NEW YORK CITY-The booming cruise industry is compelling the city to upgrade its existing New York Cruise Terminal, previously called the Passenger Ship Terminal, and create a new berth on the Brooklyn waterfront. The cruise industry accounts for more than 3,300 jobs and almost $600 million in economic activity and cruise industry revenue is expected to rise to $1.2 billion by 2014, according to the New York City Economic Development Corp.

Norwegian Cruise Lines and Carnival Corp., inked letters-of-intent which call for them paying the city at least $200 million in port charges and bring at least 13 million passengers to the city through 2017. For its part, the city is committing an additional $150 toward the effort. Earlier this year, the NYCEDC said $50 million would be spend on immediate improvements including new taxi stands, elevators and escalators.

Both cruise lines have worked with the city on the master planning process, which was created by NYCEDC, in consultation with Bermello, Ajamil & Partners. The plan calls for the creation of four modern cruise ship berths that can accommodate larger ships over the next four years, with an additional expansion in the following 10 years. New terminals will segregate embarking and disembarking passengers onto separate levels. There will also be enhanced security and additional improvements such as a pedestrian bridge across the West Side Highway. The NYCEDC is currently investigating Piers 7 and 12 in Brooklyn as possible berth sites.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.