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Article: Governors Island consensus reached?
- Article from:
- Real Estate Weekly
- Article date:
- January 12, 2000
- Author:
CopyrightCOPYRIGHT 2000 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A $370 million joint plan to turn Governors Island into a thriving multi-use mecca- featuring a central conference center along with cultural, educational, historical and museum components - was proposed last week by city and state officials.
The congenial announcement came after years of wrangling over exactly what should happen to the 172-acre former Coast Guard base that is being de-acquisitioned by the federal government.
Under the proposal, New York State and City would each contribute $15 million of the development costs. Private investment would pay for an additional $340 million in improvements to the buildings, which would be awarded under ...