The Center for Urban Real Estate unveiled a proposal to connect Lower Manhattan and Governors Island with landfill to spur development in the area. The connection would generate $16.7 billion of revenue for the city, the center estimates.
LoLo, the proposed land bridge that the Center for Urban Real Estate expects will create 88 million square feet of development, has an impossible task of becoming a reality, writes Julie Satow for The New York Times.
The director of the center Vishaan Chakrabarti says that the project would require a lengthy environmental review and regulatory changes similar to the Hudson Yards development and No. 7 subway line extension. The two projects are costing billions of dollars and will take decades to complete.
"The center is proposing a 92-acre national historic district on the island, 3.9 million square feet for public buildings like schools and 270 acres of open space. The revenue generated by the development would also pay for the extension of the No. 1 and 6 subway lines to the new neighborhood and for a bridge from Red Hook in Brooklyn."
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