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September 27, 2006

Pact Reached to Redevelop Far West Side

The NY Times
By Charles V. Bagli

The Bloomberg administration is giving up on its plan to buy the development rights over the West Side railyards from the Metropolitan Transportation Authority for $500 million.

Instead, under a new proposal worked out over the past week, the city and the authority would do what critics said they should have done in the first place: rezone the 13-acre railyard on the west side of 11th Avenue between 30th and 33rd Streets for high-rise development and sell it to a developer through a bidding process. In addition, the MTA will be applying the same process to the Vanderbilt Railyards in Brooklyn.

article

NoLandGrab: OK, we made up the last part. It does make sense though, doesn't it?

Posted by lumi at September 27, 2006 11:15 AM