http://www.crainsnewyork.com/article/20101208/REAL_ESTATE/101209858 Extell Development Co.'s proposed 3.1 million-square-foot mixed-use project on the Upper West Side received unanimous thumbs up from two City Council committees on Wednesday, signaling it will be approved by the full Council later this month. Extell had pledged to build a 75,000-square-foot school but the community wanted to... [more]
http://www.crainsnewyork.com/article/20101208/REAL_ESTATE/101209858
Extell Development Co.'s proposed 3.1 million-square-foot mixed-use project on the Upper West Side received unanimous thumbs up from two City Council committees on Wednesday, signaling it will be approved by the full Council later this month.
Extell had pledged to build a 75,000-square-foot school but the community wanted to double the size of the facility. Now, Extell has promised to build a 100,000-square-foot school, Ms. Brewer said.
The councilwoman had also wanted Extell to pledge 20% to 30% of the units on site as affordable housing. Under the deal, the developer will build 500 units of affordable housing, or 20% of the total, but only 9% of them will definitely be on site, she said. The rest will either be on site or at another location.
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Response by nyc10023
over 15 years ago
Posts: 7614
Member since: Nov 2008
Maybe I didn't waste 5 hours going to that meeting then.
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Response by Riversider
over 15 years ago
Posts: 13573
Member since: Apr 2009
Wonder where the affordable housing gets built?
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Response by Riversider
over 14 years ago
Posts: 13573
Member since: Apr 2009
Must say, after reading the latest news I was disappointed.
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The pool of prospective buyers for two parcels that are part of the massive Riverside Center development has been whittled down to a handful of deep-pocketed investment trusts and locals like Related Cos.
Potential buyers will be allowed to place second-round bids on two parcels that can be developed into 1.35 million square feet of mostly residential along West End Avenue between West 59th and 61st Streets.
The planned apartment buildings, known as No. 2 and No. 5, will be constructed as part of the mega-project being developed by Gary Barnett’s Extell Development and the Carlyle Group. The Riverside Center site comprises the southernmost portion of Riverside South.
We slogged through 559 pages of restrictive declarations (what we did on our winter vacation) to learn that a public school is slated for the 43-story No. 2 building and that day care for 45 children or more may be required somewhere in about 10,000 square feet.
The sale ensures that meeting the city’s affordable-housing requirement — along with a number of other community-space requirements — will fall to the buyer of the two parcels.
Not surprising. I can't remember the exact facts, but something similar happened on the northern part of the Hudson Rail Yard. 1) This means that the construction of the school will be pushed out further, something that the CB really tried to ensure would not happen and 2) the danger that the buyer will wiggle out of the original happen (this happened with the northern of the Rail Yard).
Maybe I didn't waste 5 hours going to that meeting then.
Wonder where the affordable housing gets built?
Must say, after reading the latest news I was disappointed.
------------------
The pool of prospective buyers for two parcels that are part of the massive Riverside Center development has been whittled down to a handful of deep-pocketed investment trusts and locals like Related Cos.
Potential buyers will be allowed to place second-round bids on two parcels that can be developed into 1.35 million square feet of mostly residential along West End Avenue between West 59th and 61st Streets.
The planned apartment buildings, known as No. 2 and No. 5, will be constructed as part of the mega-project being developed by Gary Barnett’s Extell Development and the Carlyle Group. The Riverside Center site comprises the southernmost portion of Riverside South.
We slogged through 559 pages of restrictive declarations (what we did on our winter vacation) to learn that a public school is slated for the 43-story No. 2 building and that day care for 45 children or more may be required somewhere in about 10,000 square feet.
The sale ensures that meeting the city’s affordable-housing requirement — along with a number of other community-space requirements — will fall to the buyer of the two parcels.
Read more: http://www.nypost.com/p/news/business/realestate/commercial/round_bids_for_riverside_jXKfHXNkuSVmR7x7eys03J#ixzz1jA9Dvecd
Not surprising. I can't remember the exact facts, but something similar happened on the northern part of the Hudson Rail Yard. 1) This means that the construction of the school will be pushed out further, something that the CB really tried to ensure would not happen and 2) the danger that the buyer will wiggle out of the original happen (this happened with the northern of the Rail Yard).
one57 residents get a discount?