City picks Dermot Company to develop West Side parcels.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. Department of Housing Preservation and Development (HPD HPD Honolulu Police Department (Honolulu County, Island of Oahu) HPD Housing Preservation and Development HPD Housing Preservation and Development (New York City Department) ) Commissioner Jerilyn Perine announced the designation of The Dermot Company, Inc. to develop two large city-owned sites located on 10th Avenue between West 51st and West 53rd Streets in the Clinton neighborhood on Manhattan's West Side. The Dermot Company, Inc. proposes to build Clinton Green, a $170 million development of approximately 600 mixed-income housing units, 11,600 SF of retail space, new homes for the Intar Theater and Ensemble Studio Theater, 29,000 SF of publicly accessible open space, 2,850 SF of community facility space, and 142 below-grade parking spaces. "HPD has led the revitalization re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. of the Clinton neighborhood through years of investment in affordable housing," said Perine. "By making these sites available for environmentally-friendly, mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. , we are continuing these efforts and taking another step toward fulfilling Mayor Bloomberg's housing plan, known as The New Housing Marketplace: Creating Housing for the Next Generation. Through the plan, the city will invest $3 billion over the next five years to create and preserve more than 65,000 homes and apartments in 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 City's neighborhoods." In the RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. , HPD required that developers incorporate "green building" principles, which promote environmentally and financially sound new development geared toward greater energy efficiency, as well as the use of renewable and sustainable resources. Clinton Green will achieve a "silver" rating as outlined in the U.S. Green Buildings Council LEED Ratings System. Dermot has partnered with the AFL-CIO AFL-CIO: see American Federation of Labor and Congress of Industrial Organizations. AFL-CIO in full American Federation of Labor-Congress of Industrial Organizations U.S. Housing and Building Investment Trusts to complete this development. Clinton Green will draw from the AFL-CIO Investment Program's $750 million New York City Community Investment Initiative, which directs pension funds from the Housing Investment Trust and Building Investment Trust to finance New York housing and commercial development and mortgages for working families. The Dermot Company currently has approximately $220 million in assets. It owns, holds investments in, and manages more than 4,000 multi-family units, with over 1,000 additional units in the development pipeline. Construction in Clinton Green is expected to begin in spring 2005. |
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