NYCEDC’s Roster of Major Projects in Different Phases of Planning
As a “mission-driven, nonprofit organization,” the New York City Economic Development Corporation (EDC) plays a key role in “creating a vibrant, inclusive and globally competitive economy for all New Yorkers.” Currently the EDC has several large-scale projects that are in different stages of planning and execution. A few of the more notable projects are snapshot below:
- Brooklyn Marine Terminal – a re-envisioning of the 122-acre terminal provides the opportunity to reshape and enhance its use. Goals by the city include a modernization of the maritime port of which only uses 62-acres, or about 51% of the site, by reducing emissions across operations. The unused space allows for development of new mixed-use residential, open space and waterfront access.
- Coney Island West Development – the request for proposals (RFP) recently released by Mayor Eric Adams and the EDC aims to created 1,500 new mixed-income residential units, retail space, and other public improvements on the city-owned parcel in Coney Island West — a redevelopment masterplan in the Brooklyn neighborhood. The vision also includes a $42 million renovation of the 55-year-old Abe Stark Sports Center.
- Gansevoort Square Redevelopment – The redevelopment of the 66,000-square-foot area located on Little West Street was initially announced in October 2024. The request for proposals (RFP) released in January outlines a vision for up to 600 units of mixed-income housing, with a goal of 50% being permanently affordable, ground floor retails space, new open space, and the opportunity to expand the Whitney Museum. Formerly home of the Gansevoort Meat Market, which elected to leave the site early in cooperation with the EDC and the City of New York. The project is expected to create 600 construction jobs and more than 160 permanent jobs, as well as expectations of generating $940 million in economic impact.
- SPARC Kips Bay and Innovation East – Recently securing approvals from the New York City Council, the two projects will introduce more than 2.5 million square feet of research, education, and healthcare facilities. Projected to generate $42 billion in economic impact over 30 years and create 15,000 jobs, the 2 million-square-foot Science Park and Research Campus (SPARC) project in Kips Bay will transform Hunter College’s Brookdale Campus on East 25th Street and First Avenue into new academic space for CUNY institutions, a public health-focused high school, life sciences research labs, and outpatient healthcare facilities. Another 1,000 jobs to the city’s biotech ecosystem will be added by the Innovation East project that includes the redevelopment of outdated Public Health Laboratory into a new, 500,000-square-foot state-of-the-art life science hub at 455 First Avenue. Expected to break ground by the end of 2025, the anticipated 6-year project also includes the construction of a foot bridge over the FDR Drive and accessible green spaces.
Source: https://edc.nyc/sites/default/files/2025-01/NYCEDC-BMT-Public-Workshop-3-Presentation-Final.pdf
Source: https://edc.nyc/press-release/mayor-adams-nycedc-announce-next-steps-reimagining-gansevoort-square