March 17th - March 21st, 2008

ESDC Chairman Resigns

March 18 – ESDC Chairman Patrick Foye handed in his resignation to Governor Paterson over the weekend. Director of State Operations Paul Francis asked LMDC Chairman Avi Schick to serve as acting CEO of Downstate ESDC. Foye, who served at ESDC for the past 15 months, offered to serve a transition period before Schick assumes the interim role.

Construction Safety Hearing Announced

March 20 – The City Council announced it will hold a hearing on construction safety on April 29. The announcement comes after a 7 people were killed in a crane accident on the Upper East Side. Speaker Christine Quinn told The New York Sun, “Construction is a crucial component of our economy, but we cannot sacrifice safety in the name of development.” She indicated the Council may pass new laws regulating crane safety.

1 Chase Manhattan Plaza Named Official Landmark

March 20 – 1 Chase Manhattan Plaza will be named an official landmark. According to The New York Times, the Landmarks Preservation commission voted unanimously on Tuesday to consider the designation. The building was completed in 1961; at the time the aluminum and glass skinned tower was considered to be an unwelcome addition to Lower Manhattan.

JP Morgan Chase Expected to Build Tower at WTC Site

March 21 – Published reports say JP Morgan Chase will move ahead and build a tower at the WTC site. The New York Post is quoting a Chase spokesman who said the company is exploring other alternatives at Site 5. Sources close to the talks about Tower 5 said the building will probably not include the cantilever trading floors that were first proposed by Chase. Earlier in the week, The Port Authority was said to be considering a mixed use building or a residential high rise for 5 World Trade Center, according to The New York Sun.  A Port Authority spokeswoman said Chase is still interested in site 5. PA spokeswoman Candace McAdams said yesterday, “We look forward to JP Morgan playing an important role in rebuilding the World Trade Center site.

High School Relocates to Downtown

March 21- Lower Manhattan is reportedly getting a new high school. Kirsten Connor, Executive Director of CityKids, told Community Board 1 that the Urban Assembly School of Business for Young Women will move from east 12^th street to 45-50 Broadway. According to the Downtown Express, the Community board apparently hadn’t heard the news until this week.

New Hotel Planned for Lower Manhattan

March 21- Another hotel is being planned for Lower Manhattan. An application was filed with the Department of Buildings for a 30 story hotel at 161 Front Street near the Seaport. The Downtown Express reports the hotel will have 180 rooms.