Posted Nov 4, 2019, 4:32 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,815
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https://therealdeal.com/2019/11/04/a...ul-union-ally/
Ambitious Bronx project gains powerful union ally
The $3.5 billion Fordham Landing requires City Council approval
November 04, 2019
By Eddie Small
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A breathtakingly ambitious Bronx project now has Gary LaBarbera in its corner.
The president of the Building and Construction Trades Council of Greater New York came out strongly in favor of the project during a tour of the expansive site, citing the employment the development would create.
“It is going to open opportunity for thousands of jobs, 10,000 permanent jobs for residents of the Bronx,” the powerful labor leader said. “And it’s going to create 8,000 construction jobs.”
LaBarbera’s support is not a surprise, given that the developer has pledged to build it with union labor exclusively. But it is important because his endorsement will make it easier for the $3.5 billion project to win the City Council approval it needs without having to make extensive concessions beyond the amenities it is already promising.
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LaBarbera said that the AFL-CIO’s Housing Investment Trust, Building Investment Trust and Union Labor Life Insurance Company were all “very interested in investing in this project.”
“So we see this project as a unique relationship,” he said. “This is a partnership between union pension funds, union building trades, and the development team.”
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