Showing posts sorted by relevance for query harlem hyatt. Sort by date Show all posts
Showing posts sorted by relevance for query harlem hyatt. Sort by date Show all posts

Wednesday, November 10, 2010

☞ READ: Harlem Hyatt Moves Forward

There seems to be some hope for the proposed Harlem Hyatt at the corner of Lenox and 125th Street as reported by the Uptowner (a Columbia grad paper): LINK.  When we were photographing the drilling at the open lot yesterday, Emmitt Smith's development group received full approval of the project from the New York City Capital Resource Corporation. As previously reported, "groundbreaking" has to happen by December 31st but this apparently is a ceremonial event since a New York City Economic Development Corporation official stated at the meeting that the actual construction will not begin until early 2011. Mr. Smith's organization proved to the board that gains were made by reaching an agreement with the New York Hotel and Motel Trades Council and that the final negotiations with MWB General Construction was at hand.

Another project in Brooklyn had been approved for the $15 million in tax exempt bonds by the EDC (just in case the Hyatt deal falls through) but today's Wall Street Journal reports that there's enough money to go around for the December 31 deadline. New York City was allocated $121 million in Recovery Zone Bonds that had to be used by the end of the year or the money will go back to the federal government. The Harlem Hyatt was scheduled to receive the last of the tax-exempt bonds and many thought that when the Brooklyn project received the approval that there would not be any funds left.  Today's WSJ article reveals that another development deal has since collapsed and this will allow the Harlem Hyatt to move forward if all the paperwork is completed on time: LINK. Top photo is of the August drilling on the proposed site.

Tuesday, June 8, 2010

☞ REVIVE: Will Harlem Hyatt Receive Funding?

The follow-up board meeting to review the approval of the $20 million in subsidies needed for the Harlem Hyatt development on 125th street convened this morning at the EDC offices downtown. We had our intrepid insider wake up early to attend the 9:00 AM event. After going through a list of other local economic developments, the funding of the Harlem Hyatt was finally on the table. So what was the verdict? The final decision by the committee, after a recap of the public approval session, turned out to be a unanimous YES. This is still just a third step preliminary approval of this project but everything is falling into place thus far. Read all things Harlem Hyatt in our past post: LINK. Photo by Ulysses

Thursday, October 21, 2010

☞ READ: Harlem Hyatt May Lose Funding

The Wall Street Journal reports that football legend Emmitt Smith's company has city officials worried about the proposed Harlem Hyatt and the project may end up losing crucial financing.  Back in June, the city's Economic Development Corporation granted $19.7 million in Recovery Zone Facility Bonds to subsidize the $81 million hotel planned for the corner of Lenox and 125th Street.  One of the major caveats was that groundbreaking would happen by December 31 and last month was the reported date set for the groundbreaking.

Rolling into October, permit applications are still not listed on the DOB site and now the city has two other back up projects planned since the Recovery Zone money goes back to the federal government if not used by the end of the year. There will be a meeting on November 4th to review the alternative Brooklyn developments and Mr. Smith's company could not be reached for further comment: LINK.  Read more on the Harlem Hyatt in our past post: LINK

Tuesday, December 21, 2010

☞ READ: Harlem Hyatt Misses Crucial Deadline

Today's Wall Street Journal reports that the Harlem Hyatt project will officially miss the deadline to receive $20 million in tax-exempt federal financing but the developers still plan to move forward.  As most following the story know by now, Hall of Fame football star Emmitt Smith's company ESmith Legacy Inc. had previously been granted the bonds that would have moved along the $81 million hotel project at 125th Street and Lenox but only if the official ground breaking makes the December 31, 2010 deadline.   Since the federal money could  be used by another New York City project, the developers announced last night that they decided to withdraw the fund request. Even though this is a major blow to the Harlem Hyatt development, Brian Morris, one of the firms co-founder has stated that all other financing to get the project started will be in place by the end of the first quarter of 2011.  Read more details on the article at the Wall Street Journal site: LINK

Thursday, June 23, 2011

☞ READ: Harlem Hyatt Financing at Last Phase

We mentioned that the president of football star Emitt Smith's development company will be meeting with the 125th Street Business Improvement District this month to talk about the proposed Harlem Hyatt and that event happened this past Tuesday.  DNAinfo was on hand at the 125th Street BID meeting where Brian Morris of ESmith Legacy Inc. reassured the crowd that the project will happen but the timeline was still unclear.

Saturday, June 5, 2010

☞ READ: Last Week's Most Talked About Posts

Harlem Building Detail by Ulysses

1. Charter Schools to Double in Number: (34)
2. Harlem Hyatt Gets Public Approval: (30)
3. Central Park North a Boon for Harlem: (25)
4. Marcus Samuelsson Talks About Harlem: (24)
5. City to Review Harlem Hyatt Proposal: (21)

Monday, August 30, 2010

☞ REVIVE: Some Activity on Harlem Hyatt Site

A reader mentioned they saw some activity on the corner lot at 125th Street and Lenox Avenue this morning so we decided to take a look at the future home of the proposed Harlem Hyatt. Folks might remember that back in early June, the city's Economic Development Corporation voted to proceed with "$19.7 million in Recovery Zone Facility Bonds to assist in the development and construction of an approximately 100,000-square-foot hotel on a 32,500-square-foot vacant parcel of land located at 100 West 125th Street in Harlem." Based on the press release, the goal was to have ground breaking within 2010 and the project finished by 2012. More specifically, September was given as the exact timeline for things to start happening.

As far as what went on today, it doesn't seem like anything major since work permits are not up on the DOB site for 100 West 125th (AKA 293-297 Lenox). There was a car, a small truck and the larger one seen in the photo (which was connected to a narrow hose leading into the sidewalk). The crew is digging around currently on the grounds but nothing is happening that apparently requires a permit. Emmitt Smith's $80.6 million hotel would be a great boon to the 125th Street corridor but many are hesitant to believe that it will happen until the structure actually starts rising. Read the official press release from June: LINK. See what Harlem had to say in our original post on the announcement: LINK.

Thursday, June 3, 2010

☞ READ: City to Review Harlem Hyatt Proposal

The funding for the proposed Harlem Hyatt at Lenox and 125th Street will be starting its initial approval phase with a public hearing of city agencies and the local community. The Wall Street Journal reports that the New York City Capital Resource Corporation, "a local development corporation controlled by Mayor Michael Bloomberg," will be reviewing the community benefits and wages that the new hotel will provide. The goal is to get community approval for the $20 million tax exempt bonds that the project needs to get off the ground. Part of the proposal now has a planned Whole Foods at the lower two floors, and a YMCA will reside on most of the third and fourth levels of the future 200-room hotel.

Folks might remember that in recent news, some major city projects have been thrown out the window because higher than minimum wages were demanded as part of the community benefits, so this might be an issue for developing the Hyatt. A subscription will be needed for the WSJ article to be read in full: LINK. Read more about past minimum wage issues and city projects in the NY Daily News: LINK. So if you want this to happen, come to tomorrow's public hearing/community review downtown, Friday, June 4th, 10:00 AM at 110 Williams Street (Cross Street Fulton St), 4th Floor, Room 4 A/B. Closest subways to get this location are the 2, 3 or the A,C . Photo by Ulysses

Friday, June 4, 2010

☞ REVIVE: Harlem Hyatt Gets Public Approval


So, we might have gotten someone to check out the public hearing at 110 Williams Street for the proposed 125th Street Harlem Hyatt this morning, and here are the pictures to prove it (Emmitt Smith is at the center of the lower photo, right after the meeting)! Click on image to enlarge.

Our reporter noted that the room was set up for around 100 people, and the seats were filled to capacity by 10:10 AM. The famous football pro, Emmitt Smith, was first to speak (quite eloquently) and lamented that Harlem has the density of Atlanta but no world-class hotel, except the yet-to-be-complete Aloft Hotel, to represent the uptown neighborhoods. Mr. Smith also brought up the promise of union jobs; about two thirds of the room represented construction unions and a large contingent from a local hotel workers' union.

At the hour-long meeting, roughly a dozen community board members, local business reps and even a prominent broker from the area had three minutes each at the podium to address the public and the Economic Development Corporation (EDC). Every speaker pushed for the development to get approval, citing the importance of creating new jobs and keeping those jobs local (50% of the hotel jobs will directly go to the community as promised).

So what now? The EDC board will reconvene next Tuesday at 9:00 AM to announce their decision on whether to approve the $20 million in tax exempt bonds needed for this project to proceed. One speaker, who wanted to know more about wages associated with the large development, hinted at reported blanks on the application, but nobody else really brought up the incomplete parts of the paperwork. Should be quite interesting, so stay tuned. The location will also be the same, 110 Williams Street (at Fulton Street), 4th Floor, Room 4 A/B. Closest subways to get this location are the 2, 3 or the A,C.

Tuesday, November 9, 2010

☞ REVIVE: More Activity on Harlem Hyatt Site

There are no permits on the DOB files yet but additional drilling was seen at the site of the proposed Harlem Hyatt at Lenox and 125th Street this morning.  Reports went out last month that Emmitt Smith's  $80.6 million hotel was in jeopardy of losing government backing if the project doesn't break ground by the end of December: LINK.  There was some soil sample testing last August at the 100 West 125th Street site and today's excavations look like more of the same: LINK.  We are not overly optimistic about this one since the government has already started reviewing other projects to hand out the subsidies to but maybe Mr. Smith and crew can get the permits up and going in the next couple of weeks? Any tips out there?

Monday, June 13, 2011

☞ REVIVE: Harlem Hyatt Still a Possibility

The proposed Harlem Hyatt on 125th Street might have lost out on some government tax-exempt bonds since the developers failed to meet deadlines last year but the hotel seems to still be in the works. Brian Morris (the president of ESmith Legacy Inc.) will be speaking about the company's vision to the 125th Street Business Improvement District association at their annual meeting this month so expect some more news in the upcoming weeks. Interest in construction on the 125th Street corridor has started to pick up recently so this development might have a chance.  With that said, checking on the DOB website reveals that permits have not been filed at this point and the actual designs of the $80 million luxury hotel have still not been presented publicly.

Friday, June 11, 2010

☞ READ: Iconic Harlem YMCA Possibly For Sale

The Wall Street Journal reports that the 135th Street YMCA will possibly be sold as part of an effort to raise $313 million in funds to expand the organization and help restore existing branches. If the newly proposed Harlem Hyatt follows through as planned, the Harlem YMCA will relocate to the corner of 125th Street and Lenox. The article states:

"The 11-story brick building, where Jackie Robinson coached basketball and painter Jacob Lawrence held his first solo exhibition, remains an important part of history to many New Yorkers."

The next question on people's minds might be if the building gets sold, will they tear it down? The 135th Street YMCA is an official New York City landmark so maybe a new adaptive reuse condo might be in store for the future. Nothing is set in stone with the selling of properties so all this is just talk for now. Read more in the WSJ: LINK. Photo by Ulysses

Friday, April 30, 2010

☞ READ: Harlem Hyatt Planned at Lenox & 125th

The huge, garbage strewn lot on the corner of 125th Street and Lenox will possibly be home to a new Hyatt Hotel and Whole Foods at the ground floor. The Wall Street Journal reports on football star Emmitt Smith's ambitious plan alongside other developers to make the $80 million, 200 room luxury hotel and retail spaces happen. Other hotels have been unsuccessfully confirmed along 125th Street in the boom years so we will only know if this will really happen once the ground breaking starts on construction. Read more about the potential 125th Street development in the WSJ article: LINK.

Wednesday, June 6, 2012

☞ READ: Other News for 125th and Lenox Lot?

The Harlem Hyatt that was planned on the west corner lot at 125th and Lenox ran out of financing but the New York post now reports that a retail building with an established commercial anchor will be coming soon. A known retail developer has plans on a 5-story, 150,000-square-foot new construction at 100 West 125th Street and Burlington Coat Factory just signed a lease for the three top floors.  The article also brings up the rumored Harlem Whole Foods Market and that this development might just be the final location for the celebrated supermarket. A lease has been signed and a seasoned developer is attached to this project so this one might have a much better chance than some of the other failed developments along 125th.  If all goes according to plan, groundbreaking should start this fall: LINK