After many stalled attempts to revive Pier A, the city Economic Development Corporation announced Tuesday that the Battery Park City Authority will redevelop the site.
Brian Krapf, spokesperson for the Authority, confirmed details of the deal first reported by The New York Times. The authority will sell bonds to finance the $30-million project, which will include shops and restaurants. The National Park Service may use the pier as a launching point for ferries to Ellis Island and the Statue of Liberty.
The redeveloped pier will be complete in three to five years.
“The Battery Park City Authority, with its unparalleled record of success developing its property downtown, is the ideal group to complete this project and ensure Pier A recaptures its former glory,” Gov. Elliot Spitzer said in a statement.
Pier A, a three-story facility of 30,000 square feet built in 1886, was originally slated to be part of Battery Park City when the authority was created in 1968. The authority will pay only a dollar a year for a long term lease for the pier, which will stay in E.D.C.’s ownership.
The most recent Pier A plan involved Wings Point Development Corporation, which leased it in 1997. After making little progress, Wings Point turned the site back to the city for about $8 million.
— Julie Shapiro
