News: Brokerage

BPCA to redevelop three-story, historic Pier A in Lower Manhattan

New York City Economic Development Corp. (NYCEDC) has chosen the Hugh L. Carey Battery Park City Authority (BPCA) to redevelop Pier A, the historic three-story pier located at the southern tip of Lower Manhattan, just blocks from Ground Zero.  Plans for the pier, built in 1886, have not yet been determined.  According to mayor Michael Bloomberg, Paula Berry will serve as director of the Harbor District, a newly formed position created to spur the development of a unified waterfront region offering increased access and recreational activities for New Yorkers and visitors. The Harbor District includes nine existing and planned sites in Upper New York Harbor, including Atlantic Basin (planned), Battery Park City, Brooklyn Bridge Park (planned), East River Esplanade (planned) Governors Island (planned), Hudson River Park, the Statue of Liberty and National Monument, Ellis Island and Liberty State Park. "For more than two decades, there have been discussions about developing Pier A in a way that benefits from its prime location on New York Harbor and serves the residents of Lower Manhattan, and today we are taking a major step towards making it happen," said mayor Bloomberg. "Given the BPCA's record of success developing and maintaining the public property to the north of the pier, I am confident the restoration of this historic, 120-year-old pier will serve as an important part of the renaissance underway in Lower Manhattan. I'm also happy that Berry is joining NYCEDC to spearhead our efforts to create a unified Harbor District and improve access for all New Yorkers to what is clearly one of our most valuable resources."  "The redevelopment of this pier is another critical step in the revitalization of Lower Manhattan," said governor Spitzer. "The BPCA, with its unparalleled record of success developing its property downtown, is the ideal group to complete this project and ensure Pier A recaptures its former glory. This announcement is just one of many efforts that we are undertaking to improve the overall quality of life in Lower Manhattan. I am pleased that over the past year we have brought new focus and energy to these and other important projects, including the construction of the Freedom Tower and WTC Memorial." Pier A is a 30,000 s/f facility containing three floors of usable space. It was originally part of the Battery Park City footprint when the Authority was created in 1969.  The pier was later removed from the Battery Park City project area to be developed as a separate entity. It was leased to Wings Point Development Corp. in 1997, but they returned control of the pier back to the city when their plans for redevelopment could not be completed.  Though BPCA will develop the pier, NYCEDC will retain ownership of the property. The BPCA is a public benefit corporation created by the New York State Legislature in 1968 to develop a 92-acre site at the southwestern tip of Lower Manhattan. Parcels are leased to developers who build in accordance with BPCA guidelines, which now incorporate "green" provisions mandating environmental specifications to maximize energy efficiency and minimize water usage, among other provisions.
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