AFFORDABLE HOUSING $$$; WTC OCULUS; SECRET PIER 40 DEAL NIXED 

"Affordable housing push to benefit few builders," The Real Deal, 6/9/14. In an opinion article in The Real Deal, Battery Park City Authority Board of Directors member Donald Capoccia was mentioned as one of the few builders in the city well positioned to benefit from the billions that will be spent to erect affordable housing. Capoccia heads BFC Partners. "Housing experts say the billions planned to be spent on affordable housing in New York City over the course of 10 years may not trickle down to many builders," says The Real Deal. "Only about 20 builders have the experience and capacity to secure city, state and federal funding and meet deadlines for Mayor Bill de Blasio's ambitious affordable housing goals, housing experts told Crain's. On one end of the spectrum are large builders like L+M Development Group, BFC Partners and Phipps Houses. On the other are smaller firms such as Dunn Development and Bluestone Group. Despite being identified as the best firms for the job, even they face significant hurdles, according to Crain's." For the complete article, click here.  

"Westfield's Oculus at WTC moving closer to full occupancy," The Real Deal, 6/9/14. "Westfield Group said roughly 80 percent of the 150 retail brands set to fill an underground mall at the World Trade Center have either signed leases or are close to finalizing deals," says The Real Deal. "Big-name brands such as shoe-centric Stuart Weitzman and British men's clothier Turnbull & Asser have inked leases at the two-level shopping gallery, known as the Oculus. Meanwhile, several retailers are in advanced negotiations with Westfield. Those include Apple, Bobbi Brown, Kate Spade New York and Michael Kors Holdings Ltd. French fashion brands The Kooples and Zadig & Voltaire, and Swedish designer Acne Studios were set to take space there, as The Real Deal reported in April." For the complete article, click here.  

"Secret Pier 40 air rights transfer deal falls apart," The Real Deal, 6/9/14. Several elected officials said they were "shocked" to learn of a secret air rights deal affecting Pier 40 at Houston St. The Real Deal now reports that, "A memorandum of understanding outlining a controversial deal to transfer unused air rights from the Hudson River Park's Pier 40 to a proposed four-story terminal building at 550 Washington Street isn't going to happen. Attorney Arthur Schwartz, who told the Villager last week that he was mulling a possible lawsuit to block the proposed air rights transfer on the grounds that an environmental impact study should be performed, told the news site that Madelyn Wils, president of the Hudson River Park Trust, 'confirmed that the M.O.U. is dead.' The M.O.U. between the Hudson River Park, the Empire State Development Corporation and Atlas Capital Group, was reportedly signed six months ago, as the New York Times revealed at the time. Local elected officials have since written to Kenneth Adams, president and CEO of the ESDC requesting a copy. Despite the request and plans to file a Freedom of Information Act request to obtain a copy, the agreement still has not been seen publicly. The plan reportedly called for the demolition of the three-block-long, four-story building at 550 Washington Street, and for a replacement structure to be rebuilt in phases with a mix of residential and commercial units." For the complete article, click here.