NEW YORK | Empire Station District | 9 Towers (18-20 msf)| FT | FLOORS
http://www.crainsnewyork.com/article...lasio-outraged
Cuomo pushes Penn Station district takeover; de Blasio outraged Deputy mayor objects as governor seeks huge towers to pay for transit-hub improvements By Daniel Geiger March 28, 2018 Quote:
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http://www.nydailynews.com/new-york/...icle-1.3902346 Cuomo pitches eleventh-hour plan for state control of land near Penn Station By Glenn Blain Quote:
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https://www.nytimes.com/2018/03/28/n...velopment.html Cuomo Seeks State Control of Penn Station Neighborhood By JESSE McKINLEY MARCH 28, 2018 Quote:
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A rough outline of where that would be... http://a4.pbase.com/o10/06/102706/1/...lzONPq.G2c.jpg |
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I absolutely support Cuomo on this. This is what dumb NYC should be doing in many areas of the city. Sell development rights to use for infrastructure improvement but it so far has not taken advantage of this valuable source of revenue.
Of course, the narrow and NIMBY-minded NYC politicians are attacking it already. |
Furthermore it’s not even that big of an area that we are talking about here but yet if you were to listen to this Deputy Mayor Glen and City Council Speaker Johnson clowns, you’d think they are doing it all over the city.
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This is really simiialr to the Grand Central rezoning from a few years ago and Debozo was a huge fan of that. Now, because he didn’t think of it and has very little say it in, he is bashing it.
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It's amazing when you think about it, that the area around Penn Station has remained as under-developed as it has. This should have been taken on years ago.
Mayor Bloomberg got Hudson Yards pushed through, mayor de Blasio go Midtown East pushed through. Cuomo has long been on his building big push, this "new" New York they've been talking about, so I've been expecting something like this from him. I'm sure the City will get on board, despite the animosity between de Blasio and Cuomo. Things can't continue to stay the way they are, as they have been allowed to do for so long. |
While I'm not crazy about the prospect of the state having the ability to usurp local zoning/etc, the city brought this on themselves, rezoning the POS neighborhood around Penn to pay to improve Penn should have been done 15 years ago.
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Cuomo is 100% right. The city and Vornado have been fiddling for 20 years now, still with no action.
The Penn Station area needs to be redeveloped. Time for the state to step in and get things moving. It's incredible that the neighborhood with the busiest train station on earth outside Japan, with the highest pedestrian counts in the Western world, with ownership almost completely in the hands of a a single mega-billionaire developer, cannot get anything going. This should be the best location in NYC, with the densest concentration of towers. |
^ I agree.
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The irony is that this is exactly what the city has done on both the east amd west sides - use towers to get improvements to those areas. |
As usual with tge NIMBYs, the prospect of height is threatening...
https://www.6sqft.com/governor-cuomo...-station-area/ Governor Cuomo looking to give the state control of Penn Station area MARCH 29, 2018 BY MICHELLE COLMAN Quote:
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I think it would be glorious. |
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But yeah, we'll get that pesky envirinmental review out of the way first. Because all it's gonna tell us is that Manhattan is already covered with an awesome amount of skyscrapers, a few more aren't gonna trigger Armageddon. https://www.newsday.com/opinion/colu...ute-1.17725893 Quote:
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Does this mean that the Penn Tower on the Hotel Pennsylvania site is dead?
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As long as they keep their hands off of One Penn Plaza!
Still, something about this- giving the state sweeping powers to seize private property- doesn't sit well with me. |
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It'l be a good question what role vornado plays in all of this. Since they own the vast majority of the site. The one PP block needs a serious rethinking though, the 2 single story retail stumps on either end are abysmal.
If the planners at hand were forward thinking enough, a full teardown of One Penn would allow for the installation of new tracks north of Penn Station at the location of the existing LIRR concourse. Gateways proposing new tracks on the block south of 30th and taking a small piece of the block across 7th avenue. That's a lot of smaller landowners/acquisition that'l cost a fortune for Amtrak or the state to buy out. |
Did you read the second article I linked to? Vornado's got plans for One Penn, and I suspect that any attempt by the state to commandeer it will be fought tooth and nail.
I'm pretty sure that One Penn is their most profitable building, and they're fixing to make it even more so. |
Read it when the article came out, but if the state puts new air rights on the table/promises to rework Penn station that changes the equation. The asking rent in 1 Penn is paltry compared to HY right now and vornado is famously slow to act.
It would be different if this building was across the street, but functionally, Penn Station needs more platforms to accompany anything cosmetic they do to the building. And like I said Gateway plans to add it to the south, but getting that land is going to be messy, expensive, and take a generation. To me it'd be easier to make an arrangement with vornado to rework the property they own and give them generous air rights for something new on top. |
Somehow I can't see Vornado agreeing to take out its own bell cow, even if they were given rights to build someplace else, that's going to take years- years that they're not collecting rent. Improving the current building will allow them to jack up the rent they're asking too.
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