City plans 107,500 SF parking garage for Washington Heights parcel.New York City Economic Development Corporation Overview New York City Economic Development Corporation (NYCEDC) is a non-profit local development corporation that promotes economic growth across New York City's five boroughs. president Andrew M. Alper announced that E.T. Management & Realty Corp. was selected to develop the 107,500 SF, multi-level Washington Heights Parking Garage with ground floor retail in Upper Manhattan Upper Manhattan denotes the more northerly region of the New York City Borough of Manhattan. Its southern boundary may be defined anywhere between 59th Street and 155th Street. . Construction of the $11.5 million project will begin in the fall of 2003, creating about 100 construction and 31 permanent jobs. "The site is strategically located near the 18 1st St. commercial corridor, the George Washington Bridge George Washington Bridge, vehicular suspension bridge across the Hudson River, between Manhattan borough of New York City and Fort Lee, N.J.; constructed 1927–31. It is one of the longest suspension bridges in the world. Port Authority Station, and the Columbia Presbyterian Medical Center, making it ideal for development as a parking facility with retail space," said Alper. "This project is an excellent example of the Bloomberg Administration's commitment to bringing new development and job opportunities to all 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. neighborhoods." The proposed project is located on the eastern side of Broadway, between 184th and 185th Streets. The City-owned parcel of land will include an approximately 96,000 SF parking garage with five floors and- 300 spaces, along with 11,000 SF of retail space on the ground level. Ultra Car Park, a New York-based parking company, is expected to operate the garage. The site now houses a one-story, 2,000 SF garage and a vacant three-story residential building, which will be demolished de·mol·ish tr.v. de·mol·ished, de·mol·ish·ing, de·mol·ish·es 1. To tear down completely; raze. 2. To do away with completely; put an end to. 3. to make way for the new complex. "As a member of the Washington Heights community for over 18 years, I am very excited about the redevelopment of this parking garage," said Jose Espinal, president of E.T. Management & Realty, Corp. "I am confident that this project will help 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 this neighborhood. I am grateful for EDC's confidence in our proposal and thank everyone involved in making this happen." E.T. Management was chosen to purchase and develop this site after responding to a Request for Proposals issued by EDC EDC See: Export Development Corp. on behalf of the City. In evaluating the responses, EDC took a number of criteria into consideration, including economic impact on the City, development team qualifications, relationship to the surrounding community, and financial feasibility. |
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