Exclusive: Inside story of smaller N.Y. Wheel in the works for St. George
Updated Feb 19, 2021;
Posted Feb 19, 2021
The new project promises to be a wheel more similar in size to the London Eye (pictured here), which is 443 feet high. (Plain Dealer/Laura DeMarco)Laura DeMarco
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STATEN ISLAND, N.Y. CanAm Enterprises, which is a sponsor of EB-5 regional center projects, believes the plan to build a smaller version of the New York Wheel about 420 feet high on the St. George waterfront will likely happen by early 2025, the Advance has learned.
The initial N.Y. Wheel project reached its demise on Oct. 23, 2018, when its principals announced they would not follow through with the construction of the 630-foot-high tourist attraction, whose cost had snowballed from an original estimate of $250 million to close to $1 billion. Before the project was abandoned by its major investors, about $200 million was invested to build infrastructure on the site, including the Wh
Oddo: Rezoning proposal to build more than 850 high-rise units on Staten Island ‘reeks’
Updated Feb 11, 2021;
Posted Feb 11, 2021
A proposal to rezone an area of land in St. George was spurred by a planned development last year formerly called Liberty Towers and now known as River North by the Manhattan-based Madison Realty Capital, which needs the zone change to build structures ranging from 12 to 26 stories high.
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STATEN ISLAND, N.Y. Borough President James Oddo says a proposal to rezone an area of land in St. George that would house at least four high-rise buildings with about 850 units “reeks” of the city wanting to change the landscape of Staten Island.
Second high-rise project proposed for St. George
Updated Feb 10, 2021;
Posted Feb 10, 2021
Three St. George land parcels were recently sold for $4.88 million to a Brooklyn-based developer planning to build a mixed-use development on Richmond Terrace. The site is outlined in red. (Courtesy of Casandra Properties)
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STATEN ISLAND, N.Y. Three St. George land parcels were recently sold for $4.88 million to a Brooklyn-based developer planning to build a high-rise, mixed-use development on Richmond Terrace.
The purchase, which included properties at 208, 204 and 198 Richmond Terrace, was made by ZHL Group, said Rob Nixon, who with Brian McGowan both Realtors with the Staten Island-based Casandra Properties brokered the deal for the sale of the property for the seller.
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As the city s most impoverished borough, the Bronx has seen its deep-rooted problems exacerbated by the pandemic. It currently ranks as the state s unhealthiest county, with heart disease and obesity afflicting many in the borough. While the Bronx s unemployment rate stood at 4% in December 2019, it has soared as high as 24% during the pandemic, leaving scores of Bronx residents jobless.
But it doesn t mean all of the Bronx s successes have been obliterated. Construction of new residences remains strong across the borough, though other large-scale projects including the construction of four Metro-North stations along an existing Amtrak line and the Kingsbridge National Ice Center remain in limbo for at least five years.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
MADISON REALTY CAPITAL BREAKS GROUND FOR MIXED USE RESIDENTIAL AND PUBLIC SCHOOL DEVELOPMENT .
Madison Realty CapitalJanuary 22, 2021 GMT
69-02 Queens Boulevard in Woodside, Queens
69-02 Queens Boulevard in Woodside, Queens
NEW YORK, Jan. 22, 2021 (GLOBE NEWSWIRE) Madison Realty Capital, a New York City-based real estate private equity firm focused on debt and equity investment strategies, today announced it has begun construction of the new school, PS Q340, at its mixed-use development at 69-02 Queens Boulevard in Woodside, Queens in a public-private partnership with the New York City School Construction Authority (SCA) and Department of Education. The property services union, 32BJ SEIU will be responsible for building services.