Search
 

Lower Manhattan Redevelopment Process Poses Challenges

NEW YORK CITY-The rebuilding of Lower Manhattan will be a monumental task with a "vast amount of construction in a small amount of time," according to a speaker at a CoreNet breakfast function dealing with the progress of the redevelopment.

By Barbara Jarvie | Updated on June 22, 2005

NEW YORK CITY-”It’s important for the real estate industry to understand the process and what you can do,” said Charlie Maikish, executive director, Lower Manhattan Construction Command Center, during a CoreNet breakfast meeting dealing with the redevelopment of Lower Manhattan. Maikish, who was selected earlier this year to oversee all construction projects in the area, said Gov. George Pataki and Mayor Michael Bloomberg have taken “undue criticism” over the redevelopment progress.

“I’m not slapping a sign and say ‘under construction, do not enter.’ We need to address the burden, obstacles and the opportunity.” He said there will be a “vast amount of construction in a small amount of time.” The peak construction time is expected to be in 2007, 2008 and 2009. With the Deutsche Bank–130 Liberty St.–site expected to be coming down in the late summer and early fall, he expects the activity in the area will generate some excitement. Part of his job is to coordinate efforts to avoid the impact of the various projects. “We need to make sure we don’t impale, impede Lower Manhattan’s mobility.”

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.