Page 14 - The Indian EYE 121925

North The Indian Eye

AMERICANNewsline

14 DECEMBER 19, 2025
Mayor Adams Announces Next Steps

for Thousands of New Homes,

Older Adult Center at 100 Gold Street

Part of Mayor Adams Historic Executive Order to Build New Homes on City-Owned Sites

OUR BUREAU urgently needs, and pursue our mis-
sion with renewed focus.” + :
NEW YORK, NY
“Transforming outdated city-
ew York City Mayor Eric owned sites into mixed-income hous-
Adams has announced the ing is at the core of NYCEDC’s mis-
Nnext steps in the transforma- sion, and bold projects like 100 Gold
tion of a city-owned site at 100 Gold are critical to tackling New York
Street in Lower Manhattan into a City’s ongoing affordability crisis,”
new, mixed-income residential build- said New York City Economic De-
ing. The city has selected GFP Real velopment Corporation (NYCEDC)
Estate to build approximately 3,700 President and CEO Andrew Kim-
units of high-quality, mixed-income ball. “The historic redevelopment
housing, with a minimum of 25 per- will deliver thousands of high-quali-
cent of the homes required to be ty, mixed-income housing units and
permanently affordable as more than public amenities for New Yorkers,
900 units of affordable housing are and NYCEDC is proud to partner
created without any subsidy from the with GFP Real Estate to bring this
New York City Department of Hous- extraordinary vision to life in Lower
ing Preservation and Development Manhattan.”+ :
(HPD). Additionally, proceeds from GFP Real Estate is a proven
the disposition of the city-owned site Manhattan, our administration is our affordable housing mission”+ : family-owned real estate firm with
will be used to acquire new office using every piece of land we have “For decades, 100 Gold Street over 70 years of experience in New
space for HPD and other agencies to build the housing we need,” said has been the physical nerve center York City. Their development expe-
that currently occupy 100 Gold. GFP Mayor Adams. “With today’s an- of our work to expand affordable rience positions them as a key driver
Real Estate will also build and main- nouncement, we’ll give thousands of housing across the city. Transforming of the Financial District’s shift from
tain approximately 40,000 square feet families an affordable place to live, our headquarters into new homes at a traditional office hub to a vibrant
of new public open space as well as a thousands of city employees new the scale made possible under this mixed-use neighborhood, includ-
new state-of-the-art, publicly-accessi- high-quality office space, and all New proposal is a bold expression of that ing 25 Water Street, the largest of-
ble fitness center inside the building. Yorkers new public space and ameni- mission. A building that has support- fice-to-residential conversion in the
Finally, the development will include ties to enjoy. Whether it’s passing the ed the people fighting for afford- country. GFP is also a leading devel-
an upgraded older adult center for most pro-housing legislation in city ability will soon provide real homes oper of housing in the Financial Dis-
the community. After Mayor Adams history, creating record amounts of for the New Yorkers we serve,” said trict, with nearly 2,500 units complet-
issued a historic executive order last affordable housing, or issuing a his- HPD Acting Commissioner Ahmed ed or under development, including
year requiring city agencies to review toric executive order to turn city land Tigani. “With a dynamic and highly more than 620 designated as perma-
their portfolios and identify potential into new homes, we are proud to be skilled team leading this commer- nently affordable.+ :
sites for new housing, the New York the most pro-housing administration cial-to-residential conversion, we The current building — which
City Economic Development Corpo- in city history, and our record reflects are leveraging our newly established was constructed in the 1960s and re-
ration (NYCEDC) led a competitive exactly that.” + : land use tools and proven expertise quires significant investments — cur-
request for proposals (RFP) process “100 Gold is exactly the kind of to reimagine office space as a vibrant, rently houses the Hamilton-Madison
to identify a developer for 100 Gold. bold step New York needs to meet mixed-use community. This project House older adult center. The pro-
Along with proposals to build thou- the moment on housing,” said Depu- unlocks the full potential of the site, posed development will include a new,
sands of new homes on city-owned ty Mayor for Housing, Economic De- maximizes its transit-oriented devel- purpose-built facility for the older
sites like Flushing Airfield, Gan- velopment, and Workforce Adolfo opment advantages, and welcomes adult center on site, reflecting feed-
sevoort Square, 390 Kent Avenue, Carrión, Jr. “With GFP Real Estate new individuals and families into a back from months-long community
and more, today’s announcement on board, we are creating thousands neighborhood rich with amenities. outreach and engagement, that will
will help the Adams administration of homes, expanding affordability, By rethinking how we plan for city deliver a substantial improvement in
create, preserve, or plan over 433,000 and delivering new community ame- offices and applying every tool for space, accessibility, and overall expe-
homes for New Yorkers.+ : nities. And as this work advances, thoughtful development, HPD is rience. During construction, a tem-
“From an abandoned airfield in the city will secure a modern home strengthening its ability to serve New porary facility will be provided near-
Queens to an old office building in for HPD, the dedicated-team driving Yorkers, deliver the housing this city by to ensure no disruption in service.

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