July 14th - July 18th, 2008

Pier 57 Bids to Be Accepted

July 14 – The Hudson River Park Trust will begin soliciting bids this week to redevelop Pier 57. According to Crain’s New York Business, the goal is to turn the site into a mix of cultural, education and recreational maritime activities. Bidders must be willing to spend about $150 million to renovate the 300,000 square foot building on the pier which is vacant right now. A winner is expected to be chosen within 6 months.

Court-Appointed Monitors on Site

July 16 – In the next few weeks, Local 14 of the International Union of Operating Engineers – the people who operate cranes in the city- will be asked by federal prosecutors to accept a court-appointed monitor to keep the union free of corruption and mob influence, according to The New York Times. The rash of crane accidents in the City are under investigation by the Manhattan District Attorney’s Office and the City Council is looking at ways to make crane work and construction sites safer.

Actor Named to Board

July 17 – The National September 11 Memorial and Museum at the World Trade Center elected actor Billy Crystal to their board. Additionally Gov. David A. Paterson was named an honorary trustee of the memorial.

Merrill Passes on WTC Site

July 17 - As reported in the New York Times, Merrill Lynch & Company has ended talks with the Port Authority and developer Larry A. Silverstein over moving its headquarters to one of the office towers planned for the 16-acre World Trade Center site. It was hoped Merrill would sign on as an anchor tenant for one of the four towers to be built. While fear over the reviving 9/11 memories and the long-term noise and construction at the site have discouraged potential tenants, state officials say, analysts and real estate executives point to the current economic climate.