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Old March 4th, 2014, 05:11 AM   #4241
LCIII
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That's certainly very promising. Hopefully he's bullish about getting in on this current building cycle.
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Old March 4th, 2014, 06:50 PM   #4242
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1165 Broadway Revealed



NY YIMBY
http://newyorkyimby.com/2014/03/reve...-broadway.html

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The reveal comes with few additional details, but per Spector, the “current landmarked fašade will be fully restored and act as the shell for a new modern mid-rise retail, residential, [and] mixed use [building].” - read in link
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Old March 4th, 2014, 07:07 PM   #4243
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They haven't done that a lot before in NYC have they? I quite like it.
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Old March 4th, 2014, 07:07 PM   #4244
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Too bad they couldn't do that with the actual Penn Station site and build a new terminal where the tower and the Garden are now (moving the Garden next to Javits by the by). I would be happy with new Penn Station in the post office, but this would be better, much as I know it isn't likely.

Quote:
Originally Posted by Vertical_Gotham View Post
I donĺt think Related would avail of those extra air rights, I mean they decided to shorten 30 Hudson Yards and we all know that site can be much taller. I just think Related has a lot on their plate as it is. They even have air-rights from 55 Hudson which they decided not to use it all, which I think they plan to transfer that to 50 Hudson across the boulevard.

Possibly Brookfield could do it since their plans had been pretty vague as to the planned height of their Manhattan West Towers. Frank McCourt at 360 Tenth could certainly use it. I dunno, but it will be interesting as Marshall Knight says.
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Old March 4th, 2014, 07:57 PM   #4245
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Originally Posted by Vertical_Gotham View Post
1165 Broadway Revealed
I'm glad they're restoring the original facade, but the addition itself is pretty unremarkable. I think my favorite thing about it is the green roof.
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Old March 4th, 2014, 08:50 PM   #4246
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Quote:
Originally Posted by MarshallKnight View Post
I'm glad they're restoring the original facade, but the addition itself is pretty unremarkable. I think my favorite thing about it is the green roof.
It's not bad, the undulating facade makes it.
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Old March 5th, 2014, 12:29 AM   #4247
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Did you know..

Below Central Park there exist 33 mil sq ft of unused air rights.

That's 12 Empire State Buildings or 33 K apts

http://furmancenter.org/thestoop/ent...ng-development
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)
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Old March 5th, 2014, 02:13 AM   #4248
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They should build a giant cantilever skyscraper over the entire Central park.
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Old March 5th, 2014, 03:26 AM   #4249
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Right. I'm glad for that. There are plenty of parts of the City with massive new developments. The height of this specific addition surprises me, though. Isn't there a setback rule/formula that is supposed to prevent you from seeing the addition if you're standing at ground level?
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Old March 5th, 2014, 03:57 AM   #4250
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Quote:
Originally Posted by elliot42 View Post
Too bad they couldn't do that with the actual Penn Station site and build a new terminal where the tower and the Garden are now (moving the Garden next to Javits by the by). I would be happy with new Penn Station in the post office, but this would be better, much as I know it isn't likely.
I thought Vornado had those air rights. Anyway, if Moynihan does get built at the Farley Building then MSG need not move at all. That was the original plan...
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Old March 5th, 2014, 06:23 AM   #4251
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City Planning Set To Approve Two Trees' Domino Development



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The Williamsburg waterfront inches closer to its tower-tastic transformation, thanks to an agreement that was made late yesterday to increase the amount of affordable housing in the redevelopment plan for the old Domino Sugar Factory. Last week, Mayor Bill de Blasio threw a wrench in developer Two Trees' plans, which include soaring towers designed by SHoP Architects, when he demanded additional affordable housing. Two Tree's principal Jed Walentas was, obviously, less than pleased and threatened to revert to the old plan if a deal with the city could not be reached. But clearly, the weekend put him in a more amenable mood, and he has now agreed to build 537,000-square-feet of affordable housing, about 700 units out of the project's 2,300 total. The number of family-sized two- and three-bedroom affordable units will also be increased. Two Trees previously promised 660 units in 427,000-square-feet, which is still more than 20 percent they are required to build.

So what does Two Trees get out of the deal? Zoning changes that will allow the developer to build towers up to 55 stories tall, nearly double what current regulations allow. City Planning is expected to sign off on the agreement today, paving the way for the final approval from City Council. The Times reports that Two Trees will also be allowed to charge higher rents for some low-income units than they would have been allowed before. Additionally, the affordable units will be permanently affordable. Alicia Glen, the deputy mayor for housing and economic development, told the Times, "Buildings don't get shorter over time. Just like the buildings are permanently taller, the affordable units will be permanently affordable."

The de Blasio administration is touting the agreement as a victory (even though they originally wanted 550,000-square-feet), but the Journal points out that the deal is not 100 percent solidified. This new deal for affordable housing is binding—a stark contrast from the old deal with the site's former owner, CPC Resources, which was not binding—but local political leaders still want more. City councilman Antonio Reynoso told the Journal there's still "a lot of work to do" and voiced concerns over the size of the affordable units and the income levels required to qualify for the units.

[...]
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Old March 5th, 2014, 07:58 PM   #4252
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Quote:
Originally Posted by desertpunk View Post
I thought Vornado had those air rights.
They have the first 1M. According to this Crain's article from 2010, there are apparently 1.5M more. That matches the number in this week's curbed article.

This is funny money, though, right? If the city wants to get this area redeveloped, it can just rezone those blocks for as many sq. ft. of air rights as it pleases. The cost per unit will go down, but not linearly. More likely the glut of building rights in HY are delaying any developer interest in either Penn Station or PABT redevelopment.
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Old March 5th, 2014, 11:19 PM   #4253
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High Line-Hugging Condos at 505 W. 19th Now Up For Grabs
http://ny.curbed.com/archives/2014/0...grabs.php#more

Quote:
A lot of details and quite a few renderings have already been revealed for Thomas Juul Hansen's first ever ground-up luxury residential project, and now the condos in highly anticipated development at 505 West 19th Street

The project consists of a pair of 10-story buildings that hug the High Line with a shared lobby located beneath the elevated park. The west building holds just eight units—six full-floor homes, one duplex townhouse, and one duplex penthouse—while the east building has 27 units, with four per floor, save for the top two floors, which each have a penthouse.






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Old March 5th, 2014, 11:21 PM   #4254
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Domino Sugar redevelopment moves forward with City Planning Commission approval

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A key city panel unanimously approved plans for the $1.5 billion redevelopment of the old Domino Sugar refinery on the Brooklyn waterfront.

The City Planning Commission signed off on the proposal Wednesday after the de Blasio administration pressured the developers, Two Trees Management, to include more affordable housing units in the 2,300 apartment project.


Read more: http://www.nydailynews.com/life-styl...#ixzz2v7pgAg00
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Old March 6th, 2014, 10:14 PM   #4255
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Quote:
Originally Posted by desertpunk View Post
I thought Vornado had those air rights. Anyway, if Moynihan does get built at the Farley Building then MSG need not move at all. That was the original plan...
The moynihan station is only for Amtrak. The vast majority of passengers will still be using the current awful Penn Station. Hopefully MSG will move into the Farley building annex and the current penn station is totally rebuilt someday as it is an embarrassment.

What about all the air rights over MSG? That is an exciting prospect to think about. I assume if the garden moves in 10 years, the air rights could be transferred to the surrounding parcels.

Last edited by aquablue; March 6th, 2014 at 10:21 PM.
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Old March 6th, 2014, 10:19 PM   #4256
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Quote:
Originally Posted by ThatOneGuy View Post
They should build a giant cantilever skyscraper over the entire Central park.
LOL.

Anyway, why can't they transfer those air rights to surrounding parcels? Isn't it weird to have air rights locked up with no use?
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Old March 6th, 2014, 10:24 PM   #4257
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Quote:
Originally Posted by WillBuild View Post
They have the first 1M. According to this Crain's article from 2010, there are apparently 1.5M more. That matches the number in this week's curbed article.

This is funny money, though, right? If the city wants to get this area redeveloped, it can just rezone those blocks for as many sq. ft. of air rights as it pleases. The cost per unit will go down, but not linearly. More likely the glut of building rights in HY are delaying any developer interest in either Penn Station or PABT redevelopment.

After the HY and Midtown East, I assume the Penn Station area is the next big thing for development. Unless more upzonings take place in midtown in the future, it is basically the last great place to build tall free of too many nimby or historic concerns. The place is ugly and downtrodden anyway and sits on a valuable transport node. In fact, I'm surprised that HY took off first given the transport links in Penn.
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Old March 7th, 2014, 12:51 AM   #4258
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Quote:
Originally Posted by aquablue View Post
After the HY and Midtown East, I assume the Penn Station area is the next big thing for development. Unless more upzonings take place in midtown in the future, it is basically the last great place to build tall free of too many nimby or historic concerns. The place is ugly and downtrodden anyway and sits on a valuable transport node. In fact, I'm surprised that HY took off first given the transport links in Penn.
I think they tried to work out an agreement with the Dolans (sic) to sell air rights in an effort to fund a relocation, but I think the city/state dragged their feet for too long and they simply opted for a renovation.

In any case, depending upon how the Moynihan Station air rights scheme works out, we could expect something similar to help finance a Penn reconstruction.
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Old March 7th, 2014, 07:50 AM   #4259
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This is interesting. Possible expansion site for Brookfield or Related. The developer may also have the option to purchase 1.5 m sf of air-rights from the Moynihan projects that is now being offered. Lots of potential here.


NY REAL ESTATE COMMERCIAL
Port Authority Land for Sale
Amid Rising Prices, Agency Puts Two Parcels on Market

http://online.wsj.com/news/articles/...179292134.html

Quote:
The Port Authority of New York and New Jersey is selling two parcels of land in the Hudson Yards neighborhood, where a number of large projects are transforming the landscape and boosting land prices.

The agency is offering the land and development rights on either side of Dyer Avenue between West 33rd and 34th streets, a few blocks from the mouth of the Lincoln Tunnel.

The Port' Authority's request for proposal describes the land as in the heart of the West Side development district, near the planned extension of the High Line elevated park and development projects under way by Related Cos., Brookfield Office Properties Inc. and the Moinian Group.

The Port Authority has owned one of the lots for many years and purchased the other parcel initially to serve as an air shaft during construction of the now-defunct project to build another Hudson River train tunnel.

The agency said the main reason for shopping the two parcels of land, was to "maximize revenue" and provide an additional source of funding for the agency's projects.

The area was rezoned in 2005 to encourage tall towers. The No. 7 subway line is being extended to the neighborhood. The family real-estate firm of former Gov. Eliot Spitzer paid $88 million for a vacant site at 511 W. 35th St. in December.

The land in question is about 11,266 square feet and has a maximum buildable area of 490,000 square feet.

While Dyer Avenue, which stretches from the Lincoln Tunnel to 30th Street between Ninth and 10th avenues, runs through the land and must remain open during any development, developers have various options.

For example, developers can construct a platform over Dyer Avenue and build a development on top of it. But they can also avoid the expense of a platform by combining the development rights of the two lots on one parcel or on another site on the block.

Developers could place all of the development on the land east of Dyer Avenue and restrict construction to a cantilever over the roadway.

All proposals are required to include a landscaped public space running through the block connecting 33rd and 34th streets.

Just south of that, Brookfield's $4.5 billion Manhattan West project has proposed a similar strip of landscaped open space extending through the block.
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Hudson Yards mega development Map: June 2015
http://i.imgur.com/FVrYwpy.jpg
(click again once inside to enlarge the map)

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Old March 11th, 2014, 09:19 AM   #4260
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World Trade Center arts center faces uncertain future

Non-profit board waiting for de Blasio to weigh in on $469 million project



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March 10, 2014 02:14PM

The planned performing-arts center at the World Trade Center in Lower Manhattan faces stiff competition for funds.

A pet project of Mayor Bloomberg, who appointed the first members of the managing non-profit’s board in 2011, the $469 million project now sits in limbo while Mayor Bill de Blasio comes to a decision about the future of the planned center.

The center is not only competing with the 9/11 Memorial & Museum for government funding, but more prominent arts projects for private donations, the Wall Street Journal reported.

“We are still considering how this should fit into the broader redevelopment strategy for the World Trade Center site,” a spokesperson for Mayor de Blasio told the Journal.

The current plan for the center calls for the construction of three small theaters ranging from 150 to 550 seats. Those theaters would host a mix of theater, music and dance. So far, a total of $155 million in federal funds have been allocated, the Journal reported.

The center’s director Maggie Boepple declined interview requests from the Journal, and a spokesperson said only that no arts organization will know what new Mayor Bill de Blasio is thinking until he appoints a cultural-affairs commissioner. Board Chairman John Zuccotti, co-chairman of Brookfield Office Properties, also declined to comment to the Journal.

A previous version of the planned theater envisaged a building with 1,000 seats in a structure designed by architect Frank Gehry. Whether Gehry will be involved now is unclear, according to the Journal.
Time to let go of this abortion and return the site to tower development.
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