Nyack, June 16 — Nyack’s Village Board is expected to approve a Request for Expressions of Interest (RFEI) at a special meeting tonight at 7p in Village Hall. The document seeks developers and their ideas for recasting the parcel of land that contains Riverspace, its adjacent strip mall, the M&T bank building and the parking lot bordered by these buildings.
The RFEI approach was recommended by James Lima, the lead consultant for the Superblock Feasibility Study published in December 2010 after no clear consensus emerged on how, and if, the village should proceed with redevelopment. An RFEI, unlike a request for proposal with fixed goals, asks developers to present their ideas and creative approaches to possible development.
Here’s a quick who, what, when, how, where…and why…about the Superblock from the RFEI document posted on nyack-ny.gov.
What: “The vision for the project is to transform an underutilized site into a mixed-use development anchored by a first-class regional cultural arts facility. ..The successful development plan should reinforce Nyack’s history as a regional destination for cultural arts, reinvigorate the fabric of the downtown village area, and appeal to the diverse range of residents and visitors who frequent downtown. The goal of the project is to provide not only an exemplary cultural arts facility in the Village, but also to provide quality office, retail, and residential products that are currently scarce or nonexistent in the area, and reinforce the sense of place and identity what is truly unique to the Village of Nyack.”
“The Site is a priority reinvestment area of the Village. In the Village of Nyack, there are a total of approximately 250,000 square feet of office space, and 355,000 square feet of retail. There is a population of approximately 6,600 residents living in 3,200 residential units, with approximately 57% renters and 43% owners. Each year Nyack draws over 150,000 visitors for events and cultural arts attractions.”
Who: “This RFEI is being issued in cooperation with owners of other developable parcels on the Site, including Millbrook Properties and its sublessor, arts not-for-profit Riverspace, and M&T Bank. These three entities shall be known collectively known as the ‘€œPrivate Interests’€. The Village and Riverspace have entered into a Memorandum of Understanding (‘€œMOU’€) that establishes the roles and responsibilities of each party. In recognition of the unique contributions that Riverspace has pledged to the project, the parties have formed a special purpose entity called The Main Street Partnership (‘€œPartnership’€).
“Respondents [to the RFEI] should demonstrate a broad portfolio of real estate, development and financing experience, including successful past experience with complex public/private development ventures in urban centers. Respondents are also strongly encouraged to create development teams that include cultural arts development and operational expertise. Further, teams are encouraged to include small, local and minority partners with responsibilities in all aspects of the development process.”
How: “The greater opportunity for RFEI respondents is to present in their proposals a compelling redevelopment vision for the Site in a manner that achieves the greatest public benefit and fulfills the most expansive revitalization objectives of the Redevelopment Plan. To that end, RFEI respondents are encouraged to suggest additional offsite public realm and private development investments that hold the potential to create a larger and more vibrant district of walkable downtown Village blocks as well as new and better connections to the Village riverfront park and the Hudson River itself.”
“The Partnership will assist in securing Project incentives to help socially responsible developers who propose attractive new development deals to meet their financial goals.”
Where: The Site is bounded generally by Franklin Street to the west, Main Street East to the north, Cedar Street to the east and the northerly property line of the Nyack Plaza Community Housing to the south.
|M&T Bank Sites||25,900|
|Total Developable Area||153,000|
Why: “…there is an opportunity for developers of the Superblock site to benefit from the town’s economic activity and its unique Hudson River vantage point. The Project will also strengthen Nyack’s position as a regional destination for the arts, shopping, dining and entertainment.”
“The Village, the Private Interests and Area Stakeholders share several key policy objectives for the downtown district:
- Leveraging the Village’s assets to optimize new cultural arts and other mixed-use development and increase pedestrian activity and economic activity downtown;
- Contributing to job creation for Nyack residents, including public housing residents
- Strengthening the Village’s retail demand, with medium and small formats that serve
diverse populations including residents, workers and visitors
- Increasing downtown’s residential population
- Increasing housing production and housing options suitable for various income and lifestyle
groups including Nyack residents, workers and artists
- Identifying solutions for strategically located structured parking that enhance rather than detract from the quality and character of adjacent properties
- Enhancing the educational, creative and cultural attributes of the District through a deeper integration of cultural and community facility amenities with surrounding communities
- Strengthening the quality of life within the District and the abutting downtown area
through additional services, amenities and physical improvements
- Creating a unified and vibrant public realm that provides pedestrian-friendly connections among retail and entertainment corridors and the riverfront
- Maximizing opportunities for shared and mixed-use facilities on Site
- Supporting and expanding a ‘€œgreen’€, sustainable environment featuring LEED construction, active parks, green roofs, attractive streetscapes, pedestrian-friendly streets and a network of open, aesthetically pleasing spaces.”
Source: RFEI for Main Street Development Opportunity in the Village of Nyack, 6/21/2011
See also: Nyack, Riverspace To Sign Superblock Agreement, 4/20/2011