east 125 th street development taskforce summary of rfp reponses april 5, 2007

East 125East 125thth Street Street Development TaskforceDevelopment Taskforce

Summary of RFP Reponses Summary of RFP Reponses

April 5, 2007April 5, 2007

RFP SubmissionsRFP Submissions

Developer A – Harlem EastDeveloper A – Harlem East

Developer C – East Harlem Media Developer C – East Harlem Media Entertainment and Cultural CenterEntertainment and Cultural Center

Developer E – no nameDeveloper E – no name


ProgramProgram Residential Space – 800,000 sfResidential Space – 800,000 sf Retail Space – 480,000 sfRetail Space – 480,000 sf Cultural Facility – 37,000 sfCultural Facility – 37,000 sf Media/Creative/Office – 300,000 sfMedia/Creative/Office – 300,000 sf Parking – 600 spacesParking – 600 spaces TOTAL – 1.71 mm sfTOTAL – 1.71 mm sf


Urban Design ElementsUrban Design Elements 4 story retail base on East 1254 story retail base on East 125thth Street Street Two 13 story residential towers on top of 2 story baseTwo 13 story residential towers on top of 2 story base One 21 story office tower on East 125One 21 story office tower on East 125thth Street and Street and

Third AvenueThird Avenue 15,000 sf of Public Open Space (including a stepped 15,000 sf of Public Open Space (including a stepped

amphitheater)amphitheater) 29,000 sf residential Green Roof29,000 sf residential Green Roof Parcel C is 10 stories with ground floor retailParcel C is 10 stories with ground floor retail Parcel A & B each have 300 parking spacesParcel A & B each have 300 parking spaces


DevelopersDevelopers 1 East Harlem Affordable Housing Developer 1 East Harlem Affordable Housing Developer

(17.5%)(17.5%) 1 Low-Income Housing Developer with office 1 Low-Income Housing Developer with office

in East Harlem (17.5%)in East Harlem (17.5%) 1 Major MWBE Investment Partner1 Major MWBE Investment Partner 1 Real Estate Advisory Firm from CB101 Real Estate Advisory Firm from CB10 1 Experienced NYC developer with large 1 Experienced NYC developer with large

portfolio (principal developer)portfolio (principal developer)

Developer A – Harlem EastDeveloper A – Harlem EastHousing – Total 828 unitsHousing – Total 828 units 47% homeownership, 53% rental47% homeownership, 53% rental 49% 2 and 3 bedroom units49% 2 and 3 bedroom units

TaskforceTaskforce Developer A -Developer A -Rental Rental

Developer A - Developer A - HomeownershipHomeownership

LowLow 30%30% 56%56% 0%0%

ModerateModerate 35%35% 44%44% 25%25%

MiddleMiddle 35%35% 0%0% 75%75%

MarketMarket 0%0% 0%0% 0%0%


RetailRetail Anchor – Department StoreAnchor – Department Store Sit-Down RestaurantSit-Down Restaurant Century 21Century 21 BordersBorders BestbuyBestbuy ApplebeesApplebees Chili’sChili’s Pizzeria Uno’s Pizzeria Uno’s LOCAL RETAIL – 50,000 sf LOCAL RETAIL – 50,000 sf


Media/Creative/OfficeMedia/Creative/Office V-Me – Letter of interestV-Me – Letter of interest Performing Arts SpacePerforming Arts Space Film/Video/Multi-Media StudiosFilm/Video/Multi-Media Studios Art Exhibition SpaceArt Exhibition Space

Cultural Component Cultural Component Operated by AHA & CATCHOperated by AHA & CATCH Host musical concerts, theatre, conferences, Host musical concerts, theatre, conferences,

art showsart shows


Hiring PlanHiring Plan Willing to work with community develop hiring strategyWilling to work with community develop hiring strategy

Job CreationJob Creation 1200 Office1200 Office 27-30 Property Managers27-30 Property Managers 700 Retail700 Retail 32 Residential Property Managers32 Residential Property Managers 15-18 Cultural Related 15-18 Cultural Related 1850 Construction Jobs1850 Construction Jobs


Local Investment FundLocal Investment Fund Details to be determinedDetails to be determined Work with a local business development Work with a local business development

partnerpartner

Contribution to Parks/WaterfrontContribution to Parks/Waterfront No mentionNo mention


ProgramProgram Residential Space – 955,000 sfResidential Space – 955,000 sf Retail Space – 396,000 sfRetail Space – 396,000 sf Cultural Facility – 30,000 sfCultural Facility – 30,000 sf Media/Creative/Office – 230,000 sfMedia/Creative/Office – 230,000 sf Hotel – 104,000 sfHotel – 104,000 sf Parking – 800 spacesParking – 800 spaces TOTAL – 1.71 mm sfTOTAL – 1.71 mm sf


Urban Design ElementsUrban Design Elements TowersTowers

2 residential towers, along Second Ave. (210 ft.)2 residential towers, along Second Ave. (210 ft.)

1 office tower on East 1251 office tower on East 125thth Street and Third Street and Third Avenue (210 ft.)Avenue (210 ft.)

Hotel entry on East 126Hotel entry on East 126thth Street, 8 stories Street, 8 stories Parcel C is cultural component w/ retail baseParcel C is cultural component w/ retail base 800 parking spaces on Parcel B 800 parking spaces on Parcel B 25,000 sf of open space 25,000 sf of open space


DevelopersDevelopers 1 large residential investment company with 1 large residential investment company with

NYC portfolio (33.3%)NYC portfolio (33.3%) 1 large retail developer with ownership 1 large retail developer with ownership

interest in more than 200 regional shopping interest in more than 200 regional shopping centers (33.3%)centers (33.3%)

1 residential housing developer (33.3%)1 residential housing developer (33.3%) No local developers - need help to identify No local developers - need help to identify

partner (will receive ownership interest)partner (will receive ownership interest)

Developer C – East Harlem Media Developer C – East Harlem Media Entertainment and Cultural CenterEntertainment and Cultural CenterHousing – Total 938 unitsHousing – Total 938 units 50% homeownership, 50% rental50% homeownership, 50% rental 80% 2 and 3 bedroom units80% 2 and 3 bedroom units Condominium Homeownership Condominium Homeownership

TaskforceTaskforce Developer C -Developer C -Rental Rental

Developer C - Developer C - HomeownershipHomeownership

LowLow 30%30% 30%30% 30%30%


MiddleMiddle 35%35% 35%35% 35%35%

MarketMarket 0%0% 0%0% 0%0%


HousingHousing Proposed 30% low-income home ownership Proposed 30% low-income home ownership

not feasible (HPD)not feasible (HPD) Also have a 50% affordable housing scenario, Also have a 50% affordable housing scenario,

which only effects purchase price, rest of which only effects purchase price, rest of program stays the sameprogram stays the same

Developer C – East Harlem Media Developer C – East Harlem Media Entertainment and Cultural CenterEntertainment and Cultural CenterRetailRetail NY Sports Club (letter of interest)NY Sports Club (letter of interest) Other possibilities: JC Penny’s, Kohls, Other possibilities: JC Penny’s, Kohls,

American Eagle, Footlocker, Nine West, American Eagle, Footlocker, Nine West, Restaurants, Cinema, etc. Restaurants, Cinema, etc.

44,000 sf of local retail44,000 sf of local retailProject Start-UpProject Start-Up

Community Based Retail Development ProgramCommunity Based Retail Development Program $1,000,000 to create/expand business opportunities $1,000,000 to create/expand business opportunities 10 selected entrepreneurs will receive capital to set up 10 selected entrepreneurs will receive capital to set up

new businessesnew businesses

Developer C – East Harlem Media Developer C – East Harlem Media Entertainment and Cultural CenterEntertainment and Cultural CenterMedia/Creative/OfficeMedia/Creative/Office No informationNo information

Cultural Component Cultural Component 3 story arts center (atop of 3 story retail base)3 story arts center (atop of 3 story retail base) Will not collect rent for cultural spaceWill not collect rent for cultural space Gallery, performing arts, educational spaceGallery, performing arts, educational space Have compiled a list of local organizations to program Have compiled a list of local organizations to program

spacespace Haven’t identified a local partner to operate; seeking Haven’t identified a local partner to operate; seeking

Taskforce inputTaskforce input

HotelHotel 150 rooms - Letter of Interest from Comfort Inn150 rooms - Letter of Interest from Comfort Inn

Developer C – East Harlem Media Developer C – East Harlem Media Entertainment and Cultural CenterEntertainment and Cultural CenterHiring PlanHiring Plan Viable M/WBE plan included in proposalViable M/WBE plan included in proposal Development team is willing to work with local Development team is willing to work with local

communitycommunity

Job CreationJob Creation 32 parking attendants32 parking attendants 767 office 767 office 94 property management 94 property management 480 retail480 retail 100 hotel100 hotel 30 cultural related 30 cultural related 960 restaurant 960 restaurant


Local Investment FundLocal Investment Fund $5 million commitment $5 million commitment

Contribution to Parks/WaterfrontContribution to Parks/Waterfront $2 million commitment$2 million commitment


ProgramProgram Residential Space – 902,000 sfResidential Space – 902,000 sf Retail Space – 466,000 sfRetail Space – 466,000 sf Cultural Facility – 46,000 sfCultural Facility – 46,000 sf Media/Creative/Office – 200,000 sfMedia/Creative/Office – 200,000 sf Hotel – 100,050 sfHotel – 100,050 sf Parking – 700 spacesParking – 700 spaces TOTAL – 1.73 mm sfTOTAL – 1.73 mm sf


Urban Design ElementsUrban Design Elements Retail base throughoutRetail base throughout National Anchor Retail on upper floorsNational Anchor Retail on upper floors Specialty Local Retail on ground floorSpecialty Local Retail on ground floor TowersTowers

1 250 ft. residential tower on Second Avenue between East 1 250 ft. residential tower on Second Avenue between East 126126thth Street & East 127 Street & East 127thth Street Street1 210+ ft. mixed use tower (ground floor retail, topped by 1 210+ ft. mixed use tower (ground floor retail, topped by office, topped by residential) on Third Avenue and East 125office, topped by residential) on Third Avenue and East 125 thth StreetStreet

Infill capped at 8 stories Infill capped at 8 stories Parcel C – 150 ft. residential Parcel C – 150 ft. residential


Urban Design ElementsUrban Design Elements Hotel on Third Avenue between East 126Hotel on Third Avenue between East 126thth Street and Street and

East 127East 127thth Street Street 10,000 sf of open space10,000 sf of open space Cultural Component located off central plazaCultural Component located off central plaza Cinema located at end of open space on Parcel ACinema located at end of open space on Parcel A 80,000 sf of roof-top open space for residential and 80,000 sf of roof-top open space for residential and

officeoffice 700 parking spaces on Parcel B (both commercial 700 parking spaces on Parcel B (both commercial

and residential)and residential)


DevelopersDevelopers 1 large acquisition firm active in NYC (50%)1 large acquisition firm active in NYC (50%) 1 Experienced NYC Affordable Housing 1 Experienced NYC Affordable Housing

Developer (25%)Developer (25%) 2 Local East Harlem Based Affordable 2 Local East Harlem Based Affordable

Housing Developers (12.5% EACH)Housing Developers (12.5% EACH)

Developer E – no nameDeveloper E – no nameHousing – Total 975 unitsHousing – Total 975 units 49% homeownership, 51% rental49% homeownership, 51% rental 80% 2 and 3 bedroom units80% 2 and 3 bedroom units

TaskforceTaskforce Developer E -Developer E -Rental Rental

Developer E - Developer E - HomeownershipHomeownership

LowLow 30%30% 62%62% 0%0%


MiddleMiddle 35%35% 17%17% 42%42%

MarketMarket 0%0% 10%10% 15%15%


HousingHousing Overall Affordability:Overall Affordability:

31% Low, 26% Moderate, 29% Middle, 13% 31% Low, 26% Moderate, 29% Middle, 13% marketmarket

Willing to explore long term affordabilityWilling to explore long term affordability


RetailRetail Letters of Interest from the following possible tenants:Letters of Interest from the following possible tenants:

Bob’s Discount Furniture Bob’s Discount Furniture LowesLowesDallas BBQDallas BBQBJ’sBJ’sOutback Steakhouse Outback Steakhouse Carrabbas Italian GrillCarrabbas Italian GrillIHOPIHOPStarbucksStarbucksRegal Entertainment GroupRegal Entertainment Group

51,000 sf for Local Retail51,000 sf for Local Retail


Media/Creative/OfficeMedia/Creative/Office Attracting Major Office TenantsAttracting Major Office Tenants Media/Creative TenantsMedia/Creative Tenants

Cultural Component Cultural Component Built to meet museum standardsBuilt to meet museum standards Building core/shell – no money for fit outBuilding core/shell – no money for fit out Will be owned as a condominium by a 501c3 formed by Will be owned as a condominium by a 501c3 formed by

developerdeveloper 501c3 will rent out space (at below market rent) to cultural 501c3 will rent out space (at below market rent) to cultural

organizations for programmingorganizations for programming

HotelHotel 175 Rooms, limited service175 Rooms, limited service Letter of interest from Hilton and Starwood Letter of interest from Hilton and Starwood


Hiring PlanHiring Plan 30% MWBE contractors for construction30% MWBE contractors for construction Local employment initiativeLocal employment initiative

Target and train low income/underemployed local residentsTarget and train low income/underemployed local residentsPartner with local workforce development providers (STRIVE Partner with local workforce development providers (STRIVE and EHCCI)and EHCCI)

Job CreationJob Creation 622 Retail 622 Retail 40 Cinema 40 Cinema 254 Office254 Office 20 Fitness center20 Fitness center 134 Restaurant134 Restaurant 50 Residential parking50 Residential parking 49 Hotel49 Hotel 35 Cultural Related35 Cultural Related


Local Investment FundLocal Investment Fund Called “Enterprise Fund”Called “Enterprise Fund” Board of Directors will be selected from Board of Directors will be selected from

community leaderscommunity leaders No monetary commitment outlined in proposalNo monetary commitment outlined in proposal

Contribution to Parks/WaterfrontContribution to Parks/Waterfront No mentionNo mention

east 125 th street development taskforce summary of rfp reponses april 5, 2007

Documents

harlem east slide

sf slide

sf retail space

rental developer

sf residential space

harlem east developers

sf parking

harlem east housing