The decade-long effort to refurbish the historic Battery Maritime Building remains stalled, as a second developer has been removed from the project, after failing to begin work on the development.

The City's Economic Development Corporation (EDC) -- the agency that negotiates strategic partnerships designed to harness private-sector resources to public projects, and thus foster economic growth -- originally recruited the Dermot Company, in 2007, to create a 140-room hotel with a rooftop restaurant and bar, an event space, and an indoor market in the landmarked structure. This was, in some ways, an unsurprising choice, because the Dermot Company was also the lead partner on a similar project nearby: the restoration of Pier A. EDC's deal with Dermot required the redevelopment to be complete by December 2015.


But the real estate meltdown of 2008, followed by design changes necessitated by 2012's Hurricane Sandy, caused the project to fall years behind schedule and its budget to swell by tens of millions of dollars. The EDC's deal with the Dermot Company finally collapsed in mid-2015, at which point the agency negotiated a new partnership with Stoneleigh Capital, a real estate firm that operates ski resorts in Colorado and California, as well as luxury hotels and spas around the world. This arrangement called for Stoneleigh to complete the project by December of this year. But the company proved unable to obtain the necessary financing, and never began work. By the close of 2016, Stoneleigh had left the Battery Maritime Building development.

"Stoneleigh dropped out and has no further involvement in the project," an EDC source explains. "Construction at the project has ceased as the tenant and the tenant's lender seek ways to restructure the transaction." Although the current lease still calls for the project to be completed by December, 2017, the same source says, "until the project has been successfully restructured, we do not have an estimated date of completion and the development budget remains a moving target."

An architect's vision for the Great Hall in Battery Maritime Building, which was originally conceived as an indoor market, but is now slated to serve as a catering venue and community gathering space.

The publicly owned structure, located at 10 South Street, next to the Staten Island Ferry terminal, is a landmarked Beaux Art ferry terminal built in 1909. It served as the gateway to boats taking passengers across the East River for three decades, but after commuters and vehicles gained direct access to Manhattan with the advent of bridges, tunnels, and subways, ferry usage declined and the building fell into disrepair. (Today, its sole use as a berth is for ferries taking passengers to and from nearby Governors Island.) For decades, developers and community activists have proffered competing visions for the building, with the former advocating commercial uses and the latter pushing for civic amenities, such as a school or museum. Among the building's more notable features is its Great Hall, a majestic 8,500-square foot space, with ceilings 34 feet high, lined with Gustavino tiles. Originally slated to house an indoor market, in the most recent version of the EDC's plan, this space is envisioned as an event venue and community facility.

Feeding time: Two Peregrine Falcon chicks awaiting dinner

Monday, May 8. Two chicks stay warm under their mother as two more eggs continue to incubate. About 3:30 on Monday afternoon, dinner was served before nap time. Click here to watch the Falcon family high above 55 Water Street.

AGENDA 

1) School Emergency Notification Procedures - Discussion with Paul Leonard, Councilmember Margaret Chin's Office
2) Borough of Manhattan Community College Capital Budget Request, Scott Anderson, VP for Administration and Planning - Resolution
3) Overcrowding Task Force - Report
4) Battery Park City Summer Events - Report
5) Hudson River Park Summer Events - Report   

The 6pm meeting takes place at Community Board 1 - Conference Room 

1 Centre Street, Room 2202A-North

Someone with a lot-less

1671 - Thomas Blood, disguised as a clergyman, attempts to steal England's Crown Jewels from the Tower of London.
1763 - The Siege of Fort Detroit begins during Pontiac's War against British forces.
1873 - Der Krach: Vienna stock market crash heralds the Long Depression.
1874 - The first horse-drawn bus makes its début in the city of Mumbai, traveling two routes.
1904 - The steam locomotive City of Truro becomes the first steam engine in Europe to exceed 100 mph (160 km/h).
1950 - Robert Schuman presents his proposal on the creation of an organized Europe, which according to him was indispensable to the maintenance of peaceful relations. This proposal, known as the "Schuman Declaration", is considered by some people to be the beginning of the creation of what is now the European Union.
1970 - Vietnam War: In Washington, D.C., 75,000 to 100,000 war protesters demonstrate in front of the White House.
1974 - Watergate scandal: The United States House Committee on the Judiciary opens formal and public impeachment hearings against President Richard Nixon.
1837 - Adam Opel, German engineer, founded the Opel Company (d. 1895)
1874 - Howard Carter, English archaeologist and historian (d. 1939)
1909 - Gordon Bunshaft, American architect, designed the Solow Building (d. 1990)
1918 - Mike Wallace, American journalist, media personality and one-time game show host (d. 2012)
1921 - Daniel Berrigan, American priest, poet, and activist (d. 2016)
1942 - John Ashcroft,  79th United States Attorney General
1945 - Steve Katz, American guitarist, songwriter, and producer
1946 - Candice Bergen, American actress and producer
1949 - Billy Joel, American singer-songwriter and pianist
1914 - C. W. Post, American businessman, founded Post Foods (b. 1854)
1935 - Ernst Bresslau, German zoologist (b. 1877)
1978 - Aldo Moro,  38th Prime Minister of Italy (b. 1916)
1986 - Tenzing Norgay, Nepalese mountaineer (b. 1914)

Edited from various sources including historyorb.com, the NYTimes.com Wikipedia and other internet searches

The Spanish naval training vessel Juan Sebastian De Elcano arrived on May 2 and was seen leaving yesterday May 8

 

	An Active Sun During a Total Eclipse

 

TO FORWARD THE BROADSHEET DAILY.