Quote:
Originally Posted by Crawford
Block 807 is 11 Penn Plaza, which is a really nice office building with Apple as prime tenant. I imagine it would be one of the last blocks in that district to be redeveloped.
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There is also new construction at the other end of the block, and relatively new construction midblock. In fact, while some people were calling for more residential development on the sites, there has already been a lot of resi development in the area.
Quote:
Originally Posted by Manitopiaaa
Block 806 is the one that pains me. Those buildings should absolutely not be demolished.
I'm already at peace with Hotel Penn going down (though I still think it should have been renovated), but not 806. I'd rather lose all of 754 than 806.
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Block 754 is actually a nice residential block, which is rare considering it's proximity to everything else.
Quote:
Originally Posted by mrnyc
so where do they start?
is this about right?
that basically sites 1-3 will happen together depending on gateway news, but sites 4-8 could be redeveloped individually at any time?
that is, are 4-8 just id'd for upzoning, or do they need to do penn work underneath those sites first as well?
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Gateway is considered a separate project from this one. Though the two will work together, this is primarily the commercial redevelopment of the area, which in turn pays for the expanded station and improvements to the existing station.
The expansion of Penn south will be on sites (1-3). That's estimated to be complete within 8 years and operational. The timeframe for the towers on those sites will be up to whichever developer is selected to build them. Vornado controls the northern sites, and has previously stated that 15 Penn would be the next order of business following work on 1 and 2 Penn Plaza. But that could all change once the redevelopment plan is officially in place. I wouldn't mind seeing 5 and 6 get built soon.
Sites 7 (15 Penn) and 8 would have almost indentical programming, with equal amounts of office and retail, with nearly a half million sf of retail between them. I would like to see a nice winter garden between the two towers there.
A little more reading on how it all ties in...