New York action plan backs P3 for old office space

New York Governor Kathy Hochul and New York City Mayor Eric Adams have jointly launched a new action plan for the city that includes the potential for P3 development.

Credit: Getty

The ‘New New York: Making New York Work For Everyone’ action plan includes a number of measures designed to improve the city, including using P3s to redevelop office space currently used by city authorities.

According to the plan, the city will work to leverage city agency office space to develop new facilities across New York.

The Department of Citywide Administrative Services (DCAS) owns and manages 55 buildings that are primarily occupied by city agencies, and it will work to relocate certain bodies from outdated facilities.

“Relocation will then create an opportunity through public-private partnership to redevelop or convert the existing assets to meet policy goals, such as increasing affordable housing and creating more mixed-used neighborhoods,” the plan said.

“This plan lays out a clear vision for coordinated city, state, nonprofit, and private sector action to re-energize the areas still struggling from the pandemic and supercharge those with new momentum,” said Adams.