Posts tagged with "Citi Bank":

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Pier into the future: Tribeca’s Pier 26 to get an OLIN landscape and a Rafael Viñoly–designed science center

Citibank announced on Friday that it will donate $10 million t0 the Hudson River Park Trust (HRPT) for the renovation of Tribeca's Pier 26. For Citi, it's a sweet quid pro quo: the river pier is adjacent to Citi's soon-to-be global headquarters at 388–390 Greenwich Street. Philadelphia-based OLIN will lead the park's design team. Rafael Viñoly will work pro bono to design a research and science education center for the site. Pier 26 will expand programming for Hudson River Park's 17 million annual visitors. In 2008 and 2009, the Lower Manhattan Development Corporation used HUD funds to rebuild the pier to support future development. When current construction is complete, pier will host the science center, free kayaking, and City Winery's sister restaurant, WXY-designed City Vineyard, opening in 2016. HRPT is also getting $10 million from the city for the project, and is applying to the Lower Manhattan Development Corporation for additional support. Construction and completion dates have yet to be finalized. New Yorkers will be able to weigh in on "ideas for uses and programming at the new pier" at Community Board 1's meeting on October 19.
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Mortgage fraud money to remake historic homes in Chicago’s Pullman area

Illinois Attorney General Lisa Madigan announced Tuesday $1.9 million—most of which comes from the state’s portion of a federal settlement with banks over mortgage fraud—will go to rehab historic homes in Chicago’s Pullman neighborhood. Some $1.5 million of the money comes from a 2014 settlement with mortgage lenders including JPMorgan Chase, Wells Fargo, Citi, Bank of America and Ally over fraudulent behavior they are alleged to have encouraged during the lead-up to the 2008 financial crisis. Most of the money will go toward renovating homes in the Far South Side neighborhood, which was created as a company town for Pullman’s once-ubiquitous traincars. The city will kick in an additional $400,000 to help finance the purchase of rehabbed homes as part of an “affordable historic home revitalization initiative,” according to Mayor Rahm Emanuel’s office. That effort is part of a larger state program to battle blight in communities with lots of vacant and abandoned properties. Pullman has seen new development in recent years, including a contentious Walmart in 2010, and ongoing work from the Historic Pullman Foundation to preserve the neighborhood’s architectural heritage. Local preservationists are even hoping to win National Park status for the neighborhood—the National Park Service said late last year that the district “appears likely to meet the national significance and suitability criteria” for further study.