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  #481  
Old Posted Aug 7, 2018, 2:08 AM
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https://commercialobserver.com/2018/...this-november/

Empire Outlets: The Biggest Thing to Hit Staten Island Is Opening This November





BY LAUREN ELKIES SCHRAM
JULY 20, 2018


Quote:
Last night was a bright one for developer BFC Partners.

“We’re flipping on the permanent power,” Joseph Ferrara, a partner at BFC, told Commercial Observer during a construction site tour earlier in the day to show off the last phase of construction at Empire Outlets.

Up until that point, workers at the 1.1-million-square-foot six-building outdoor shopping center under development on the North Shore of Staten Island had been relying on generators. Permanent power is needed, Ferrara noted, for “the final inspection.”
Quote:
BFC, which holds a 99-year ground lease on the eight acres that will be home to Empire Outlets, broke ground on what will be New York City’s first outlet mall in April 2015. The majority of the $352 million development—to include about 100 designer outlet retailers, restaurants, a hotel, 3.5 acres of privately owned public space and a welcome center—is now slated to open in November, after a number of “unforeseen construction delays,” Ferrara said.
Quote:
In order to maintain the uniformity of the industrial-looking storefronts, designed by SHoP Architects and overseen by the city’s Public Design Commission, the retailers can only outfit their stores from the inside.

Empire Outlets is 74 percent leased with the hotel yet to be built and a prime restaurant space—of 8,000 square feet indoors and 10,000 square feet outdoors—remaining up for grabs.

“Everybody wants it but we need to get the right fit,” Ferrara said, adding that that tenant cannot just be about food and beverage. “They need to engage our customers,” he said.
Quote:
CO was able to walk into what will be MRKTPL’s 12,723-square-foot artisanal food hall at Empire Outlets. It will house over 30 different vendors. All of the food and beverage operators, (except for Shake Shack which is in a different part of the shopping center), will line the 40,000-square-foot food and beverage deck. Restaurants that have signed on include the likes of Artichoke Basille’s Pizza, Wasabi Steak & Sushi, Mighty Quinn’s Barbeque and Nathan’s Famous.

The 3.5 acres of public outdoor space at Empire Outlets includes a staircase to nowhere with a green roof (and a 1,200-square-foot space underneath it for a seasonal pop-up store), three water features, sculptures and plantings. A 565,000-square-foot parking structure below ground will house 1,200 parking spaces. The project will have 22 escalators and 21 elevators. And there will be orange glass on “every vertical point of circulation,” paying “homage” to the Staten Island Ferry. Solar-powered paver lights will be installed throughout the entire project, and glass bridges will allow natural light to flow down to the retailers on the ground floor.





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  #482  
Old Posted Aug 7, 2018, 3:58 AM
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It’s a shopping mall for the locals.
Does it have Bloomingdales, an Apple Store or Macy’s?

What does it have that can’t be found at other malls?

King of Prussia has so much more.
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  #483  
Old Posted Aug 7, 2018, 7:47 PM
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Originally Posted by TechTalkGuy View Post
It’s a shopping mall for the locals.
Does it have Bloomingdales, an Apple Store or Macy’s?

What does it have that can’t be found at other malls?

King of Prussia has so much more.
It's an outlet mall, first in New York City. One thing that tourist like to do in the city is shop. The locals will come, but it isn't geared as a local shopping mall.



https://www.nycgo.com/shopping/empire-outlets

Quote:
Empire Outlets is a category-defining retail destination and New York City's first and only shopping outlet. It will be the retail centerpiece of the City's newest entertainment district on Staten Island's waterfront. The world-class shopping destination is located at the base of the Staten Island Ferry Terminal, a 20-minute free ferry ride from Manhattan. It will host approximately 100 shops of the finest brands, an extensive array of waterfront food and beverage concepts and a 190 room boutique hotel with rooftop lounge offering unparalleled views of New York City. Empire Outlets' grand opening is set for 2018.



Video Link




Video Link




https://twitter.com/EmpireOutlets?re...empire-outlets

















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  #484  
Old Posted Aug 20, 2018, 4:45 PM
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  #485  
Old Posted Aug 20, 2018, 4:53 PM
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This has to be the best architecture of any outlet mall in the world.
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  #486  
Old Posted Aug 24, 2018, 2:11 AM
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This has to be the best architecture of any outlet mall in the world.
SHoP Architects had a hand in it.
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  #487  
Old Posted Sep 5, 2018, 10:42 PM
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  #488  
Old Posted Sep 6, 2018, 3:20 AM
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https://www.silive.com/news/2018/09/...an_extens.html

NY Wheel applies for an extension to get the project back on track

Sep 4, 2018


Quote:
After being given 120 days to get the New York Wheel project back on track, the developers of the 630-foot tourist attraction are asking for an extension.

The NY Wheel was given a Sept. 5 deadline in Delaware Bankruptcy Court to take steps -- such as hiring a new contractor -- toward recommencing construction of the project.
Quote:
In court papers filed on Tuesday, the NY Wheel said it wants to extend the Sept. 5 deadline pursuant to an agreement currently being prepared.

The NY Wheel issued the following statement to the Advance:

"The New York Wheel is in the process of negotiating an amendment to the settlement agreement, including extending the standstill period. In connection with the amendment negotiations, all parties have agreed to extend the Sept. 5, 2018 deadline in the settlement agreement until, at least, Sept. 11, 2018, so that the amendment can be negotiated."
Quote:
Although the project is entirely funded by private investors, Mayor Bill de Blasio said at a recent town hall meeting that City Hall would get involved to help see a resolution for the embattled New York Wheel.

However, he recently told an Advance reporter that it's the city Economic Development Corporation (EDC) that could help move the project along.

Said EDC: "We are having ongoing conversations with the Wheel developer in the hopes of moving the project forward."
Quote:
The property on which the Wheel is to be constructed is under the jurisdiction of the EDC.

When asked what would happen to the property if the Wheel is not built, the agency released the following statement:

"We remain hopeful that the developer will find a way to deliver this project for the people of Staten Island and New York City. Should the developer not be able to deliver the project, we would engage local stakeholders and community members to gather their thoughts and vision for the future of the site."
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  #489  
Old Posted Sep 9, 2018, 3:38 AM
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https://www.silive.com/news/2018/09/..._extensio.html

Embattled NY Wheel: Court motion outlines last shot at mediation

By Tracey Porpora
Sept 8, 2018


Quote:
The New York Wheel may be granted one last shot in the mediation process to advance the construction of the 630-foot tourist attraction on the St. George waterfront, as the developer and its former contractor, the Holland-based Mammoet-Starneth, have come up with a proposed amendment to the original settlement agreement -- extending the standstill period for getting the project back on track until early 2019.

On Friday, the embattled Wheel filed a motion for an order approving the amendment in Delaware Bankruptcy Court that -- among other things -- gives the developer a final standstill deadline of Jan. 7, 2019, to hire a new contractor to complete the project, according to court documents.
Quote:
In exchange for the extension of the standstill period, the amendment provides, among other things that "if no termination event has occurred on or prior to October 23, 2018, NYW shall be deemed to have waived and released its rights with respect to the ownership of the Wheel Components and allocation of proceeds of any sale related thereto," the motion states.

However, if the Wheel can provide proof to Mammoet-Starneth and Mammoet USA (MUSA) that it has the financing to purchase the parts, the developer can participate in an auction of the Wheel components, according to court documents.
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  #490  
Old Posted Sep 11, 2018, 8:25 PM
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there is an extension for making a deal, but the city hall pulled back and the project has rolled up to $1B in estimated costs, so im wheely afraid its not gonna happen. oh well.

https://ny.curbed.com/2018/9/11/1784...-staten-island
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  #491  
Old Posted Sep 12, 2018, 5:30 AM
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Originally Posted by mrnyc View Post
there is an extension for making a deal, but the city hall pulled back and the project has rolled up to $1B in estimated costs, so im wheely afraid its not gonna happen. oh well.

https://ny.curbed.com/2018/9/11/1784...-staten-island
Isn't it usually the case that when DeBlasio backs away from something Cuomo jumps in?
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  #492  
Old Posted Sep 22, 2018, 4:59 AM
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New York Wheel investors ready to pull plug on beleaguered project

Quote:
The fate of Staten Island’s troubled New York Wheel is taking a turn for the worst. After the city’s recent decision to reject the developer’s request for assistance to get the stalled project back on track, lead partners have told the Wall Street Journal that they are “close to abandoning their plans to build the wheel.”

Investors Lloyd Goldman and Jeffrey Feil told WSJ that unless the city changes its mind, large parts of the 630-foot-high observation wheel that have been manufactured will be sold. Some of the parts are in warehouses in Brooklyn, while others are in six foreign countries.

The New York Wheel has been in the works for at least six years and developers have already spent $450 million in construction cost so far. The city-owned site where the wheel was set to rise is now home to four 100-ton pedestals that were going to hold the legs of the giant ferris wheel. When originally announced, the project was expected to cost around $450 million, however extended delays, cost overruns, and lawsuits between the developer and former contractor Mammoet-Starneth have increased the cost to somewhere around $900 million now.

Developers had been negotiating with the city for months, in efforts of garnering support for a $380 million tax-exempt bond, however the New York City Economic Development Corporation announced that the project was too risky and public funds “too scarce and valuable to be leveraged for this venture.”

However, in an op-ed published by SI Live executive editor Brian Laline, he notes that the bond proposed by investors, a Municipal Revenue Bond program, which is a non-government obligation bond (also known as PILOT bonds), would be insured by the investors to minimize risk and the city would not be on the hook to shell out any taxpayer dollars. He acknowledges that the project is in bad shape, especially after the construction company building the wheel declared bankrupcty, however, Laline argues that the city should help it see to fruition.

At this point, it seems highly unlikely that the New York Wheel will become a reality, which is unfortunate, given the hundreds of millions of dollars that have already been invested into it. The city has stated that they “remain supportive” of the development, but unless they show it through actions, New York City will have to add this one to the never-built club.
====================
1. NYCurbed
2. Wall Street Journal
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  #493  
Old Posted Sep 24, 2018, 3:07 PM
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I'm a big supporter of this project, but there has been too much fighting and delays. If they have decided they aren't going to build without city support, then it's best that all parties move on. The City certainly doesn't look good on this.



https://nypost.com/2018/09/21/de-bla...wheel-project/

De Blasio: No bailout for Staten Island Ferris wheel project

By Rich Calder
September 21, 2018


Quote:
Mayor Bill de Blasio said Friday the city won’t bail out a stalled $900 million project to build the largest Ferris wheel in the Western Hemisphere on Staten Island, noting it was his predecessor’s idea.

“If there is a new proposal, we’ll certainly look at it, but here’s the reality: This was an idea approved in the previous administration [of Mayor Mike Bloomberg],” de Blasio said on WYNC ­radio.
Quote:
Investors asked the city to approve tax-free status for a $380 million bond sale to get the 630-foot-high attraction back on track.

The New York Wheel has been in the works for at least six years. Developers have already poured in $450  million.

The city-owned site where the wheel was set to rise is now home to four 100-ton pedestals.
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  #494  
Old Posted Sep 25, 2018, 11:29 AM
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If the Bloomberg era was characterized by considerable investment in NYC's public spaces - developing innovative parks, making the city a place to enjoy with wondrous public spaces - DeBlasio seems to be doing exactly ZERO of that.

He's still a 14-year-old angry little teen with a fondness for Sandinistas, crapping on anything that anyone who, you know, pays the taxes in this city could ever enjoy. "Less fun, less infrastructure, less for you; more taxes and handouts for the people I favor" seems to be the DeBlasio way. Oh, and soaring homelessness plus crumbling subways.
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  #495  
Old Posted Sep 25, 2018, 12:51 PM
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^^^^^

The wheel has been a mismanaged nightmare to begin with.

I know with Deblasio its a mixed bag in terms of how the city views him, but his administration is very pro-development. At first it might not have seemed like, but he is following in the steps of Bloomberg to further grow the city.

This project isn't crucial for the city, hence the denial. If this was a crucial infrastructure project or crucial private sector project, we'd see some assistance (for example a major project adding 1000's of affordable units). Plus the size of the bailout is quite high, not to be taxed either.
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  #496  
Old Posted Sep 25, 2018, 1:21 PM
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Originally Posted by NYer34 View Post
If the Bloomberg era was characterized by considerable investment in NYC's public spaces - developing innovative parks, making the city a place to enjoy with wondrous public spaces - DeBlasio seems to be doing exactly ZERO of that.

He's still a 14-year-old angry little teen with a fondness for Sandinistas, crapping on anything that anyone who, you know, pays the taxes in this city could ever enjoy. "Less fun, less infrastructure, less for you; more taxes and handouts for the people I favor" seems to be the DeBlasio way. Oh, and soaring homelessness plus crumbling subways.
An extreme and completely unfair assessment of DeBlasio. Crumbling subways? Seriously? You think that's DeBlasio's fault? You do know Cuomo and the state control the purse strings right?
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  #497  
Old Posted Oct 19, 2018, 3:26 PM
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the oct 28 drop dead deadline is fast approaching!

https://newyork.cbslocal.com/2018/09...wheel-bailout/
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  #498  
Old Posted Oct 20, 2018, 5:30 PM
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lol this project is toast--i can't believe anyone seriously thought this was going to happen anyway
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  #499  
Old Posted Oct 21, 2018, 1:58 PM
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lol this project is toast--i can't believe anyone seriously thought this was going to happen anyway

Whay are you talking about? This project was already under construction, the parts already fabricated. There were a series of problems that led to its current state. I can't believe you wasted time posting in a thread of a project you never thought would happen.
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  #500  
Old Posted Oct 21, 2018, 3:14 PM
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Whay are you talking about? This project was already under construction, the parts already fabricated. There were a series of problems that led to its current state. I can't believe you wasted time posting in a thread of a project you never thought would happen.
I don't think it's a stretch to declare this project more or less dead, even if the parts have been fabricated. The feasible draw from this was always going to be negligible, and the scheme was premised on the idea that Staten Island would magically develop a tourism industry. Since the adjoining outlet mall has already been completed I have to imagine the wheel will be abandoned forthwith.
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