High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Outer  | 

No Plans Yet for Vacant NY Wheel Site

The city’s Economic Development Authority hasn’t put forth a plan for the vacant New York Wheel site on Staten Island, six months after the project was declared dead, the Staten Island Advance reported. The site was to have contained a 630-foot-tall Ferris wheel—among the tallest in the world—and was touted as a catalyst for the revitalization of Staten Island’s North Shore.

“It’s a site we can do a lot with for the good of Staten Island, and there’s some real interesting ideas whether it should be focused on economic development, job creation, whether it should be public space, or some combination,” Mayor Bill de Blasio said at a news conference recently. “But the process has really only begun.”

In the interim, the project’s developer hasn’t formally canceled its lease agreement with the city and is still liable for rent payments on the site, according to the Advance.

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Read more at SI Live

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development