Rudins Making More St. Vincent’s Concession, Maybe Even an AIDS Park

Section 8 it ain't. (FXFowle)

Bill Rudin must be wondering if it was worth it in the end.

Given the price of prime Manhattan real estate, the answer is almost definitely yes, but that does not change the fact that the redevelopment of the St. Vincent’s hospital into condos in the heart of Greenwich Village has been a long and expensive enterprise. Lawsuits, landmarks reviews, a recession, demands for a new school: the Rudins have overcome them all. Now, it appears, the city wants more.

According to Crain’s, Council Speaker Christine Quinn, the local representative for the Village, is poised to extract yet more concessions from Rudin Management to redevelop the hospital. The developer will give more money for local schools, and a compromise appears to be in the works over what to do with a triangle of land currently planned as a community park. A counter-proposal for an AIDS Memorial has been made, though Mr. Rudin did not appear eager to embrace it, as it could require new approvals.

One thing not on the table is affordable housing, perhaps the greatest concern in the ever-more-expensive Village. That would be a truly costly concession, and after all this time and money, one he would probably not like to make.

mchaban [at] | @MC_NYC