'Father' of Battery Park City calls for northern extension.Charles Urstadt, vice chairman of Battery Park City and chairman of Urstadt Biddle Properties, addressed the Associated Builders and Owners of Greater New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Inc. (ABO ABO See: Accumulated Benefit Obligation ) at its May 17 luncheon at The National Arts Club The National Arts Club is a private club founded in 1898 to "stimulate, foster, and promote public interest in the arts and to educate the American people in the fine arts". Since 1906 the organization has occupied the Samuel J. and made an impassioned call for the creation of Battery Park City North. Battery Park City is currently composed of 93 acres, with 9,000 residential units and six million square feet of office space. Urstadt, the "Father of Battery Park City," is calling for the extension of the man-made land mass up the Hudson River Hudson River River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629. to the Holland Tunnel The Holland Tunnel is a highway tunnel under the Hudson River connecting the island of Manhattan in New York City with Jersey City, New Jersey at Interstate 78 on the mainland. . "Battery Park City pays the city millions annually and is completely self-sufficient. The new development would create additional revenue for the city." said Urstadt. "In order for us to create land for Battery Park City North, we need to create the land by dredging dredging, process of excavating materials underwater. It is used to deepen waterways, harbors, and docks and for mining alluvial mineral deposits, including tin, gold, and diamonds. the river and using dirt from several Downtown of rice high-rise projects. The cost for the project will be approximately $75 per-square-foot for the 50-acre site. In addition, the process would be easier this time around, we have the people, experience, history, and knowledge already in place to create the extension of Battery Park City." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Urstadt, the \development site is one of the biggest available in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and would produce billions in revenue for the city. "It's a logical idea to create the expansion of Battery Park City," said Urstadt. "If we set what's economically needed in the expansion, like for example the right businesses, schools, and high-rises, then we will be able to generate about $180 billion dollars for New York City." "I believe we should propose this idea to the mayor and our governor for the simple reason that this project proves it has a great advantage," said Urstadt. "By creating Battery Park City North from the Hudson River to the Holland Tunnel it establishes a longer trail for residents to walk to work, less traffic gridlock Gridlock A government, business or institution's inability to function at a normal level due either to complex or conflicting procedures within the administrative framework or to impending change in the business. and a financial boost to the area". Urstadt noted that if the mayor or any other elected official did not agree with this proposal there are other ways of moving forward. "The city's government could agree not to take on this project, but how would we pay for it?" said Urstadt. "We can sell bonds! It can get the project done, but it's uncertain. Or, we can privatize the whole project and sell the 143-acre site for $3 billion dollars." "I have taken this plan to the Mayor, so it can join his grand development plan and he has denied taking in the idea," said Urstadt. "It will be a hard battle to get the support of our local government, but we must reach out to them and fight the battle." Urstadt mentioned that in order to get full support from Governor Elliot Spitzer and Assembly Speaker Sheldon Silver Sheldon Silver (born February 13, 1944) is a politician and member of the Democratic Party, currently serving as Speaker of New York State Assembly. Personal life An Orthodox Jew of eastern European descent, Silver has lived all his life on Manhattan's Lower East Side. , they and every other elected official would have to be convinced of the project's need in New York City. "There needs to be a threat to push this plan forward," Urstadt explained to attendees. "The threat can be the loss of downtown's vitality as a financial hub for the world. If we build more developments, we can secure Manhattan's status in the financial industry, someone just needs to pick up the ball and carry with this idea." "There is a five-in-one chance that the project will never go forward, but we need the support of key players in the real estate industry like ABO and other real estate organizations that can help carry the ball to convince our government of Battery Park City North, being a grand investment for New York City," Urstadt told attendees. |
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