Lowline boosters James Ramsey and Dan Barasch spoke with the Wall Street Journal this week, shedding light on a few economic details surrounding what could become New York City's first subterranean park, built in an abandoned trolley terminal owned by the MTA underneath Delancey Street in the Lower East Side. Project co-founders Ramsey, an architect and principal at RAAD Studio, and Barasch have most recently been working on creating a full-scale mock-up of their fiber-optic skylight that will bring natural daylight to the cavernous underground space after raising $155,000 on Kickstarter. The team is now promoting the park armed with a new economic impact summary, claiming that it will add value to the adjacent Seward Park Urban Renewal Area (SPURA). Specifically, Ramsey and Barasch argue that building the park would boost SPURA land values by $10 to $20 million and generate up to $10 million in taxes over the next 30 years. The Lowline also revealed its estimated budget, clocking in somewhere between $44 and $72 million to be paid for by a combination of fundraising, donations, and tax credits. If all goes according to plan, the Lowline could be financially self-sufficient, with a $2 to $4 million operating budget paid for by special events and commercial space. Uncertainty still looms over project, however, as the MTA hasn't agreed that the space will be allowed to be converted into a park.
Posts tagged with "SPURA":
Attention developers! It's almost time to prepare your visions for one of the largest redevelopment projects in Manhattan, the Seward Park Urban Renewal Area (SPURA), now that all the approvals are in. While an official Request for Proposals (RFP) won't be issued until early next year, the NYC Economic Development Corporation is getting a jump start on soliciting interest with a new informational brochure issued today including a panoramic new rendering of the SPURA site, marked in orange. The project calls for up to 1.65 million square feet of mixed-use space built from the ground up on a site covering eight city blocks in the Lower East Side that Robert Moses leveled in the 20th century. The project also calls for a reconstructed Essex Street Market and a new 15,000 square foot park. The notice comes with a warning that the RFP process "will have an aggressive timeline," between January and May 2013. Watch for the official RFP to be released at the NYCEDC website, and get ready to rev those rendering engines, architects!
The planned 1.65 million square foot redevelopment of two blocks of the Lower East Side was approved by the Department of City Planning with no requests for changes, according to DNAinfo. The Seward Park Urban Renewal Area (SPURA) is a Moses-era slum clearance project that has stood vacant since the 1960s. The redevelopment would include 900 apartments, 500 of which would be designated as permanently affordable housing, as well as retail, community, and green spaces. The plan now needs approval from City Council to proceed.
Layered SPURA: Spurring Conversations Through Visual Urbanism Sheila C. Johnson Design Center Parsons The New School 66 Fifth Ave. Through February 25 The Seward Park Urban Renewal Area (SPURA) that occupies 14 square blocks on the Lower East Side has remained one of the largest underdeveloped city-owned parcels of land for more than 40 years. Very few of the originally-planned buildings came to pass, and vast parking lots created by slum-clearance on the south side of Delancey Street symbolize a hotly contested renewal plan. Gabrielle Bendiner-Viani and students of the New School’s City Studio have spent three years investigating the complex issues surrounding the site, and in an exhibition highlighting their research and artwork they propose to instigate a new grassroots conversation rather than a top-down planning vision.
Last night, the Seward Park Urban Renewal Area (SPURA) took a giant step forward after 44 years of contentious debate. Community Board 3's Land Use, Zoning, Public and Private Housing Committee approved guidelines for development of the city-owned land at the foot of the Williamsburg Bridge. SPURA’s use of the term “urban renewal” reveals just how long the debate has been going on, a relic from the Moses era when the master planner evicted poor residents from tenements to build affordable housing and an unrealized downtown expressway. Some housing did get built, but much of the unused land became parking lots. “While there were, at times, deep and principled disagreements among stakeholders, I believe that ultimately this process brought our community together,” Assembly Speaker Sheldon Sliver said in a statement. “The final guidelines that were approved by the committee tonight strike an appropriate balance between the needs and concerns of all stakeholders and will result in a development that will ensure our neighborhood continues to thrive.” The guidelines call for 800 to 1000 housing units to rise on the land and to be divided 50-50: 50 percent market rate and the remaining percentage to go to below and middle income families. The breakdown of units for the low to middle income is 10 percent middle income, 10 percent moderate, 20 percent low and 10 percent low income seniors. That the plan incorporates market solutions wasn’t lost on the crowd gathered at the Henry Street Settlement. The area, once a hotbed of Socialism, still retains some of that rallying spirit. During public comments, several speakers requested that document demand 100 percent affordable housing. “The work of Sidney Hillman and others has been destroyed and prostituted,” longtime resident Michael Gottleib told the committee, evoking the name of the area's famed labor leader. One point did unite much of the crowd; several said that the Essex Market should be preserved. For some, the city-owned and subsidized market represents an optimistic scenario for future development. Describing the food hall, speaker Carol Anastasio called it “a mix of the old and the wave of the future.” Emotions continued to run high while the committee listened. Residents displaced in 1960s stood alongside young residents forced out by the high rent. One young woman complained the she and a childhood friend can no longer afford to stay, even though she maintains a moderate income. “I help people at a not for profit and I can’t even help myself,” she said. “Can’t I come back to my own ‘hood? Where I was raised? Where I had my first date?” The full board is expected to approve the guidelines tonight. From there, several civic hurdles must be cleared before ground is broken.