Wednesday, May 06, 2009

Once-planned Atlantic Yards hotel is one of 43 in the city "on ice;" FCR won't comment

At least 43 planned hotels in the city, with an aggregate of some 10,150 rooms, are delayed or completely axed, reports the Real Deal.

A click through to the chart (click on graphic to enlarge) offers this tidbit about what was once a planned 180-room hotel component of Building 1:
With the Atlantic Yards arena and high-rise project mired in lawsuits and unable to get financing, there’s no telling when or if the project’s signature masthead building, renamed Building 1, would get built. At one point, the hotel component was scuttled altogether, but now a spokesman declined to comment on whether it still exists.

Announcement in May 2005

As I pointed out a year ago, new renderings of the flagship tower, originally called Miss Brooklyn, provided the clue.

The Daily News reported that the building would include 650,000 square feet of office space, which is more than the 528,000 square feet described the previous October at an Investor Day. Given that the building was once supposed to also include a hotel with 164,652 square feet, I noted, it's a good bet that the revised plans traded hotel space for office space.

Official plans

The official Atlantic Yards web site still promises "a sports and entertainment arena, landscaped open space, a boutique hotel, ground-floor retail space for local businesses, office space and more than 6,400 units of affordable, middle-income and market-rate housing...."

According to the Empire State Development Corporation's Final Environmental Impact Statement (PDF), issued in November 2006, only one of the variations, the one emphasizing residential space, would contain the hotel:
The residential mixed-use variation would include a full-service 180-room hotel (approximately 165,000 gsf) in Building 1. The commercial mixed-use variation would not include a hotel component.

At the time the project was approved, the residential variation was the only one being talked about. As of now, however, neither variation seems in play, since the project would have 528,000 sf of commercial space, more than in the announced residential variation but less than in the commercial variation.

The FEIS said:
As noted above, the proposed office component would help satisfy the expected need for additional office space. The residential mixed-use variation would include approximately 336,000 gsf of Class A commercial office space in Building 1. The commercial mixed-use variation would include approximately 1.6 million gsf of commercial office space in Buildings 1 and 2 and on Site 5.

It's safe to say that a lot about Atlantic Yards is in flux right now.

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