It looks like some major players are interested in a huge Harlem project on E. 125th Street that would involve about 1.7 million square feet of development on six acres. The contenders, identified by Crain's, are Vornado Realty Trust, General Growth Properties and Thor Equities. The development would include "a retail component anchored by a national chain, plus local shops, restaurants, cinemas, nightclubs and possibly a hotel." It would also have up to 1,000 apartments. The site, which is between E. 125th and E. 127th Streets and Second and Third Avenues currently holds and MTA bus depot, parking lot, vacant land and a few businesses including a gas station. This is actually the third time the city has tried to develop the land. A 1997 effort fizzled and a 2005 idea for a shopping mall was killed by community opposition. The area wasn't part the 125th Street rezoning, but the city is working on rezoning it.
· City ready to choose E. 125th developer [Crain's]
Sometimes, it's probably good to be the project that everyone forgot about. Compared to the crap storms that have developed around just about every big development you can name, Pier 94 has flown so far below the radar that most people don't even know its going on. Nonetheless, Crain's is reporting that Vornado Realty is going to redevelop and expand Pier 94, AKA Manhattan's "second" convention center, which has been hosting small trade shows since 1998. The process of picking a developer started in 2006. The $100 million expansion will more than double the size from 150,000 to 355,000 square feet. Vornado will pay for the construction and get a 49-year lease. Take that, Javits Center. You too, Vegas on the Hudson. And, while we're at it, get get it together, Pier 15.
· Vornado to Double Pier 94 [Crain's]
Depending on how this one turns out, someone may someday turn the roller coaster ride called Moynihan Station into a Broadway musical. There are certainly enough interesting characters involved. Today's installment is a grim assessment by Eliot Brown in the Observer that describes a plan that "seems on the edge of collapse." The next test is securing that pesky $1 billion in funding. For those keeping score, $550 million has been pledged toward Penn Station redevelopment by Vornado and Related Companies. The city and state have promised $300 million. The Spitzer Administration is looking for another $200-$300 million from the city and state and about $800 million, give or take, from Washington. The original Moynihan plan was priced at $900 million. The new one is $2 billion. If it doesn't come together? " The project as is could easily unravel toward a scaled-back version—or to nothing at all, condemning generations of commuters to the same old Penn Station."
· What If Moynihan Station Doesn't Happen? [NYO]
· Time to Pass the Hat on Moynihan Station [Curbed]
Today marks another stepping stone on the way to the Moynihan Station/Penn Station/Farley Post Office/MSG thingamajig. There's a public hearing about the project, but since designs and numbers are still being tossed around, no one's expecting anything new or exciting. Citizens will, however, get to comment on the famed scoping document. Yep, it's going to be pretty boring, but there's plenty of excitement on the sidelines. Charles Bagli reports in the Times today that Moynihan developers Related and Vornado are trying to lure Macy's from its landmark headquarters on 34th Street to a new location inside the train station. Wait, so they're not going to fills Moynihan's millions of square feet of retail space with Duane Reades, Chase banks and Pinkberrys? An interesting strategy, for sure.
· Moynihan vision remains unclear [Metro]
· An Effort to Tempt Macy’s From a Century-Old Home [NYT]
· Moynihan Station Gets Nailed by Supporters [Curbed]
The Port Authority has tried to sell off the development rights above its Midtown bus terminal before, but the plan fell through. Sure, it may have been 9/11 that soured the deal, but the crushing depression that would sweep through the ranks of any company that moved into a building above the Port Authority might have also had something to do with it. Either way, now that the corner of 42nd Street and Eighth Avenue is something of an office mecca—with the new Times HQ and the coming 11 Times Square—the Port Authority is trying again. The deal, to be announced today, calls on a joint venture of Vornado Realty Trust and the Ruben Company to erect a deck over the northern portion of the four-story bus station and build a 1.3-million-square-foot office tower. Over the next year, there will be an architectural design competition to figure out what this monster will look like, and the companies have four years to build it. It's too early to speculate on potential tenants, but as long as it's not us, we're cool.
· Tower Planned Atop Port Authority Bus Terminal in New Wave of Development [NYT]
Merrill Lynch's move from Brookfield Properties' World Financial Center to a new skyscraper built on the ashes of the Hotel Pennsylvania in Midtown seemed like a sure thing. Then Merrill's CEO stepped aside amidst financial turmoil, and then the landmarking campaign for the Hotel Penn gained some momentum, and now, the Observer's Eliot Brown reports that Gov. Spitzer is trying to lure Merrill Lynch into the World Trade Center's Tower 3. For those who need a refresher, Tower 3 is Sir Richard Rogers' flag-waving entry to the WTC hodgepodge (right). Reportedly, Spitzer wants to cut Merrill a huge deal on the cost of the move—like, hundreds of millions of dollars. Let's just say that Brookfield and Hotel Pennsylvania landowner Vornado can't be happy with this Spitzer-Larry Silverstein collusion, which essentially ruins the fair fight to win the bank's money. But they both have that little Hudson Yards thing going on, so maybe Brookfield and Vornado are distracted. Dudes, you guys are totally getting effed over here!
· Spitzer Goes to Bat for Silverstein, Vies to Keep Merrill Downtown [NYO]
· Commence Heavy Tugging: Merrill Move in Jeopardy? [Curbed]
· 'Heavy Tug' Fails: Merrill Headed For Hotel Pennsylvania? [Curbed]
· Merrill Lynch Getting Sexy 'Heavy Tug' to Stay [Curbed]
Phew! Now that the five Hudson Yards bid are in, it's time for the swift, cruel hammer of judgment to come down. But given that the MTA won't say how much the developers are bidding (pissing off some), and since the building designs will surely change as the winning bid navigates various approval stages, how can the proposals be accurately assessed by the public? Simple: by Curbed poll! So, the first task is to read up on the Brookfield Properties, Extell, Related, Vornado/Durst and Tishman Speyer bids. The second is to forget all about what will win (Related, most likely), and what has no chance of winning (Extell). The third is to simply ask yourself...
Developer: Vornado Realty Trust/Durst Organizatin Architects: FXFowle and Pelli Clarke Pelli Biggest building: 80 stories, 1,205 feet tall Housing: 7,000 units Public space: 12 acre park in the middle, assorted green space mixed in High Line?: Saved and destroyed! The 30th Street chunk would remain, but the portion curving north up Twelfth Avenue toward the Javits Center would be removed. Online?: Nope!
Eco-friendly developer Douglas Durst and deep-pocketed Vornado have teamed up for this proposal (and Condé Nast would anchor one of the four commercial buildings), which we've dubbed Dr. Feelgood. It's all about sustainable development, water conservation, efficient energy, blah blah blah. It's also more dedicated to residential development than the others, a move that should rally support among housing advocates. But, there's controversy here. Durst/Vornado wants to tear down the wooden portion of the High Line along the Hudson. The space-age elevated walkway cutting through the development and over the West Side Highway to Hudson River Park is called the "Skyline." Oh, and FXFowle's Daniel Kaplan told the Sun today that the Skyline would be "21st century version of the High Line." Now that's ballsy. Friends of the High Line already emailed us to say, "Isn't the High Line the 21st century version of the High Line?" They have a point.
Comments
Depending on how this one turns out, someone may someday turn the roller coaster ride called Moynihan Station into a Broadway musical. There are certainly enough interesting characters involved. Today's installment is a grim assessment by Eliot Brown in the Observer that 
Today marks another stepping stone on the way to the Moynihan Station/Penn Station/Farley Post Office/MSG 
The Port Authority has tried to sell off the development rights above its Midtown bus terminal before, but the plan fell through. Sure, it may have been 9/11 that soured the deal, but the crushing depression that would sweep through the ranks of any company that moved into a building above the Port Authority might have also had something to do with it. Either way, now that the corner of 42nd Street and Eighth Avenue is something of an office mecca—with the new Times HQ and the coming 
Merrill Lynch's move from Brookfield Properties' World Financial Center to a 
