Could AECOM actually pull off its plan to transform Red Hook? Proposal calls for a $3.5B subway improvements
Chris Ward and a rendering of Red Hook waterfront redevelopment (credit: AECOM)
Many great real estate projects start out as abstracts — but whether or not AECOM s vision to transform Red Hook s waterfront has legs hinges on several crucial details.
The company on Tuesday unveiled a proposal to build up to 45 million square feet of residential space in Red Hook, a plan that would add as many as 45,000 new apartments, 25 percent of them affordable. As part of the proposal, the company also suggested extending the No. 1 train into Brooklyn and adding three subway stops, an undertaking that it estimates will cost $3.5 billion.
Chris Ward, chief executive of AECOM s Metro New York, is the first to admit the vision is extremely preliminary. During a panel Tuesday organized by the New York University s Rudin Center for Transportation, Ward repeatedly stressed that the company s study of the area was in no way a plan, but rather a framework designed to inspire conversation. The next step is for AECOM to take the proposal to residents.
It really is for the community to embrace, Ward said. If not, it ll just be a series of ideas that won t get realized.
Other factors also potentially stand in the way. For one, the Port Authority of New York and New Jersey would need to allow its 80-acre Red Hook Container Terminal to be used for the development. The agency has floated shutting down the terminal as part of its efforts to shed its non-core real estate assets, but has not yet embraced AECOM s vision. A spokesperson for the agency said they were currently reviewing the proposal.
AECOM would likely also need the blessings of the Metropolitan Transportation Authority and City Hall. Ward said both are currently focused on their own projects.
Sounds like this is in the very preliminary stages of an idea, Kevin Ortiz, a spokesperson for the MTA, said in an email on AECOM s proposal. We look forward to hearing more about it, especially details regarding funding.
Representatives for City Hall did not immediately respond to messages seeking additional information.
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