Pier 40 R.F.P. pitches extraordinary opportunity
Trumpeting it as an extraordinary and unique development opportunity for Manhattans budding Hudson River waterfront, last Thursday, the Hudson River Park Trust announced the issuance of a request for proposals, or R.F.P., for the long-term lease, renovation and adaptive reuse of Pier 40. The 14-acre pier, located at W. Houston St. and the West Side Highway on the Hudson River, includes approximately 1.2 million square feet and is part of the 5-mile-long Hudson River Park on the Lower West Side.
The pier currently has approximately 2,000 parking spaces generating an annual parking revenue stream of more than $5 million for the state-city park, which is intended to be self-sustaining. In the piers central courtyard, the Trust has constructed a 3.5-acre outdoor athletic field facility used by organized youth and adult sports leagues and residents. The pier also houses the administrative offices, maintenance facilities and garage of the Trust.
We are extremely excited to be able to seek proposals for Pier 40 at this time, said Charles E. Dorkey, III, chairperson of the Trusts board of directors. This pier offers an excellent opportunity for a creative developer to build something truly spectacular on Manhattans revitalized West Side waterfront.
Pier 40 will be an extraordinary opportunity for creating innovative commercial and recreational uses that can enhance the Hudson River Park experience for residents and visitors alike, said Dan Doctoroff, deputy mayor for economic development and rebuilding and the Trusts vice chairperson. The West Side of Manhattan is booming from Downtown to the Upper West Side, and this exciting location adjacent to Tribeca, Soho and the West Village is at the heart of this revitalization.