Results tagged “relatedcompanies”

After a weekend of negotiations, the MTA and developer the Related Companies have agreed to delay closing on the Hudson Yards deal, according to the NY Times: "As a result, Related will not have to make a $43.5 million down payment immediately, although the company will have to pay a nonrefundable $10 million for the delay, according to two executives who have been briefed on the agreement."

The Kingsbridge Amory in the Bronx has stood as a colossal unused edifice in the Bronx for years. The City recently negotiated with development group The Related Companies to transform the building into a commercial mall. Some residents are unhappy that a piece of their neighborhood with a lot of potential is being sold out from under them.

     

The Gowanus Canal Conservancy held a public meeting in Carroll Gardens this week to unveil renderings for a park and esplanade that would run along the Gowanus canal. The project’s dubbed Sponge Park because planners hope it will help absorb some of the raw sewage that currently contaminates the canal during heavy rainfall. (Brownstoner believes oily runoff from the nearby Gowanus Expressway is another big problem.) The idea is that when the canal is finally cleaned up sometime after 2020, Sponge Park will help keep it clean, or at least clean-ish.

           

MTA officials are reportedly in negotiations with Tishman Speyer Properties this weekend in preparation to award the real estate firm the winning bid on the 26 acre Hudson Yards property. An official announcement is expected at the MTA's board meeting next Wednesday, which will initiate four months of more detailed negotiations about the sale. The winning bidder will acquire the rights to develop commercial and residential properties at the site. A platform will also need to be built above the rail yards first, which could cost $1.5 billion above and beyond the initial purchase price.

Earlier in the week, the department of Housing Preservation and Development [HPD] revealed renderings for a proposed housing development and park on 5.8 acres of heavily polluted land by the toxic Gowanus canal. Located on the site of a former manufactured gas plant, the city has owned the land, which stretches from Smith Street to the canal, for two decades. National Grid, who took over the site from KeySpan Energy, would need at least two years to decontaminate the area, called Public Place.

Brookfield Properties, which had offered a plan to bring back streets - as well as 12 million square feet of development and 15 acres of public space - to the West Side Rail Yards, has declined to continue in the bidding process. The MTA had requested revised Hudson Yards proposals with more financial details by yesterday and the bids received were from Durst and Vornado, Tishman Speyer and Morgan Stanley, Extell, and Related Companies.

Over the weekend, hundreds rallied for Pier 40's next transformation to be a park. This Thursday, the Hudson River Park Trust is meeting to discuss two existing bids for the pier located off Houston Street, but a more recent plan, from a group of local parents who hope their $120,000 study, has been gaining some recent momentum.

The MTA has apparently narrowed down the list of contenders to develop the West Side Rail Yards - and may even ask them to team up together. According to Crain's New York, the MTA favors the developers who have already lined up tenants. Which means the front runners are The Related Companies with News Corporation and Goldman Sachs, Durst & Vornado with Conde Nast, and Tishman-Speyer with Morgan Stanley. But front runners may need to be partners as well!

While everyone knows that the proposals five development teams have offered up for the MTA's West Side rail yards are likely to change, the NY Times' architecture critic Nicolai Ouroussoff made it clear that he hopes they do, with a withering review of the five plans. Noting the great opportunity that developers have, Ouroussoff says the designs "are not just a disappointment for their lack of imagination, they are also a grim referendum on...

Today on the Gothamist Newsmap: An armored robbery in Queens, a boat in distress east of the Steeplechase Pier in Brooklyn and a school bus accident in Staten Island. The bids are in for the West Side Yards, and the companies that submitted them are Extell Development Company, Brookfield Properties Developer LLC, The Related Companies, TS West Side Holding, LLC (A Joint Venture of Tishman Speyer and Morgan Stanley), and Hudson Center East LLC...

It's difficult to know quite what to say about the huge transformations on the horizon for the Far West Side. That's partly because major negotiations and plans regarding the future of Madison Square Garden, the Farley Post Office, the Javits Center, the 7-train extension, and rezoning are taking place behind closed doors. Another reason is the uneven pace at which the planning proceeds-- years of plodding speculation followed by the sudden unveiling of a proposal, and merely a few months for public review before the deal is sealed.

South Street Seaport sea changes: amNew York reports that the mall at Pier 17 may be demolished - only for the company that owns the mall to build a new one in its place. Well, wait, make that a "mixed-use retail, residential, and open space development."

Today the NY Times introduces us to the man behind some of the city’s most boring buildings.

Development along the Hudson isn't letting up anytime soon. Now that Hudson River Park construction is well underway (and completed in some parts), proposals are being floated for refurbishing the hulking 14-acre Pier 40 terminal.

The Daily News revealed the top ten ideas in the running for the redevelopment of Governor's Island. Only 25 proposals were submitted, and while the other ideas may still be considered, these the ones the Governors Island Preservation and Education Corporation is "concentrating" on:

Nickelodeon Recreation/Miller Global Properties: Development of a Nickelodeon Family Suites themed resort complex. The company presently runs a similar operation in Orlando, near Disney World.

Continue reading "From Dora the Explorer to Fitness Facility Ideas for Governors Island"

They say that history repeats itself, but this is re-dunk-u-lous. Moynihan Station, the long-planned Penn Station expansion into the Farley Post Office that is intended to make up for the destruction of the late, great, original Penn Station (above) hasn't even been built yet but developers are already vying to build a new Madison Square Garden on top of and around it. And yes, this would be MSG number 5 for those of you keeping count at home.

In a victory for the city's theater industry and possibly good ol' fashioned American kitsch, the city's Planning Department has ruled Cirque du Soleil doesn't qualify as "legitimate theater." Therefore, the developer Related Companies won't get a special bonus for building at a lot on the far western part of West 42nd Street. Take that, Canada - you may have better healthcare and be the home of Degrassi and some Americans may go there to avoid fighting in wars no one believes in, but you can't take away money better spent on Madame Tussaud's! Oh, wait, Madame Tussaud's is British - maybe Disney wants to build a huge Chronicles of Narnia Experience there. Anywya, Related says they will look at their plans again, but most people do not think Cirque will happen (at least at that location) because, as the TImes reports, "of the prohibitive size and cost." And Related adds that the property is "not for sale, as of right now." Dunh dunh dunh.

So you are the Related Companies. You have a nice plot o' land over on 42nd and 10th, the former sites of the 286-seat Houseman and 199-seat Fairbanks theaters. Thanks to some goverment tricks, if you build some nice theaters on the site you can also build an extra-tall tower to boot. So, What do you do?

Florence Fabricant reports that restauranteur Charlie Trotter and his team of developers have cancelled their plans to open a restaurant in the Time Warner Center, a.k.a. the luxury food court.

Mr. Trotter said in a telephone interview yesterday that as his restaurant's budget climbed from $6 million to $9 million to $11.5 million, the Related Companies, the center's co-developer, decided to scale back the concept and design. . . . "I didn't want to remove some of the exciting design elements to make it work," Mr. Trotter said. "And then the concept changed to something a little more casual than we originally planned."

Continue reading "Trotting Away"

The Mayor is angry, saying, "They just pay the summonses and they go on and they continue to jeopardize everybody in this city. We are not going to have to walk down the streets and look up all the time at a building and wonder if something is going to come off it." The builders released a statement saying the three acres (!!) of roof work space was clear, but a Post reporter spied that there were still materials there. Note: Do not go near Columbus Circle.

More about the Bronx Terminal Market from Forgotten NY.