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April 1, 2008
Hotel Sought For East Side Bellevue Site
The NY Sun
By Peter Kiefer
A story about a proposed new development in NYC cites Atlantic Yards' delays as an indicator that the market might not be ripe for issuing new requests for proposals.
Despite a flagging economy, the city's Economic Development Corp. and the New York City Health and Hospitals Corp. are seeking a private developer to transform the building that housed the Bellevue Psychiatric Hospital into a hotel and conference center.
The EDC sent out a request for proposals yesterday for a 400,000-square-foot hotel on First Avenue between 29th and 30th streets that would serve the medical and life sciences industries that are represented in the surrounding neighborhood. The revenue generated from the hotel would go back to Bellevue.
Critics are questioning the wisdom of releasing the RFP at a time when major development projects across the city — from the Atlantic Yards to the proposed remake of Penn Station — are either stalled or in jeopardy of falling apart.
Posted by lumi at April 1, 2008 7:45 PM