Development Proposals Sought For NYC’s Governors Island

Posted by Orb Staff on December 12, 2012 No Comments
Categories : Commercial Mortgage

12900_320px-governorsisland Development Proposals Sought For NYC's Governors Island One of the last undeveloped stretches of New York City is being prepared for commercial activity.

The Wall Street Journal reports that Governors Island, a 173-acre island off the tip of Manhattan, is the focus of a new request for proposals. The nonprofit Trust for Governors Island is asking educational institutions, hotels, businesses, retailers and arts groups for plans to revitalize the 40 historic buildings on the island, including a 700-seat theater and a 400,000-square-foot barracks building that was used when the island was a military base.

New York Mayor Michael Bloomberg issued a statement calling Governors Island ‘the centerpiece’ of the ‘transformation of the city's waterfront.’ The federal government, which turned over most of the island to the city and state, has prevented plans for a casino development, but has provided permission for the creation of other commercial venues.

Photo: Arturo Ramos

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