Halstead Property

Return to Halstead Property Homepage

Recent Press

More

For questions regarding press and public relations please contact us.

212-396-8217

Mentioned in this Article:
Stephen G. Kliegerman

Stephen G. Kliegerman
President of Development Marketing

Fox News

High Line Park Expands

By LAUREN SIMONETTI

MYFOXNY.COM - New York City's popular High Line part has doubled in size. The urban park -- perched above these noisy Manhattan streets -- invites busy, bustling New Yorkers to slow down and chill out.

Four million people have walked Phase One of the High Line, which goes from Gansevoort to 20th Street and 10th Avenue, according to city officials. The park is built on an old elevated railroad track.

"The High Line is already a world-renowned destination and New York City icon, and with the addition of Section Two, it makes for an even more enjoyable experience," said Mayor Michael Bloomberg. "The second half-mile adds different views and new features, making it distinct from the first section but no less remarkable."

Some cool new features in this hot weather on the High Line include benches to take the sun in and more patches of grass where you can sit, relax, take a nap.

"I work long hours and you come over here and you forget you're in the city," said Christy Miller, a local resident.

The High Line is a public park that takes in a lot of private money.

"We invested more than $112 million in transforming the High Line into the world's most innovative public park," Bloomberg said. "That public investment has been a magnet for private sector investment which has led us to a dynamic mix of new residences, hotels, and galleries."

Robert Hammond, the co-founder of Friends of the High Line, said that the park has been a boon for business.

"As one restaurant owner told me that the day the High Line opened was the day the recession ended for them," Hammond said.

In a city with an 8.6 percent unemployment rate, the High Line helped create thousands of jobs.

After the rezoning was approved and construction of the High Line began in 2006, new building permits in the immediate vicinity of the High Line doubled and at least 29 major development projects have been initiated, according to the mayor's office. Those 29 projects account for more than $2 billion in private investment, 12,000 jobs, 2,558 new residential units, 1,000 hotel rooms, more than 423,000 square feet of new office space and 85,000 square feet of new art gallery space, according to statistics supplied by the Bloomberg administration.

"When the area started to develop, rents in the area were somewhere in the $45 to $50 a square foot range," said Stephen Kliegerman, of Halstead Property Development. "Now we're seeing rents trend towards the $60 per square foot range."

Tuesday, June 07, 2011