News: Brokerage

Mayor de Blasio unveils $150 million funding for five New York City Anchor Parks

mayor-de-blasio-five-anchor-parksBronx, NY At St. Mary’s Park, mayor Bill de Blasio, council speaker Melissa Mark Viverito, and NYC Parks commissioner Mitchell Silver revealed that the city will fund $150 million in major improvements at five large parks under the new Anchor Parks initiative. More than 750,000 New Yorkers live within walking distance of the five Anchor Parks, and the new investment will fuel the kind of major amenities needed more in these bigger parks, like new soccer fields, comfort stations, running tracks and hiking trails.

The parks involved are: Saint Mary’s Park in the South Bronx, Highbridge Park in Manhattan, Betsy Head Park in Brooklyn, Astoria Park in Queens and Freshkills Park on Staten Island.

“New Yorkers deserve to have the greatest parks in the world steps from their homes. That’s why our administration is focused on park equity, which brings fair access to and development of parks across the city. The Anchor Parks program, joined with the Community Parks Initiative and Parks Without Borders, marks another major step in advancing park equity for all New Yorkers,” said mayor de Blasio.

“I am proud to be part of a team announcing $150 million in capital improvements coming to parks in all five boroughs,” said council speaker Mark-Viverito. “Outdoor spaces like St. Mary’s Park are great equalizers for our city, and this funding makes it clear that every New Yorker, in every neighborhood, deserves access to quality outdoor spaces. I thank mayor de Blasio and council members Mark Levine and Julissa Ferreras-Copeland for their engaged and collaborative work on the Anchor Parks Initiative and look forward to our continued partnership as we work to ensure every New Yorker in every neighborhood in our city has access to quality, open spaces.”

“We call these sites Anchor Parks because they provide a stabilizing, centering force for the communities they serve by offering larger and more diverse resources than smaller community parks. Now, New Yorkers in all boroughs have a once-in-a-generation opportunity to make their older parks new again,” said parks commissioner Silver, FAICP.

Each of the Anchor Parks is slated for $30 million in major improvements. Each was selected based on historical underinvestment, high surrounding population and potential for park development. The Parks Department will commence community outreach beginning this fall to determine which improvements to pursue in each park.

These improvements to larger parks compliment the de Blasio Administration’s Community Parks Initiative, which has targeted more than 60 small neighborhood parks with improvements like new playground equipment, benches, plantings and resurfaced playing courts.

MORE FROM Brokerage

Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence

New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent