P3 eyed for New York regen plan

A P3 agreement is being earmarked for the future development of a science and health campus by the City University of New York (CUNY).

Credit: CUNY

The Science Park and Research Campus (SPARC) Kips Bay masterplan has been unveiled by CUNY alongside Governor Kathy Hochul, New York City Mayor Eric Adams, and the New York City Economic Development Corporation (NYCEDC).

As part of the masterplan, NYCEDC will release a request for expressions of interest in early 2024 “to inform and build on the programmatic vision for this historic investment and help shape a future procurement for the western half of the site”.

Following this exercise, NYCEDC will “procure a private developer following completion of the Uniform Land Use Review Procedure (ULURP) to deliver the life sciences development and colocated permanent facilities”.

“This project will help us create a healthier, more prosperous city through true community engagement and public-private partnership,” said Adams.

“The SPARC Kips Bay masterplan is New York’s road map to establishing a hub for innovation, job growth, and education in the life sciences right in the heart of Manhattan,” added Hochul.