Former Con Edison Waterside Property
The New York State Public Service Commission mandated the disinvestment of many of Con Edison’s assets. These include four sites along First Avenue between 35th and 41st Streets that collectively amount to 8.9 acres. These properties have been demolished and the developer has begun excavating for an anticipated commercial and residential complex. Development along this corridor continues to have a major impact on the community.
During the 2008 fiscal year, the East River Realty Corporation’s development plans for the Con Edison Waterside properties were approved by City Council. This plan superseded Community Board 6’s 197-c application. The Board is prepared to vigilantly monitor the development to assure that it conforms to all agreements. While the plan provides public space within the site, it does not provide relief for the serious lack of public space that exists within the broader community district.
East River Realty Co., LLC is currently developing plans and preparing a final Environmental Impact Statement for the former Con Edison Waterside Generating Station, a site which consists of 708, 685 and 616 First Avenue, between 35th and 41st Street. This development will be one of the largest projects in New York City’s history. The Board is monitoring the development with the goal of seeing as much of the suggestions in its 197a-Plan reflected in the final project as possible.