[NYguy]

More info from the City's press release...


http://www.nyc.gov/portal/site/nycgo...&rc=1194&ndi=1

The New York Wheel is expected be open 7 days a week, 365 days per year (except on severe weather days and required maintenance days) from roughly 10 AM to 10 PM in the fall, winter and spring. Rides will last roughly 38 minutes. In the summer, and on special occasions, the Wheel will stay open for longer hours. Construction is expected to begin in early 2014, with the goal of hosting a grand opening by the end of 2015. The Wheel’s designer and manufacturer will be Starneth, comprised of members of the team that built the London Eye.

At the base of the Wheel will sit a 100,000-square-foot terminal building, which will include various commercial uses, such as retail, restaurant, and theater space, as well as exhibitions about New York City history, alternative energy and environmental sustainability.

Construction plans for the Wheel and terminal building will strive for Platinum LEED certification, the highest rating of sustainable building. It expects to be powered predominantly by clean energy. A 950-space structured parking garage will also be built on the site, featuring a green roof with open space, solar panels and planted gardens. New York Wheel LLC will invest approximately $250 million to complete the project, which will create an anticipated 419 construction jobs and 426 permanent jobs.

At the southern site, BFC Partners’ Harbor Commons will be an up-to 350,000 square foot retail complex, comprised of approximately 100 designer outlet retailers, along with a gourmet dining destination with a variety of restaurants and cafes. . Plans also include a 200-room, 120,000-square-foot hotel, with a 15,000-square-foot banquet facility that will provide extraordinary views of the Manhattan skyline.

BFC Partners will also build a 1,250-space structured parking garage below the retail and hotel components to accommodate commuters and tourists alike. Construction is expected to begin in the winter of 2014 and be completed in 2016. Designed by SHoP Architects, Harbor Commons will feature expansive open corridors to the water, contemporary materials reflective of the industrial waterfront, and a sweeping sustainable green roof visible from the Harbor. Celebratory vertical circulation elements such as grand staircases, glass elevators, and streamlined escalators will guide shoppers as they move from the waterfront up to Richmond Terrace, creating a dynamic and easily navigated pedestrian experience.

Both New York Wheel and BFC Partners will enter into 99-year leases. Combined the two parties will pay $2.5 million per year in rent to the City, with additional participation rents once certain ridership and gross revenue milestones are reached. The developers will also contribute $300,000 per year in contributions to area-wide maintenance, such as upkeep to the waterfront esplanade.

Photos from the press conference...

nycmayorsoffice