LandlordsNY Briefing for February 6th

The New York City Economic Development Corp has signaled that they will take the next step toward approving the streetcar that is planned to run 11 miles along the Queens and Brooklyn waterfront. Known as the Brooklyn-Queens Connector (BQX), the plan is expected to cost $2.7 billion and seems to be a pet project of both developers and Mayor Bill de Blasio. The communities that would be impacted by the new streetcar line, however, are more lukewarm about it. Even transit advocates have largely ridiculed the plan and said that the money would be better spent making improvements to existing mass transit systems.

The project is not inevitable by any means, but the announcement by the EDC to move ahead with approving a contract for a consultant to oversee an environmental review of the project does suggest that the plan is anything but dead.

Amazon's announcement that it plans to build its new HQ2 campus in the proposed path of the BQX seems to have reignited interest in the streetcar.

The Wall Street Journal has more.


Governor Andrew Cuomo announced that John F. Kennedy International Airport’s Terminal 8 will be getting a $344 million overhaul in the next three years. 90 percent of the funds from the revamp will come from the private sector, primarily from American Airlines and British Airways—the former currently occupies the terminal, the latter plans to move in from its present location in Terminal 7.

The improvements are expected to make overall customer experience better. 70,400 square feet of space will be added to the terminal (33,000 square feet of which will become public space). The project will also allow more service between New York City and London.

6sqtft has more.


In a Landlords New York Minute – A (Very) Brief Look Around the World

European Union President Donald Tusk sternly criticized those who promoted Brexit without considering its real world consequences, President Donald Trump and North Korean leader Kim Jong Un will meet in Vietnam later this month to discuss the denuclearization of the Korean peninsula, trade negotiators from the United States will meet with their Chinese counterparts in Beijing next week, General Motors saw its fourth-quarter operating profits drop by 8 percent because of weak (but not as weak as expected) sales in China, President Donald Trump gave his State of the Union last night, there was an abundance of commentary on said speech, several big cities are dealing with major corruption scandals, a 16 percent pay gap between white people with M.B.A. degrees and people of color with M.B.A. degrees still exists, Councilmember Rafael Espinal Jr. (D-Dist. 37) wrote an op-ed for City & State in which he said that green roofs should be made mandatory for certain projects, the construction industry should hire a better and less fanciful public relations firm, the number of stations the Metropolitan Transportation Authority says are accessible is inflated, Mayor Bill de Blasio has indicated that he will pick Department of Sanitation head Kathryn Garcia to run the New York City Housing Authority, the New York Supreme Court has ruled that the American Museum of Natural History can expand into a park that sits a block away from Central Park, a post office on Buffalo’s East Side is going to be converted into a hemp processing plant, New York City is cracking down on foods and beverages infused with the cannabinoid cannabidiol (a/k/a CBD), more pets are eating cannabis by accident, you can now swipe right on pets, a man in the English countryside got into an accident when he allegedly swerved to avoid an octopus in the middle of the road, the Milky Way is warped, and much of the ocean will change color by the end of the century.

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