NEW YORK CITY-A bill pending in Albany would grant Hudson River Park Trust, the public benefit corporation overseeing development and operations of Hudson River Park, to sell air rights up to one block east of the park's boundaries.
The money raised by the sale of the air rights could help the trust pay for more than $100 million in estimated repairs at Pier 40, which is one of Hudson River Park's revenue generating attractions, according to the New York Times.
The bill, which is expected to be approved before the close of the legislative session, would expand some of the allowable commercial uses at Pier 40, at Houston Street, as well as others designated for development along the park. In addition to entertainment and retail, allowable uses would include film and television studios, schools, amusement rides and performing arts space. See story in the New York Times.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
