CityRealty Insider > New Developments in the News

New Developments in the News

AUGUST 10, 2009

The stop-and-go story of Manhattan development

To add to your recession deadpool feed: A list of stalled buildings that the New York City Department of Buildings begun updating based on the findings of a five-person department task force. The tally at the end of July put the number of stalled buildings in the city at 395, 68 of which are in Manhattan. Better news: A bill was introduced at City Council that would give extensions on building permits to developers who adhere to certain standards of safety and maintenance at sites that were stalled by the financial crisis. The intent of he measure is to give them a bit more time to get their finances in order.

A team headed by Young Woo & Associates —developers of the nearby Chelsea Arts Tower and a condo-in-progress at 200 Eleventh Avenue—has been selected to redevelop Pier15 (between 15th and 16th Streets) on the Hudson River, with LOT-EK as the design architects. The team's proposal for the $210 million redevelopment effort includes plans for a Contemporary Culture Complex, a big rooftop venue for the TriBeCa Film Festival, a covered open-air marketplace built from those architecturally-chic recycled shipping containers and an "underwater discovery center."

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