NYCEDC, HPD, and Council Member Rafael Salamanca today celebrated the City Council approval of The Peninsula, a $300 million initiative to redevelop the former Spofford Juvenile Detention Center into a vibrant 5-acre, live-work campus.
“Over the last three years, we've engaged the Inwood community to protect and create affordable housing, deliver waterfront open space, and provide new opportunities for residents and small businesses. We sincerely appreciate the Board's valuable input and commitment, and we will carefully review their recommendations as we continue to advance our number one priority: Ensuring that Inwood remains an affordable and attractive neighborhood for working families.”
New York City Economic Development Corporation (NYCEDC) is seeking lawyers and law firms to serve as counsel to NYCEDC with respect to negotiations for condominiums for commercial, retail or mixed use properties. Many of the sales and ground leases that NYCEDC negotiates of City owned and other lands involve the acquisition by the City of an ownership interest in a condominium. Where this is the case, NYCEDC negotiates with the purchaser or ground lessee to establish the condominium regime. The condominium units for which NYCEDC negotiates can include community facilities, municipal offices, industrial facilities, affordable housing, market rate housing, and retail and commercial uses, among others. The selected lawyers and firms would be expected to provide representation in connection with these negotiations.