[Arthururban]

http://www.crainsnewyork.com/article...r-the-creative

P.C. Richard store by Union Square will be replaced by a center for the creative

The electronics store will be powered down by the Economic Development Corp. to make way for a new venture.

The P.C. Richard & Son store near Union Square is going the way of the cathode ray television set and VCRs.

On Thursday, the city's Economic Development Corp. announced a request for proposals to redevelop a city-owned site at 124 E. 14th St. that for the past 19 years has been home to a two-level building occupied by the electronics and appliance store.

The EDC is encouraging developers to pitch projects that include new office space for booming industries in the neighborhood, such as technology and creative businesses. According to the city's guidelines, the development could provide fledgling companies with the space to get started and also a location for young but established firms to transition from incubator and co-working spaces that have sprouted around the city into their own digs.

Proposals may also include residential space, although a spokesman for the city said the EDC's goal is an office-focused development. Current zoning on the site, however, would seem to encourage a residential component. About 140,000 square feet of housing can be built at the address versus about 93,00 square feet of commercial space. A project could be a blend of the two.

.....Bids for the property are due by February, the spokesman said, which is the same month that P.C. Richard's lease is set to expire.