<?xml version="1.0" encoding="UTF-8"?><?xml-stylesheet type="text/css" media="screen" href="http://s2.wp.com/wp-content/themes/vip/newyorkobserver/stylesheets/rss.css"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" xmlns:media="http://search.yahoo.com/mrss/"
	>

<channel>
	<title>Observer &#187; Pier 1</title>
	<atom:link href="http://observer.com/term/pier-1/feed/" rel="self" type="application/rss+xml" />
	<link>http://observer.com</link>
	<description></description>
	<lastBuildDate>Wed, 22 May 2013 06:55:07 +0000</lastBuildDate>
	<language></language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.com/</generator>
<cloud domain='observer.com' port='80' path='/?rsscloud=notify' registerProcedure='' protocol='http-post' />
<image>
		<url>http://1.gravatar.com/blavatar/dac0f3722a48a53be75eb06c0c4f5119?s=96&#038;d=http%3A%2F%2Fs2.wp.com%2Fi%2Fbuttonw-com.png</url>
		<title>Observer &#187; Pier 1</title>
		<link>http://observer.com</link>
	</image>
	<atom:link rel="search" type="application/opensearchdescription+xml" href="http://observer.com/osd.xml" title="Observer" />
	<atom:link rel='hub' href='http://observer.com/?pushpress=hub'/>
		<item>
				
		<title>Anchormen: A New Hotel and Other Developments as Brooklyn Bridge Park&#8217;s Pier 1 Approved</title>

		<comments>http://observer.com/2012/06/anchormen-a-new-hotel-and-other-developments-as-brooklyn-bridge-parks-pier-1-approved/#comments</comments>
		<pubDate>Tue, 19 Jun 2012 17:05:20 -0400</pubDate>
					<link>http://observer.com/2012/06/anchormen-a-new-hotel-and-other-developments-as-brooklyn-bridge-parks-pier-1-approved/</link>
			<dc:creator>Matt Chaban</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=247090</guid>
		<description><![CDATA[<p><a href="http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/">As expected</a>, a team of Toll Brothers and Starwood Capital won <a href="http://observer.com/2012/03/vacancies-at-brooklyn-bridge-park-hotel-requirment-sinks-developers/">the right to develop Pier 1 at Brooklyn Bridge Park</a> today. They will be building a new hotel of 200 rooms and a neighboring apartment building with 159 units, a complex that peaks near Fulton Street entrance and sloping down toward the park. The project is designed by Rogers Marvel Architects, whom Toll has initially tapped, with Dumbo-based Bernheimer Architects apparently getting the boot. There will be no mash-up on the shore here.<!--more--></p>
<p>Rogers Marvel has slightly updated their design from what they originally unveiled on Toll's behalf in November, but the changes are mostly in the detailing of the building, not its composition. Today's deal does bring with it more details of what is planned, however. The 1 Hotel will rise to 10 stories, stepping down into the five-story apartment building. Additionally, there will be 16,000 square-feet of restaurant space in the complex and the same amount of banquet space, as well as 2,000 square feet of retail, a 6,000 square foot fitness center and 300 parking spaces.</p>
<p>A day after <a href="http://observer.com/2012/06/bye-bye-benepe-parks-commissioner-bows-out/">master parks privateer Adrian Benepe has stepped down</a> from running Parks Department, it's revealed that the Pier 1 development will generate nearly $120 million over the course of a 97 year lease, in $3.3 million chunks. On the one hand, the park could not be maintained without this money, on the other, that is a lot more park land that could have been created if these buildings were not being built on them.</p>
]]></description>
		<content:encoded><![CDATA[<p><a href="http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/">As expected</a>, a team of Toll Brothers and Starwood Capital won <a href="http://observer.com/2012/03/vacancies-at-brooklyn-bridge-park-hotel-requirment-sinks-developers/">the right to develop Pier 1 at Brooklyn Bridge Park</a> today. They will be building a new hotel of 200 rooms and a neighboring apartment building with 159 units, a complex that peaks near Fulton Street entrance and sloping down toward the park. The project is designed by Rogers Marvel Architects, whom Toll has initially tapped, with Dumbo-based Bernheimer Architects apparently getting the boot. There will be no mash-up on the shore here.<!--more--></p>
<p>Rogers Marvel has slightly updated their design from what they originally unveiled on Toll's behalf in November, but the changes are mostly in the detailing of the building, not its composition. Today's deal does bring with it more details of what is planned, however. The 1 Hotel will rise to 10 stories, stepping down into the five-story apartment building. Additionally, there will be 16,000 square-feet of restaurant space in the complex and the same amount of banquet space, as well as 2,000 square feet of retail, a 6,000 square foot fitness center and 300 parking spaces.</p>
<p>A day after <a href="http://observer.com/2012/06/bye-bye-benepe-parks-commissioner-bows-out/">master parks privateer Adrian Benepe has stepped down</a> from running Parks Department, it's revealed that the Pier 1 development will generate nearly $120 million over the course of a 97 year lease, in $3.3 million chunks. On the one hand, the park could not be maintained without this money, on the other, that is a lot more park land that could have been created if these buildings were not being built on them.</p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2012/06/anchormen-a-new-hotel-and-other-developments-as-brooklyn-bridge-parks-pier-1-approved/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://2.gravatar.com/avatar/be8fb62d88bc48f517bbcc9c9f2750dc?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">mchabanobserver</media:title>
		</media:content>
	</item>
		<item>
				
		<title>Brooklyn Bridge Mash-up: Toll and Starwood Could Team Up for Pier 1 Development</title>

		<comments>http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 14:36:15 -0400</pubDate>
					<link>http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/</link>
			<dc:creator>Matt Chaban</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=246445</guid>
		<description><![CDATA[<p><div id="attachment_246488" class="wp-caption alignleft" style="width: 610px"><a href="http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/picture-17-7/" rel="attachment wp-att-246488"><img class="size-large wp-image-246488" title="Picture 17" src="http://nyoobserver.files.wordpress.com/2012/06/picture-17.png?w=600" alt="" width="600" height="227" /></a><p class="wp-caption-text">Toll and Starwood—can their architects share the site? (BBP)</p></div></p>
<p>And then there were two, who might become one.</p>
<p>Next Tuesday, Brooklyn Bridge Park will decide on which of <a href="http://observer.com/2012/03/vacancies-at-brooklyn-bridge-park-hotel-requirment-sinks-developers/">the three teams still vying for the Pier 1 development</a> gets the right to <a href="http://www.observer.com/2011/11/brooklyn-bridge-park-gets-its-starchitecture/">turn the old dockland into hundreds of luxury apartments and hotel rooms</a>. It appears there could be a partnership between two of the three of them to see the project through.<!--more--></p>
<p>According to <em>Crain's</em>, <a href="http://www.crainsnewyork.com/article/20120614/REAL_ESTATE/120619938">Toll Brothers and Starwood Capital are trying to bring their Pier 1 developments together</a>, though it is not clear how the two architectural schemes they have devised, by Rogers Marvel and a consortium of Bernheimer Architecture, Alloy Development and nArchitects might mesh their work.</p>
<blockquote><p>In November, the Brooklyn Bridge Corp. released renderings and site plans for the seven proposals that were submitted ahead of the Oct. 24 deadline. Toll Brother's hotel partner was Hampshire Hotels and Resorts, which is behind the Dream Hotel brand in Manhattan. Starwood Capital, whose hotels include the St. Regis in Manhattan, teamed up with Alloy Development. Each group also has its own design team and architect. Toll has Rogers Marvel and Starwood has Bernheimer Architects and n Architects. It could not be determined what design was selected.</p></blockquote>
<p>Dermot Company, who was working with FXFowle as its architect and a proposal to include a home for the St. Anne's Warehouse theater,  may be on the outside looking in, but <em>Crain's</em>, as well as The Times, both note that <a href="http://www.nytimes.com/2012/06/15/nyregion/brooklyn-bridge-park-expected-to-announce-developers-of-a-new-hotel-complex.html?partner=rss&amp;emc=rss">no final deal has yet been reached</a>.</p>
<p>These were three of the most architecturally ambitious projects, so to see two of them joining forces is intriguing. Should they make the decision, too rare in New York City megadevelopment, to combine their efforts into a more varied whole, the project will be that much better off for it.</p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_246488" class="wp-caption alignleft" style="width: 610px"><a href="http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/picture-17-7/" rel="attachment wp-att-246488"><img class="size-large wp-image-246488" title="Picture 17" src="http://nyoobserver.files.wordpress.com/2012/06/picture-17.png?w=600" alt="" width="600" height="227" /></a><p class="wp-caption-text">Toll and Starwood—can their architects share the site? (BBP)</p></div></p>
<p>And then there were two, who might become one.</p>
<p>Next Tuesday, Brooklyn Bridge Park will decide on which of <a href="http://observer.com/2012/03/vacancies-at-brooklyn-bridge-park-hotel-requirment-sinks-developers/">the three teams still vying for the Pier 1 development</a> gets the right to <a href="http://www.observer.com/2011/11/brooklyn-bridge-park-gets-its-starchitecture/">turn the old dockland into hundreds of luxury apartments and hotel rooms</a>. It appears there could be a partnership between two of the three of them to see the project through.<!--more--></p>
<p>According to <em>Crain's</em>, <a href="http://www.crainsnewyork.com/article/20120614/REAL_ESTATE/120619938">Toll Brothers and Starwood Capital are trying to bring their Pier 1 developments together</a>, though it is not clear how the two architectural schemes they have devised, by Rogers Marvel and a consortium of Bernheimer Architecture, Alloy Development and nArchitects might mesh their work.</p>
<blockquote><p>In November, the Brooklyn Bridge Corp. released renderings and site plans for the seven proposals that were submitted ahead of the Oct. 24 deadline. Toll Brother's hotel partner was Hampshire Hotels and Resorts, which is behind the Dream Hotel brand in Manhattan. Starwood Capital, whose hotels include the St. Regis in Manhattan, teamed up with Alloy Development. Each group also has its own design team and architect. Toll has Rogers Marvel and Starwood has Bernheimer Architects and n Architects. It could not be determined what design was selected.</p></blockquote>
<p>Dermot Company, who was working with FXFowle as its architect and a proposal to include a home for the St. Anne's Warehouse theater,  may be on the outside looking in, but <em>Crain's</em>, as well as The Times, both note that <a href="http://www.nytimes.com/2012/06/15/nyregion/brooklyn-bridge-park-expected-to-announce-developers-of-a-new-hotel-complex.html?partner=rss&amp;emc=rss">no final deal has yet been reached</a>.</p>
<p>These were three of the most architecturally ambitious projects, so to see two of them joining forces is intriguing. Should they make the decision, too rare in New York City megadevelopment, to combine their efforts into a more varied whole, the project will be that much better off for it.</p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2012/06/brooklyn-bridge-mash-up-toll-and-starwood-could-team-up-for-pier-1-development/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://2.gravatar.com/avatar/be8fb62d88bc48f517bbcc9c9f2750dc?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">mchabanobserver</media:title>
		</media:content>

		<media:content url="http://nyoobserver.files.wordpress.com/2012/06/picture-17.png?w=600" medium="image">
			<media:title type="html">Picture 17</media:title>
		</media:content>
	</item>
		<item>
				
		<title>Related, Two Trees, Andre Balazs, FXFowle Among Firms Flooding Brooklyn Bridge Park Pier 1</title>

		<comments>http://observer.com/2011/08/related-two-trees-andre-balazs-fxfowle-among-firms-flooding-brooklyn-bridge-park-pier-1/#comments</comments>
		<pubDate>Fri, 19 Aug 2011 12:57:37 -0400</pubDate>
					<link>http://observer.com/2011/08/related-two-trees-andre-balazs-fxfowle-among-firms-flooding-brooklyn-bridge-park-pier-1/</link>
			<dc:creator>Matt Chaban</dc:creator>
				
		<guid isPermaLink="false">http://www.observer.com/?p=177773</guid>
		<description><![CDATA[<p><div id="attachment_177814" class="wp-caption alignleft" style="width: 310px"><a href="http://nyoobserver.files.wordpress.com/2011/08/brooklyn_bridge_park_pier1.jpg"><img class="size-medium wp-image-177814" title="NYC Bonds Draw &quot;Strong Demand&quot; Abroad As Yield Exceeds Spain's Left" src="http://nyoobserver.files.wordpress.com/2011/08/brooklyn_bridge_park_pier1.jpg?w=300&h=187" alt="" width="300" height="187" /></a><p class="wp-caption-text">Those&#039;ll be some views. (Getty)</p></div></p>
<p>Even if <a href="http://www.observer.com/2011/08/here-comes-the-double-dip-architecture-billings-fall-for-fifth-straight-month/">the city could be headed for further construction slowdowns</a>, developers are still readying themselves for the (eventual?) recovery. <a href="http://www.observer.com/2011/08/jean-nouvel-moma-tower-new-drawings-shorter/">The MoMA Tower</a>, <a href="http://www.observer.com/2011/07/scaling-the-towers-of-hudson-yards/">Hudson Yards</a>, <a href="http://www.observer.com/2010/real-estate/quiet-one-construction-side?utm_medium=partial-text&amp;utm_campaign=real-estate">East Coast Number 4</a>—all are showing signs of life. And they all have something in common, as well: their developers have their sights set on the first site at Brooklyn Bridge Park.<!--more--></p>
<p>Things were very, busy at the libertarian park two weeks ago. The city reached a new development deal with the state on <a href="http://www.observer.com/2011/08/god-willing-brooklyn-bridge-park-will-have-less-condos/">what exactly can be built at Brooklyn Bridge Park</a> to help fund its maintenance. Then, two days later, <a href="http://www.observer.com/2011/08/here-come-the-brooklyn-bridge-park-condos/">the city released an RFP seeking developers for Pier 1</a>, the first site at the park to be redeveloped.</p>
<p>The RFP calls for two new buildings housing a hotel and condos, with either 170 hotel rooms and 180  condo units, 225 rooms and 150 units, or some mix thereof. If there was any notion Brooklyn is still somehow a backwater, the high-profile firms vying for these two sites should dispel that idea right about... now. According to a source present at an information session held yesterday by the city, among the developers and architects present were:</p>
<ul>
<li>Related Companies (Hudson Yards, Time Warner Center)</li>
<li>Hines (MoMA Tower, Bryant Park tower)</li>
<li>Two Trees (Pretty much all of Dumbo, Mercedes House)</li>
<li>Andre Balazs (Fabulous!)</li>
<li>Douglaston Development (The Edge)</li>
<li>Rockrose (Lots of Queens West, 200 Water Street)</li>
<li>TF Cornerstone (Lots of Queens West, 505W37)</li>
<li>Starwood Capital (Westin, W hotels)</li>
<li>The Dermot Company (One Hanson, Battery Maritime Building)</li>
<li>Muss Development (Two Brooklyn Marriotts, Sky View Parc)</li>
<li>TEN Architectos (One York, Hotel Americano)</li>
<li>FXFowle (FXFowle, Northside Piers)</li>
<li>Rogers Marvel (Gowanus Green, State Street townhouses)</li>
<li>Architetonica (MiMA, Westin Times Square)</li>
<li>Artimus (Lots of Harlem: 5th on Park, SoHa)</li>
</ul>
<p>What's interesting about this list is, based on past history, some obvious teams seems to be emerging. <a href="http://www.observer.com/2011/06/nick-cannon-and-jed-walentas-put-an-end-to-the-recession/">Two Trees worked with TEN on Mercedes House</a>, and this won't be their first hospitality venture—<a href="http://www.observer.com/2010/real-estate/jed-walentas-gets-his-williamsburg-welfare-swanky-hotel">the Walentases are building a hotel in Williamsburg</a> with architect Morris Adjmi. Architectonica has plenty of hospitality experience, building the Westin for Starwood and Related's <a href="http://www.observer.com/2011/real-estate/r2d2-and-robocop-turned-down-bellhops-new-yotel-video">MiMa, home of the robotic Yotel</a>. Dermot has worked with both Rogers Marvel and FXFowle.</p>
<p>The final pairings might look nothing like this, but it presents some interesting options, especially because it would mean a new level of quality on the eastern shore of the East River—with the possible exception of the New Domino, designs for most of the glassy riverside towers in Queens and Brooklyn have been so-so. And there is another point of note: Pretty much all the developers on this list have built major luxury projects on said waterfront, whether at Queens West, Hunter's Point South (Related is doing the first phase) or Williamsburg.</p>
<p>So no slouches here, and for good reason. According to our source, "The site is awesome."</p>
<p>And there may be room for more parkland, too. <em>The Journal</em> reported yesterday that <a href="http://online.wsj.com/article/SB10001424053111903639404576514794251980256.html?mod=googlenews_wsj">the city was in negotiations with ConEd to buy a transformer site in Vinegar Hill</a>, which interrupts the waterfront promenade. The Bloomberg administration envisions a near-contiguous park stretching the length of the East River,  replacing former factories with miles and miles of public space stretching from Astoria to Sunset Park.</p>
<p><em>mchaban@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_177814" class="wp-caption alignleft" style="width: 310px"><a href="http://nyoobserver.files.wordpress.com/2011/08/brooklyn_bridge_park_pier1.jpg"><img class="size-medium wp-image-177814" title="NYC Bonds Draw &quot;Strong Demand&quot; Abroad As Yield Exceeds Spain's Left" src="http://nyoobserver.files.wordpress.com/2011/08/brooklyn_bridge_park_pier1.jpg?w=300&h=187" alt="" width="300" height="187" /></a><p class="wp-caption-text">Those&#039;ll be some views. (Getty)</p></div></p>
<p>Even if <a href="http://www.observer.com/2011/08/here-comes-the-double-dip-architecture-billings-fall-for-fifth-straight-month/">the city could be headed for further construction slowdowns</a>, developers are still readying themselves for the (eventual?) recovery. <a href="http://www.observer.com/2011/08/jean-nouvel-moma-tower-new-drawings-shorter/">The MoMA Tower</a>, <a href="http://www.observer.com/2011/07/scaling-the-towers-of-hudson-yards/">Hudson Yards</a>, <a href="http://www.observer.com/2010/real-estate/quiet-one-construction-side?utm_medium=partial-text&amp;utm_campaign=real-estate">East Coast Number 4</a>—all are showing signs of life. And they all have something in common, as well: their developers have their sights set on the first site at Brooklyn Bridge Park.<!--more--></p>
<p>Things were very, busy at the libertarian park two weeks ago. The city reached a new development deal with the state on <a href="http://www.observer.com/2011/08/god-willing-brooklyn-bridge-park-will-have-less-condos/">what exactly can be built at Brooklyn Bridge Park</a> to help fund its maintenance. Then, two days later, <a href="http://www.observer.com/2011/08/here-come-the-brooklyn-bridge-park-condos/">the city released an RFP seeking developers for Pier 1</a>, the first site at the park to be redeveloped.</p>
<p>The RFP calls for two new buildings housing a hotel and condos, with either 170 hotel rooms and 180  condo units, 225 rooms and 150 units, or some mix thereof. If there was any notion Brooklyn is still somehow a backwater, the high-profile firms vying for these two sites should dispel that idea right about... now. According to a source present at an information session held yesterday by the city, among the developers and architects present were:</p>
<ul>
<li>Related Companies (Hudson Yards, Time Warner Center)</li>
<li>Hines (MoMA Tower, Bryant Park tower)</li>
<li>Two Trees (Pretty much all of Dumbo, Mercedes House)</li>
<li>Andre Balazs (Fabulous!)</li>
<li>Douglaston Development (The Edge)</li>
<li>Rockrose (Lots of Queens West, 200 Water Street)</li>
<li>TF Cornerstone (Lots of Queens West, 505W37)</li>
<li>Starwood Capital (Westin, W hotels)</li>
<li>The Dermot Company (One Hanson, Battery Maritime Building)</li>
<li>Muss Development (Two Brooklyn Marriotts, Sky View Parc)</li>
<li>TEN Architectos (One York, Hotel Americano)</li>
<li>FXFowle (FXFowle, Northside Piers)</li>
<li>Rogers Marvel (Gowanus Green, State Street townhouses)</li>
<li>Architetonica (MiMA, Westin Times Square)</li>
<li>Artimus (Lots of Harlem: 5th on Park, SoHa)</li>
</ul>
<p>What's interesting about this list is, based on past history, some obvious teams seems to be emerging. <a href="http://www.observer.com/2011/06/nick-cannon-and-jed-walentas-put-an-end-to-the-recession/">Two Trees worked with TEN on Mercedes House</a>, and this won't be their first hospitality venture—<a href="http://www.observer.com/2010/real-estate/jed-walentas-gets-his-williamsburg-welfare-swanky-hotel">the Walentases are building a hotel in Williamsburg</a> with architect Morris Adjmi. Architectonica has plenty of hospitality experience, building the Westin for Starwood and Related's <a href="http://www.observer.com/2011/real-estate/r2d2-and-robocop-turned-down-bellhops-new-yotel-video">MiMa, home of the robotic Yotel</a>. Dermot has worked with both Rogers Marvel and FXFowle.</p>
<p>The final pairings might look nothing like this, but it presents some interesting options, especially because it would mean a new level of quality on the eastern shore of the East River—with the possible exception of the New Domino, designs for most of the glassy riverside towers in Queens and Brooklyn have been so-so. And there is another point of note: Pretty much all the developers on this list have built major luxury projects on said waterfront, whether at Queens West, Hunter's Point South (Related is doing the first phase) or Williamsburg.</p>
<p>So no slouches here, and for good reason. According to our source, "The site is awesome."</p>
<p>And there may be room for more parkland, too. <em>The Journal</em> reported yesterday that <a href="http://online.wsj.com/article/SB10001424053111903639404576514794251980256.html?mod=googlenews_wsj">the city was in negotiations with ConEd to buy a transformer site in Vinegar Hill</a>, which interrupts the waterfront promenade. The Bloomberg administration envisions a near-contiguous park stretching the length of the East River,  replacing former factories with miles and miles of public space stretching from Astoria to Sunset Park.</p>
<p><em>mchaban@observer.com</em></p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2011/08/related-two-trees-andre-balazs-fxfowle-among-firms-flooding-brooklyn-bridge-park-pier-1/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://2.gravatar.com/avatar/becf95fa833b8aeb13f7720732bd6dc6?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">jhanasobserver</media:title>
		</media:content>

		<media:content url="http://nyoobserver.files.wordpress.com/2011/08/brooklyn_bridge_park_pier1.jpg?w=300&#38;h=187" medium="image">
			<media:title type="html">NYC Bonds Draw &#34;Strong Demand&#34; Abroad As Yield Exceeds Spain&#039;s Left</media:title>
		</media:content>
	</item>
		<item>
				
		<title>Here Come the Brooklyn Bridge Park Condos [Video]</title>

		<comments>http://observer.com/2011/08/here-come-the-brooklyn-bridge-park-condos/#comments</comments>
		<pubDate>Thu, 04 Aug 2011 21:04:18 -0400</pubDate>
					<link>http://observer.com/2011/08/here-come-the-brooklyn-bridge-park-condos/</link>
			<dc:creator>Matt Chaban</dc:creator>
				
		<guid isPermaLink="false">http://www.observer.com/?p=173938</guid>
		<description><![CDATA[<p><div id="attachment_173940" class="wp-caption alignleft" style="width: 310px"><a href="http://nyoobserver.files.wordpress.com/2011/08/bbp_pier1.png"><img class="size-medium wp-image-173940" title="BBP_Pier1" src="http://nyoobserver.files.wordpress.com/2011/08/bbp_pier1.png?w=300&h=131" alt="" width="300" height="131" /></a><p class="wp-caption-text">Bridging the public and private. (BBP)</p></div></p>
<p>Just yesterday, <em>The Observer </em>reported that<a href="http://www.observer.com/2011/08/on-second-thought-still-plenty-of-condos-at-bbp-some-coming-soon/"> a request for proposals for a third development site at Brooklyn Bridge Park</a>, which was not part of <a href="http://www.observer.com/2011/08/god-willing-brooklyn-bridge-park-will-have-less-condos/">a deal announced the day before</a> to reduce the amount of development in the park, was expected "shortly." Turns out shortly meant one day.<!--more--></p>
<p>The city-run Brooklyn Bridge Park Corporation is now <a href="http://www.brooklynbridgeparknyc.org/about-us/business-opportunities/pier-1-hotel-residential-development">seeking developers for two parcels adjacent to Pier 1</a>, one rising to 100 feet and covering 65,000 square feet and the other 45 feet and 35,000 square feet. These two will house a combination of 225 hotel rooms and 150 apartments or 175 hotel rooms and 180 apartments. The project will be built by the same developer, along with inducements for ground-floor dining along with parking, restrooms and support facilities for the park.</p>
<p>"The hotel and residential component represent a critical element of our park maintenance plan and the development’s amenities will benefit all park users for decades to come,” BBP president Regina Myer said in a release.</p>
<p>Payments in lou of taxes, or PILOTs, from the two parcels are expected to fund a portion of the park's maintenance. Already One Brooklyn Bridge Park, the hulking converted warehouse on the park's southern under, has contributed a few million dollars to the fund since 2006. Construction costs are still coming from the city, which in part of Tuesday's deal pledged $55 million to begin work on Pier 2. Responses are due October 24.</p>
<p>It is not surprising that Pier 1 is the first ground-up site to be developed. The Empire Stores was to have been converted years ago, but stability, preservation and disagreements over its commercialization held that up. Meanwhile, <a href="http://www.observer.com/2010/real-estate/brooklyn-bridge-park-opens-plans-housing-park-are-flux">Pier 1 opened last year</a>, providing developers the best front yard possible, so to speak. The other sites, at Atlantic and John streets are next to plots still under development.</p>
<p>For those who feel that <a href="http://www.observer.com/2010/real-estate/brooklyn-willoughby-square-latest-libertarian-park">private property built on public parkland is a problem</a>, the city has gone ahead and transformed Brooklyn Bridge Park from boring old public space into a full-on brand, as evinced in this video that accompanies the RFP. Wedged between America's Oldest Suburb and <a href="http://www.observer.com/2011/real-estate/strolling-silicon-beach">Silicon Beach</a>, this fits nicely with<a href="http://www.observer.com/2011/07/brooklandia-the-portlandification-of-the-better-borough/"> the borough that has become a way of life</a>.</p>
<p><embed src="http://blip.tv/play/hYh%2Bgsv3aQI" type="application/x-shockwave-flash" width="620" height="387" wmode="transparent" allowscriptaccess="always" allowfullscreen="true" ></embed></p>
<p><strong><a href="mailto:mchaban@observer.com">mchaban [at] observer.com</a></strong> |<strong> <a href="http://twitter.com/MC_NYC">@MC_NYC</a></strong></p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_173940" class="wp-caption alignleft" style="width: 310px"><a href="http://nyoobserver.files.wordpress.com/2011/08/bbp_pier1.png"><img class="size-medium wp-image-173940" title="BBP_Pier1" src="http://nyoobserver.files.wordpress.com/2011/08/bbp_pier1.png?w=300&h=131" alt="" width="300" height="131" /></a><p class="wp-caption-text">Bridging the public and private. (BBP)</p></div></p>
<p>Just yesterday, <em>The Observer </em>reported that<a href="http://www.observer.com/2011/08/on-second-thought-still-plenty-of-condos-at-bbp-some-coming-soon/"> a request for proposals for a third development site at Brooklyn Bridge Park</a>, which was not part of <a href="http://www.observer.com/2011/08/god-willing-brooklyn-bridge-park-will-have-less-condos/">a deal announced the day before</a> to reduce the amount of development in the park, was expected "shortly." Turns out shortly meant one day.<!--more--></p>
<p>The city-run Brooklyn Bridge Park Corporation is now <a href="http://www.brooklynbridgeparknyc.org/about-us/business-opportunities/pier-1-hotel-residential-development">seeking developers for two parcels adjacent to Pier 1</a>, one rising to 100 feet and covering 65,000 square feet and the other 45 feet and 35,000 square feet. These two will house a combination of 225 hotel rooms and 150 apartments or 175 hotel rooms and 180 apartments. The project will be built by the same developer, along with inducements for ground-floor dining along with parking, restrooms and support facilities for the park.</p>
<p>"The hotel and residential component represent a critical element of our park maintenance plan and the development’s amenities will benefit all park users for decades to come,” BBP president Regina Myer said in a release.</p>
<p>Payments in lou of taxes, or PILOTs, from the two parcels are expected to fund a portion of the park's maintenance. Already One Brooklyn Bridge Park, the hulking converted warehouse on the park's southern under, has contributed a few million dollars to the fund since 2006. Construction costs are still coming from the city, which in part of Tuesday's deal pledged $55 million to begin work on Pier 2. Responses are due October 24.</p>
<p>It is not surprising that Pier 1 is the first ground-up site to be developed. The Empire Stores was to have been converted years ago, but stability, preservation and disagreements over its commercialization held that up. Meanwhile, <a href="http://www.observer.com/2010/real-estate/brooklyn-bridge-park-opens-plans-housing-park-are-flux">Pier 1 opened last year</a>, providing developers the best front yard possible, so to speak. The other sites, at Atlantic and John streets are next to plots still under development.</p>
<p>For those who feel that <a href="http://www.observer.com/2010/real-estate/brooklyn-willoughby-square-latest-libertarian-park">private property built on public parkland is a problem</a>, the city has gone ahead and transformed Brooklyn Bridge Park from boring old public space into a full-on brand, as evinced in this video that accompanies the RFP. Wedged between America's Oldest Suburb and <a href="http://www.observer.com/2011/real-estate/strolling-silicon-beach">Silicon Beach</a>, this fits nicely with<a href="http://www.observer.com/2011/07/brooklandia-the-portlandification-of-the-better-borough/"> the borough that has become a way of life</a>.</p>
<p><embed src="http://blip.tv/play/hYh%2Bgsv3aQI" type="application/x-shockwave-flash" width="620" height="387" wmode="transparent" allowscriptaccess="always" allowfullscreen="true" ></embed></p>
<p><strong><a href="mailto:mchaban@observer.com">mchaban [at] observer.com</a></strong> |<strong> <a href="http://twitter.com/MC_NYC">@MC_NYC</a></strong></p>
]]></content:encoded>
		<wfw:commentRss>http://observer.com/2011/08/here-come-the-brooklyn-bridge-park-condos/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	
		<media:content url="http://2.gravatar.com/avatar/becf95fa833b8aeb13f7720732bd6dc6?s=96&#38;d=identicon&#38;r=G" medium="image">
			<media:title type="html">jhanasobserver</media:title>
		</media:content>

		<media:content url="http://nyoobserver.files.wordpress.com/2011/08/bbp_pier1.png?w=300&#38;h=131" medium="image">
			<media:title type="html">BBP_Pier1</media:title>
		</media:content>
	</item>
	</channel>
</rss>
