CRE Projects Targeted for Progress In State of City Address

NEW YORK CITY-Perhaps looking to go out with a bang, Mayor Michael Bloomberg‘s 12th, and final, state of the city address—delivered Thursday at Barclays Center in Brooklyn—revealed an ambitious agenda for the remaining 320 days of Hizzoner’s administration. The Mayor cited numerous projects on the commercial real estate front that he plans to move forward.

Among the tasks he is looking to complete: rezone East Midtown; complete the second construction stage of a third water tunnel; finalize construction on the number 7 train extension, complete the third and final section of the High Line, begin developing the sites around Seward Park on the Lower East Side; and move forward with plans to build a major retail complex and the world’s largest Ferris wheel at St. George, in Staten Island, that would include a 350,000-square-foot retail complex and a 120,000-square-foot hotel.