RFP Seeks Proposals to Redevelop Centrally Located, High-Density Site in the Heart...

RFP Seeks Proposals to Redevelop Centrally Located, High-Density Site in the Heart of Lower Manhattan

WASHINGTON, D.C. – February 23, 2015 – (RealEstateRama) — New York City Economic Development Corporation (NYCEDC) announced a Request for Proposals (RFP) to redevelop a site located at 137 Centre Street in a manner that responds to the needs of the community, revitalizes an underutilized City property, and maximizes the site’s potential.  NYCEDC particularly seeks proposals that incorporate needed services or neighborhood amenities, such as space dedicated to a Universal Pre-Kindergarten facility.

The easily accessible site, located at the intersection of TriBeCa, Civic Center and Chinatown, in close proximity to vibrant business and residential neighborhoods from the Financial District to SoHo, has a total as-of-right development potential of over 125,000 square feet. The assemblage consists of the 137 Centre Street site, which houses City office space, and also contains approximately 10,000 square feet of unused development rights. Additionally, the site is being offered with approximately 74,370 square feet of unused development rights appurtenant to an adjacent lot owned by Downtown Community Television Center, Inc. (DCTV), a local nonprofit media arts center.

“Lower Manhattan is not simply a financial center of New York City, and 137 Centre Street is positioned to take advantage of the area’s emergence as a residential and cultural hub,” said NYCEDC President Kyle Kimball. “Contextual development that meets the needs of this growing and diverse community, potentially including the creation of pre-kindergarten space, will enhance the neighborhood and surrounding communities as we continue to work toward a New York City that is more equitable for all residents and businesses.”

“As one of New York City’s longest standing lower Manhattan media arts institutions, DCTV is very pleased to be part of this exciting new development that will build and strengthen our community,” said DCTV Co-Founder and Co-Executive Director Jon Alpert. “The sale will benefit our City, our neighborhood and our community media center.  It’s an opportunity to convert development rights into classrooms, studios, equipment and services that will help us better serve our fellow citizens.”

A new development on the site will be poised to capitalize upon the ongoing growth of Downtown Manhattan. The site, located within Community District 1, sits at the nexus of some of the City’s preeminent business and commercial districts, residential neighborhoods, tourist destinations, and public transit options. The area’s revitalization has been catalyzed by major investments including the Word Trade Center, Fulton Transit Center and the East River Esplanade, which has led to extensive residential and commercial development. With over 61,000 residents, the residential population of Community District 1 has grown substantially in the last decade, a trend that is expected to continue in the coming years.

Lower Manhattan is also home to some of the City’s most significant business centers and tourist destinations, welcoming an estimated 11.5 million visitors annually. Major destinations include the National 9/11 Memorial and Museum, the New York Stock Exchange, Federal Hall, the African Burial Ground National Monument, and the National Museum of the American Indian at Bowling Green.

“This is a win-win-win for the City, the neighborhood and for one of the city’s premier community resources, DCTV,” said Manhattan Borough President Gale A. Brewer. “I’m delighted that the NYCEDC has worked with my office to include a preference for pre-K school seats in any proposal and affordable housing in residential proposals. Those components will enhance the downtown community, and the sale of DCTV’s air rights over its historic firehouse headquarters will fund an endowment that should ensure DCTV’s survival for decades to come.”

“This RFP will go a long way toward helping the Downtown Community Television Center—an outstanding local nonprofit—raise crucial funds and secure its long term financial health,” said Councilmember Margaret Chin. “I’m also very pleased that EDC has included a preference for pre-k school seats in this RFP. I look forward to working with EDC to make sure that a new community or cultural facility is included with any revitalization of 137 Centre Street, such as pre-K.”

“Community Board 1 is looking forward to NYCEDC receiving creative community oriented proposals that will be appropriate for this neighborhood that is rapidly becoming a mixed-use residential neighborhood,” said Board Chair Catherine McVay Hughes.

Respondents will be selected based on their ability to meet the following goals:

  • Maximize the development potential of the Site and value for the City and its partner, DCTV;
  • Develop the Project in a manner that responds to the needs of the community and provides needed services or neighborhood amenities, such as community or cultural facilities;
  • For all residential Proposals, create a thriving mixed-use, mixed-income development with preference for proposals that include an affordable housing program consistent with the City’s affordable housing plan, Housing New York, and which contributes to the City’s goal of fostering economically diverse neighborhoods;
  • Responsibly develop the Project by delivering on a comprehensive hiring and wage program that supports communities, helps create job opportunities, and creation employment opportunities for low-income persons, enabling them to participate in New York City’s economic growth;
  • Incorporate design excellence in the site plan and building designs to encourage active street life, thriving retail and creative integration of the project into the local context;
  • Plan and execute a feasible development that ensures the project requirements will be achieved;
  • Generate sale proceeds to the City to include compensation for tenant relocation; and
  • Provide new tax revenue through the Project.

Sale of the site, acquired by the City in 1924, will revitalize an underutilized City property. The site consists of approximately 5,100 square feet of land area and contains an approximately 45,000 square foot, 9-story municipal office building. The New York City Department of Citywide Administrative Services plans to relocate the building’s agency tenants prior to construction of a new development.

Proposals must be submitted by April 30, 2015. For more information and to download the RFP, visit www.nycedc.com/rfp.  Interested parties are strongly encouraged to attend the information session and site visit, which will be held at 2:00 p.m. on Thursday March 12 at NYCEDC’s offices. Those who wish to attend this event should pre-register by emailing 137CentreStreetRFP (at) edc (dot) nyc.

About NYCEDC

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.

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NYCEDC

New York City Economic Development Corporation (NYCEDC) is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.

Contact:

Phone: (212) 619-5000

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