Volume 17, Number 43 | March 18 - 24, 2005
Finding the best use for Pier 40
As we wait and hope for the governor, mayor and the Lower Manhattan Development Corporation to give the green light for money to build the Tribeca section of the Hudson River Park, just to the north we have concerns about the parks Pier 40. A new marketing study for the pier seems to cover some of the same ground from the piers failed development process in 2003.
Under the Hudson River Park Act, space equivalent to half the footprint of the 14-acre pier at the end of W. Houston St., must be left for public recreational use. Following the Hudson River Park Trusts failure to pick any of the developers from the last process, an interim artificial-surface sports field was built in the piers courtyard and should open this spring.
Something like this field might be incorporated into an enhanced park in the piers final redevelopment. The question is what will the other 50 percent of the pier be?
Bay Area Economics marketing study commissioned by the Trust, offers 10 options, including an aquarium, marina, educational facility, public market such as the flower market a meeting-and-event facility; and artists and hobbyists spaces. To the relief of many in the surrounding communities, the study rules out big-box retail, concluding these stores would be profitable but never win community approval.
New York University submitted a proposal before which wasnt even a finalist for sports fields, classrooms and seminar rooms. But if N.Y.U. really felt the pier was desirable, one would think it would have made a more serious proposal.
B.A.E. notes the Trust could decide to develop the pier on its own, if the Park Act were changed. This idea is worth considering. The current long-term parking on the pier is something the community wants to keep, which the Trust has acknowledged. The parking alone brings in a few million dollars for the park each year. At some point one has to ask: isnt this a sufficient amount of revenue? And if so, shouldnt the Trust just try to develop the pier into a park on its own?
If the only two components are the park and parking, the project is far simpler and cheaper. And residents of Soho, Hudson Sq., the Far West Village and Tribeca are not crying out for uses other than those on Pier 40 active and passive recreation, and parking. Really, another study is needed to examine the feasibility, and break down the costs, of the Trusts designing and building a Pier 40 park on its own.
This page has repeatedly called for the Trust to release a financial plan for the 5-mile-long park to give an accurate picture of how much revenue each commercial pier is expected to generate for the park, which is geared to be self-sustaining. The Trust has never done this, which hinders efficient planning for the park as a whole, and for Pier 40 in particular. More to the point, if the financial bar is lowered, perhaps some uses with less negative impacts will emerge.
All we know now is that if things dont change and the Trust issues a request for developers in a few years we could find ourselves in the same position as before, with a failed Pier 40 process on our hands.
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