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Development over the yards is just one element of an ambitious effort by the Bloomberg administration to transform the Far West Side.
Similar(59)
Morgan Stanley has formed a financial partnership with Tishman Speyer Properties, one of five developers that are expected to submit bids next Thursday for the development rights over the yards that straddle 11th Avenue, between 30th and 31st Streets, said banking and real estate executives who have been briefed on the plan.
Forest City has neither begun to pay the Metropolitan Transportation Authority the $100 million they agreed to for development rights over the yards — and is, in fact, negotiating the price sharply downward — nor begun to move the tracks to a far end of the site.
Local residents have repeatedly proved that they desire development over the M.T.A. yards that is fair and inclusive and has a city-led review process, rather than a developer-driven project that relies solely on well-oiled connections to the governor and the mayor for approval.
It envisioned a sprawling cultural center and Fordham campus on the squalid West Side, a civic plaza in Downtown Brooklyn that Robert Moses promised would rival the Piazza San Marco in Venice, a grand development over the Sunnyside railroad yards in Queens, and a Palace of Progress devoted to world trade atop a reconstructed Pennsylvania Station.
But the M.T.A. did develop a master plan in 1989 that envisioned a seven-block development over the 30 acres of rail yards, with proceeds from the sale of development rights going to transit programs.
A couple of years ago, she was seated at a dinner next to Jim Lowenberg, a developer who had built a number of mediocre condominium towers in a huge development over the old Illinois Central rail yards, known as Lakeshore East.
Plans call for the development of 12 million square feet of residential and office buildings and retail space over the yards.
Significant developments, concerning the yarding methods, occurred during the last decade (see Figure 3).
More money was to come from selling development rights over the truck-marshaling yard.
"They're jumping all over the yard".
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