New York, NY – May 21, 2010 – (RealEstateRama) — New York City Economic Development Corporation (NYCEDC) in cooperation with the New York City Department of City Planning (DCP) announced the installation of the first new storefront improvements through the Fulton Nassau Crossroads Program this week. The program is a part of the City’s ongoing commitment to the revitalization of Lower Manhattan since September 11th and is made possible by a grant from the Lower Manhattan Development Corporation, which is funded through Community Development Block Grants from the U.S. Department of Housing and Urban Development. Storefront improvements will begin on five stores this week including, Calderon Locksmith, 150 Market, Royal Barbershop, Lot Less, and Terrace Fish & Chips, and there are another 59 in the pipeline.
The program is available at little or no cost to eligible businesses located on Fulton Street between Broadway and Water Streets, or on Nassau Street between Spruce Street and Maiden Lane. Approximately 150 storefronts in 80 buildings are eligible to participate in the program. Building improvements must follow a set of design guidelines developed by the City. The program has three levels of participation:
- Level 1 covers basic storefront improvements such as new signage and replacing security grates. At this level, the program will cover 100% of all design and engineering costs and all construction costs up to $15,000 for the average building.
- Level 2 improvements include new lighting, replacement of air conditioning and ventilation, improvements to store windows and ground floor façade detailing. At this level, buildings are eligible for 100% of design and engineering costs and up to two thirds of construction costs not to exceed $60,000.
- Level 3 improvements include window replacement or renovation, cornice and parapet repair, main entrance and/or replacement of façade material for entire façade. Participants at this level are eligible for coverage of 100% of design and engineering costs and up to two-thirds of construction costs, not to exceed $200,000.
Each participating building should emerge from the program with its own distinctive design that celebrates the historic architecture, contributes to the neighborhood’s character, and serves retail.
“This program provides businesses in the area a truly unique opportunity to improve their facilities and at the same time enhance the beauty of some of New York City’s most historic architecture,” said NYCEDC President Seth W. Pinsky. “Fulton Nassau Crossroads is an important element of the City’s comprehensive vision for Lower Manhattan and I look forward to seeing the improved façades and storefronts as this project moves ahead. As tourism continues to increase throughout downtown Manhattan this project should help attract customers to participating businesses and improve their pedestrian experience as they walk along these historic streets.”
“Mayor Bloomberg’s vision for Lower Manhattan recognized the importance of Fulton Street as a critical east-west connector from the World Trade Center Memorial to the East River Waterfront,” said City Planning Commissioner Amanda M. Burden. “Facilitating these façade and storefront improvements focused on enhancing Lower Manhattan’s densest concentration of street level retail will improve the pedestrian experience by creating a more dynamic streetscape and greatly benefit businesses, building owners, residents and visitors.”
“This program is going to transform my storefront and revitalize my business,” said Unchu Kang, the owner of 150 Market, which will begin receiving storefront improvements this week. “Not only will this help me but once all my neighbors begin to have their storefronts redone it should help the entire neighborhood. I thank NYCEDC and DCP for making our community and businesses a priority.”
The program is managed by NYCEDC with DCP and other agencies. Design services are provided by Perkins+ Will, construction management and outreach services are provided by Hudson Meridian, and historic preservation services are provided by Li/Saltzman Architects.
To view a rendering of the new storefront for Calderon Locksmith as well as an image of the existing storefront go to http://www.nycedc.com/PressRoom/PressImages/Pages/PressImages.aspx#17.
NYCEDC encourages all eligible storefronts and buildings to participate. For more information or to apply contact NYCEDC at 212-FULTON1 (212-385-8661), e-mail crossroads (at) nycedc (dot) com or visit www.nycedc.com/crossroads.
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 to learn more about NYCEDC projects and initiatives.
CONTACT:
David Lombino/Kyle Sklerov
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