With $1.4 billion in annual support from the National Institutes of Health and a near-unrivaled concentration of academic, medical and research foundations, New York is well positioned to translate the inquiries and experiments of its libraries and laboratories into serviceable medical innovations. And it will become—in theory— better-positioned still with the addition of two newly-announced initiatives: the City of New York Early-Stage Life Sciences Funding Initiative and the Mt. Sinai Institute of Technology (MSIT).
Sodom by the Sea
The waning months of Mayor Bloomberg’s reign are expected to be marked by a series of high-powered departures, as one official after another jumps ship before the mayor leaves office. The latest is Bloomberg stalwart and Dan Doctoroff protégée Seth Pinsky, who is stepping down from the Economic Development Corporation to take a private sector gig with RXR Realty, as the agency announced today. Kyle Kimball, who is currently the agency’s executive director, will succeed him.
Called “the People’s Playground,” Coney Island is perhaps the most popular piece of New York City’s entertainment puzzle, Times Square and the Bowery having been thoroughly scrubbed of any excitement the past few decades. Chic and refined it’s not—at least not yet—but in terms of crowds, ice cream cones, corn dogs and cheap(ish) amusements, this corner of the city is the one calling.
The season may be over, but the enthusiams persists.
Today, the city’s Economic Development Corporation announced an RFP seeking the development and operation of new amusement rides, game booths and other entertainment attractions at a vacant site at the heart of the Coney’s amusement hub.
alley vs. valley
Imagine, if you will, the landscape of New York City 15 years hence. A drive to Citi Field in Willets Point takes you past a pleasant if overpriced cluster of residential buildings, rather than seedy chop-shops. Roosevelt Island is home to a sprawling $2 billion applied-sciences campus spinning out an army of developers to populate ping-pong-table-clad start-up clusters from Dumbo to Union Square. On Manhattan’s far West Side, the rezoned stretch of Hudson Yards offers millions of square feet for office space, housing and retail and 14 acres of open public space. You can already see traces of a more built-up, scrubbed-down New York in Luna Park’s freshly-painted Scream Zone, the first new roller-coasters Coney Island has seen in 80 years, and the rapidly-metastasizing arena at Atlantic Yards, which will soon play home court to the rebranded Brooklyn Nets.
It’s hardly a scenario Seth Pinsky could have imagined in September 2008, when Lehman Brothers collapsed just seven months into his tenure as president of the New York City Economic Development Corporation (EDC), a not-for-profit arm of the Mayor’s office charged with fostering economic growth across the five boroughs.
At the time, Mr. Pinsky was a 36-year-old former lawyer and investment analyst, only a few years removed from a private sector gig refinancing real estate deals for the big banks as an associate at Cleary Gottlieb. He had one big win under his belt—jump-starting the World Trade Center redevelopment project—but he didn’t have “a political bone in his body,” as one insider put it. “People kept saying to me, ‘Wow, you’re the head of the Economic Development Corporation? We’re in an economic meltdown!’’ Mr. Pinsky told The Observer.
“At the time it meant, ‘You must be really crazy.’”
Mayor Michael Bloomberg’s latest scheme to foster tech talent in New York City called for a world-class university to establish a significant presence here, and he’s gotten a few nibbles. One is from a big fish: Stanford University is seriously considering a research and engineering campus in New York and announced some specifics Read More