New York City."

Together the seven sites contain approximately 300,000 square feet of space suitable for commercial, industrial and retail uses. Site locations include Washington Heights and Downtown Brooklyn; retail possibilities in East Harlem and East New York; space in the East New York In-Place Industrial Park, Brooklyn; a site in the historic South Street Seaport district, Lower Manhattan; and one in the East Village.

"Mayor Giuliani has shown a strong commitment to redeveloping the City's neighborhoods," said Deputy Mayor for Economic Development and Finance Robert M. Harding. "Harlem and East New York are becoming thriving residential districts, thanks to efforts such as these. In the year 2000 alone, EDC closed on 18 property transactions, which will result in 4.3 million square feet of new development and create almost 3,000 jobs."

EDC uses a number of criteria to evaluate proposals, including economic impact on New York City, development team qualifications, financial feasibility, relationship to the community, architectural and urban design, and environmental impact.

"Businesses have been searching for real estate to expand or start-up their operations in New York City," said EDC President Michael G. Carey. "We are offering a number of locations that will enable companies to take part in the emerging business communities of the City. Mayor Giuliani's commitment to improving the business climate in New York City has made it possible for us to develop valuable properties like these."

Proposals are due by 2 p.m. Wednesday, September 26, 2001. There will be an informational meeting on Wednesday, August 1, 2001 at 9 a.m. at the New 42nd Street Studios, 229 West 42nd Street. To request a complete RFP package for any of the sites, or to make reservations for the informational meeting, please call (212) 312-3969 or e-mail info@newyorkbiz.com, referring to Opportunities for Development on 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. EDC is also responsible for the sale of City-owned land for economic development.

SUMMER 2001 REQUESTS FOR PROPOSALS: The Properties

Washington Heights Parking Garage, Manhattan
EDC is seeking proposals for a 375-space parking garage with street-level retail for this approximately 22,404-square-foot lot, located on Broadway between 184th and 185th Streets. The site is accessible by subway and several major expressways. Eligible projects for this site may also qualify for the Industrial and Commercial Incentive Program (ICIP), which offers up to 25 years of tax exemptions and abatements on the value of improvements to the site.

Upper Fifth Avenue, East Harlem
Approximately 7,525 square feet of vacant land are available for development in East Harlem on Fifth Avenue between East 115th Street and East 116th Street. The site is zoned R7-2 with a C1-4 overlay, and is suitable for residential or commercial development. The location offers excellent public transit access via the 2/3 and 6 subway lines, as well as bus lines M1, M102 and M116. It is approximately one-quarter mile from Metro-North's East 125th Street rail station. The site is located within a Federal Empowerment Zone and may qualify as a New York State Empire Zone Equivalent Area. It, therefore, may be eligible for wage tax credits, investment credits, utility rate credits, utility rate reductions, increased Selection 179 deductions, and new tax-exempt bond financing. Eligible projects may also qualify for the ICIP.

Alphabet City Assemblage, Manhattan
Approximately 15,111 square feet of vacant land are available for development on Avenue D between East 7th and East 8th Streets. The lot is zoned R7-2 with a C1-5 overlay, and is suitable for community use, as well as commercial and residential development. The location offers public transit access via the N and R subways to 8th Street and the number 6 subway line to Astor Place, as well as the M8, M14 and M21 bus lines. Eligible projects may qualify for the ICIP.

South Street Seaport, Manhattan -- Block 97
A 33,000-square-foot site, in the South Street Seaport Historic District, is available for rehabilitation and development. It consists of 15,565 square feet of vacant land, plus additional lots with 80,000 square feet of historic loft buildings. The site is ideal for commercial, residential or some types of institutional development. The lots are located on both sides of Front Street between Beekman and Peck Slip, just north of the Seaport's pedestrian shopping area and easily accessible by subway or bus.

Livingston and Bond Street Municipal Garage, Brooklyn
This easily accessible downtown Brooklyn site is located one block from the Fulton Street Mall. The site's footprint is approximately 50,000 square feet and features a 4.5 story, 606-space municipal parking garage. There is also capacity for approximately 16,000 square feet of street level retail space. The site, which is in a C6-1 zoning district, is located near Brooklyn's Civic Center, as well as shopping and other amenities.

East New York In-Place Industrial Park (IPIP), Brooklyn
Several industrial sites, ranging from 11,800 square feet to 38,200 square feet of vacant land in this 40-block industrial park are being offered by EDC. Home to more than 100 light manufacturers that provide approximately 2,500 jobs, the East New York In-Place Industrial Park attracts a large and diverse labor pool and provides a variety of services. The park is easily accessible by bus, subway, Long Island Rail Road, and many major roads. Available sites are located within a New York State Empire Development Zone, making them eligible for business wage, sales, and investment tax credits.

East New York Retail Strip, Brooklyn
EDC is offering six vacant City-owned plots of land totaling approximately 101,700 square feet in this revitalized Brooklyn neighborhood. The sites are suitable for neighborhood retail and commercial development. Nearly 2,000 new housing units have been recently completed or are under construction in the area that will support much-needed retail and service development. The sites are accessible by an adjacent subway station.