Hudson River Park Trust and Young Woo & Associates Announce Unanimous City Council Approval of the Proposed Redevelopment of Historic Pier 57

Apr 10, 2013, 06:00 ET from Young Woo & Associates

NEW YORK, April 10, 2013 /PRNewswire/ -- Young Woo & Associates and Hudson River Park Trust (HRPT) are pleased to announce that the New York City Council approved the restoration and redevelopment of New York's historic Pier 57, marking the completion of the Uniform Land Use Review Procedure (ULURP) process and marking a pivotal milestone in the realization of the project.

In 2009, Youngwoo was designated as the developer of Pier 57, which is located within Hudson River Park at the West Side Highway and 15th Street, following a competitive RFP process led by HRPT. YWA designed a dynamic plan to transform Pier 57 into a cultural hub and creative center, integrating the arts, fashion, design, film, food and other innovative attractions into a unique retail environment. In addition to more than 100,000 square feet of new public park space on the rooftop and ground floor adjacent to the pier, one of the project's key elements includes using repurposed shipping containers as pop-up shops and concept stores, or "Incuboxes," to activate this interactive marketplace. The developer has begun accepting applications to lease the flagship retail spaces; leasing for the 160 SF "Incuboxes" will commence in the Fall.

"The Pier 57 redevelopment plan is a major victory for Manhattan's west side community," said Speaker Quinn. "I want to thank the HRPT and YWA for engaging and working with the community and all stakeholders so that the final proposal best fit the needs of the community."

"The approval brings us one step closer to transforming Pier 57 into a recreational, cultural and retail center for the Hudson River Park community," said HRPT President and CEO Madelyn Wils. "This was a truly collaborative effort and would not have been possible without the developer's own creative vision. We thank Community Board 4, Borough President Stringer, the City Planning Commission, Speaker Quinn and the City Council for recognizing the importance of bringing this historic pier back to life."

"The Pier will include sorely needed open spaces for Park visitors and will result in much needed revenue to help operate and maintain the Park to the high standards we have come to expect," said HRPT Chairperson Diana Taylor.

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SOURCE Young Woo & Associates