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A grandiose plan to turn Pier 40 on Manhattan's West Side into a riverside pleasure-dome was killed by the Hudson River Park Trust. The Trust objected to developer The Related Companies' insistence on a 50-year lease, because it had stipulated a 30-year lease.
The Related Companies was willing to pay $625 million for the longer lease to create a permanent venue for the Cirque du Soleil as well as the Tribeca Film Festival. The Trust's chairwoman Diana Taylor said, "I would have loved to offer a longer lease but that is not within our power. It is up to the state Legislature and we have been told in no uncertain terms that it is not happening."
Any improved facility would only have to generate $6.5 million annually to financially justify any improvements--it will take about $120 million to repair the deteriorating piers. Neighborhood critics offered up their own plan, the Pier 40 Partnership, that includes schools, artists studio and green space. Now it's suggested P40P will team up with another organization, non-profit CampGroup/Urban Dove, to develop the site.
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Finally some good news. Even the big guys have to play by the rules sometimes.
The garbage garage is the next thing to get rid of in Hudson Square.
"A grandiose plan to turn Pier 40 on Manhattan's West Side into a riverside pleasure-dome was killed by the Hudson River Park Trust."
Kubla Khan is displeased.
Navy Pier in Chicago brings in a ton of tourist dollars. This could have done the same.
Thank God. Can we just turn it into some improved sports fields please?
It's good for the kids that use the fields, I am glad that it was squashed.
that's too bad any new proposals that can add a new stimuli to the city seems to be shut down. maybe it can just be a nice new public park?
YAY! We need public space that's good for recreational activites....especially there since the Hudson River Park is so great.
NO MORE Disneyland or Vegas-style crap. Ain't Times Square enough already?
I hear the South Street Seaport is suffering for dollars, perhaps Related should take their tourist bus attraction down there and see how it flys.
It's a tourist trap already, how much more can they destroy it?
you nimbys are fools. this was going to be built on a pier. it would have been a nice addition to the city. instead you will be left with a dilapidated mess, especially considering the financial situation facing the city and state.... but you get what you deserve.
The city and state couldn't give a shit about Pier 40. Where were their dollars when the dollars were needed?
A nice addition to what? We have 42nd street and the Statue of Liberty how many other tourist attractions does this city need?
Additionally,the area in front of Pier 40 both north to Clarkson and south to Canal has been the dumping ground for a lot of the construction going on in the HRP since before 9/11. So screw the rest of the park, it's about time the park at Pier 40 stops being the orphan child and let the community finally get its fair share of a finished park.
You're going to be hearing about quite a bit of canceled real estate plans as time goes on.
@12: That's the understatement of the year.