The New York Times looks at area-wide development coming to Staten Island’s North Shore:
“We really believe that this is a transformational moment for the North Shore of Staten Island,” said Seth W. Pinsky, the president of the city’s Economic Development Corporation. “Staten Island is entering into a golden age.”
Read the full article and explore NYCEDC’s many projects on Staten Island, including the St. George Waterfront and New Stapleton Waterfront redevelopment projects.
Image credit: Concrete via NYTimes
Photos from 8th Annual NYC Development Finance Conference
On April 16, NYCEDC hosted developers, not-for-profits, Community Development Entities, investors and others for a full day of programming on development finance tools and incentives. Find out more about the sold-out event.
April 2013 Economic Snapshot: Housing Ownership and Rental Trends
Do you rent or own in New York City? For our April 2013 Economic Snapshot, NYCEDC looked at the City’s housing ownership and rental trends in the nation’s largest housing market with more than 3 million total units of housing for 8.2 million residents. Some facts we found:
- New York’s home ownership is on the increase, at a rate of 31.3% in 2011, higher than its rate of 30.2% in 2000 and nearly ten percentage points higher than its rate of 23.4% in 1980.
- At the borough-level, Brooklyn was home to the largest share of the City’s occupied housing units in 2011 (29.8%), slightly below its share of population (30.8%).
- In 2011, Staten Island had the highest home ownership rate of any borough at 68.9%, which was also higher than the national rate of 64.6%. The ownership rate in Queens was 43.0%; in Brooklyn it was 28.7%. The Bronx had the lower ownership rate at 19.0%, just below the rate of 21.9% in Manhattan. Every borough, however, has experienced an increase in ownership rate since 1980.
Listen to our podcast and read the full snapshot for more insights. For previous Economic Snapshots, visit our economic data archive on NYCEDC’s website.
Today is our all-day NYC Development Finance Conference at Brookfield Place for developers, not-for-profits, Community Development Entities, and investors! View the full agenda and follow the conversation on Twitter using #DevFin.
We are just one month away! Seats are filling up fast with attendees ranging across hundreds of companies. Register today for the 8th Annual NYC Development Finance Conference.
With over 20 event speakers and panelists from the top public and private institutions in the development industry, key agenda areas will feature Tax Credit Programs, such as New Market Tax Credits and Historic Tax Credits, New York City Industrial Development Agency programs, Build NYC tax exempt financing, New York State Excelsior, and many other informative topics. Thanks to our conference partners Brookfield, US Bank, Goldman Sachs, Cannon Heyman & Weiss LLP, and Nixon Peabody LLP.
Get the conference agenda and full list of attending companies and organizations.
Agreement to Sell 2 City-Owned Buildings to Reduce Govt Office Space
Today, Mayor Bloomberg announced an agreement to sell 2 City-owned buildings for nearly $250 million as part of the Administration’s plan to reduce City government office space by 1.2 million square feet by 2014. The Mayor first announced the intention to sell the properties of 49-51 Chambers and 346 Broadway in his State of the City address and it represents a major step to increase efficiency by eliminating underused office space and relocating employees to office environments that better serve the City’s needs.
The City will work with Peebles Corporation who purchased 346 Broadway to convert 16,000 square feet of the space into a digital arts and media space dedicated to public use. The properties will be redeveloped as a mix of hotel, residential and community uses and is anticipated to bring in excess of $500 million in private investment as well as more than 550 construction jobs and 60 permanent jobs.
For more, visit nyc.gov.
Source: nycgov
After Years of Delay, a Lower East Side Gap Is Ready to Be Filled (The New York Times)
Find out more about Seward Park, one of the largest development projects of Mayor Bloomberg’s administration.
Photo credit: Todd Heisler/The New York Times
Survey: NYC's Commercial Real Estate Competitiveness
Are you an NYC business that occupies or is looking for high-quality, affordable office space? If so, please consider participating in a short 5-7 minute survey.
This survey is part of a study that NYCEDC in partnership with Alvarez & Marsal Real Estate Advisory Services and JRT Realty is conducting to better understand the growing demands for office space from emerging and high-growth industries. Your input will help inform policies to ensure NYC is poised to meet the future space needs of the City’s rapidly growing sectors.
The information provided to us will be kept strictly confidential and used only for the purposes of this study. Thank you!
Take the Survey: NYC’s Commercial Real Estate Competitiveness
Are you an NYC business that occupies or is looking for high-quality, affordable office space? If so, please consider participating in a short 5-7 minute survey.
This survey is part of a study that NYCEDC in partnership with Alvarez & Marsal Real Estate Advisory Services and JRT Realty is conducting to better understand the growing demands for office space from emerging and high-growth industries. Your input will help inform policies to ensure NYC is poised to meet the future space needs of the City’s rapidly growing sectors.
The information provided to us will be kept strictly confidential and used only for the purposes of this study. Please take the survey now.
NYCEDC and HPD Announce Request for Proposals to Develop 1.65 Million Square Feet of Mixed-Use Real Estate on Manhattan’s Lower East Side
The development of the fully approved site will fill a gap in New York City’s urban fabric that has persisted for 45 years, creating 1,000 housing units, hundreds of thousands of square feet of new commercial space, 1,000 permanent jobs and 5,000 construction jobs. For more information and to download the RFP, visit: www.nycedc.com/sewardpark.
