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Land Deal To Advance Moynihan Station Plan
By
Gideon Fink Shapiro
Published Mar 19, 2007
Modified Mar 7, 2008
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By
Gideon Fink Shapiro
Published Mar 19, 2007
Modified Mar 7, 2008
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It's difficult to know quite what to say about the huge transformations on the horizon for the Far West Side. That's partly because major negotiations and plans regarding the future of Madison Square Garden, the Farley Post Office, the Javits Center, the 7-train extension, and rezoning are taking place behind closed doors. Another reason is the uneven pace at which the planning proceeds-- years of plodding speculation followed by the sudden unveiling of a proposal, and merely a few months for public review before the deal is sealed.
Today we learn from the Daily News that the long-brewing sale of the James A. Farley General Post Office by the city to the state should be accomplished this spring. This real estate transfer will allow ESDC and several private firms to proceed with a plan to expand (not move) Penn Station across the street into the historic post office. The State, via the Port Authority and Empire State Development Corporation, is expected to acquire the building for $230 million from the city--a sum agreed upon five years ago. Designated a landmark by the city and the National Register of Historic Places, the 1912 Beaux-Arts structure was designed by McKim, Meade, and White facing the original Penn Station, which they also designed.
What many New Yorkers may not realize is that the adaptive re-use of the post office will most likely include a massive commercial component as well. Private developers Vornado Realty and The Related Companies are holding the reigns. One proposal calls for using two-thirds of the former post office as the new home of Madison Square Garden. Does that mean the Farley Building's colonnade would be plastered in advertisements for Norbit and Levitra like the current Garden? If this "public space" project is financed partly by private developers, does that grant them license to squeeze maximum commercial value from the facility in the same way as they would a completely private development?
Says the Municipal Art Society, "The pressure is on to ensure that the public will benefit from what will also be an extraordinary real estate deal for the private sector partners.... With a final deal not yet agreed to, the public can still weigh in on how up to $1.5 billion of public money should be spent and what they will get for their investment."
More:
Gothamist: The Moynihan Station in the Era of Spitzer
Gallery of Farley Post Office
Photo at right posted by wallyg on flickr. Apologies for the missing credit on the original posting.
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