URBAN DESIGN
UPDATE
Newsletter of the Institute for Urban Design May/June 2004 Vol. 20 No. 3 GOVERNORS ISLAND: SEDUCTIVE VISION COULD SEEK INNOVATIVE FINANCE Waterborne Transit San Francisco Seattle New York
Governors Island, that gem in New York Harbor, is starting to sparkle. In May City University of New York confirmed a decision to plan for classes there. This summer, as Saturday ferries carry visitors to the island, boat ticket sales may zoom from the 4,000 of last year up to 40,000. And in the fall a plan will be unveiled to reveal a new vision for the island. Among Fellows working on the plan are Joe Berridge, Urban Strategies, Toronto; Stan Eckstut, Ehrenkrantz Eckstut, New York and Martha Schwartz, Cambridge. On May 27th some fifty participants, including journalists from cities around the country, ferried to Governors Island to attend the Institute’s program: Urban Design: Journalism and Education. John King, urban design writer for the San Francisco Chronicle, presented the renovated San Francisco Ferry Terminal together with upcoming plans for water transportation, while John Pastier presented Seattle’s waterborne system. Wilbur Woods, New York City Planning, described the promise of expanded ferry service in New York’s harbor and rivers, while Tom Fox, President, New York Watertaxi, talked about an expanded range for his service. In an afternoon session chaired by Michael Sorkin, Director Urban Design Program, CUNY, Nan Ellen, Arizona State University, described a new urban design center being established in Tempe to replan Phoenix for a 15,000-student campus. Arizona's initiative resembles that established by Robert Shibley at SUNY Buffalo and precedes a new program (see page 3) announced by University of Pennsylvania to be headed by Fellow Eugenie Birch.
Liberty Bond Financing Queens Bronx Manhattan
Program attendees, who were led on an island tour by expert Bob Pirani, Regional Plan Association, ended the afternoon at The Downtown Association, where nearly 100 Fellows and guests heard Joe Berridge describe parameters for the Governors Island plan. Hopes for the viability of the plan may be predicated on the island’s eligibility for Liberty Bond financing. For all the promise held out by Governors Island, prospects would be dim for actual development were it not for the possibility of financing via Liberty Bonds. The impact already made by the 9/11-generated program was described in a May 30th cover story in the Real Estate Section of The New York Times. Reporter David Dunlap, in a masterpiece of clear writing, explains how $478 million in Liberty Bond financing to four projects has created 1,943 high-end new rental units in Lower Manhattan. Among private developers receiving Liberty Bond financing is Frank Sciame, together with the Durst Organization. They will receive $46 million from the Bank of New York, about half of what it will take to build townhouses in the sky in a design by Santiago Calatrava to go up near the South Street Seaport. Other buildings Liberty Bond-financed are Russell Albanese with Rafael Pelli as architect and Glenwood Management with Costas Kondylas. Emily A. Youssouf, President of New York's Housing Development Corporation, which finances the program, together with the state Housing Finance Agency, calls the financing creative and credits Mayor Bloomberg for leadership in spreading the benefits to create affordable housing in Queens, the Bronx and Manhattan neighborhoods in Harlem. A three percent charge for handling to private developers is providing funds for 390 units at several sites in these areas.