New York Real Estate

2 / Venable Development and Public-Private Partnerships The New York Real Estate Group is experienced in all aspects of real estate development, including transaction structuring, public and private funding and financing, complex utility and easement issues, land and development rights (FAR), acquisition and disposition, government approvals, and other regulatory issues. We are skilled in resolving the conflicting legal and business concerns of public and private sector entities. Our attorneys’ deep knowledge of New York State and New York City government enables us to facilitate the process of securing government approvals and funding. We assist clients in complying with procurement and other requirements associated with government-sponsored projects, including minority- and women-owned business enterprises (M/WBE), living wage requirements, and prevailing wage requirements. Our comprehensive practice allows us to advise clients on the range of real estate, construction, land use, environmental, and other matters that can arise; document and negotiate lease agreements, development agreements, and financing transactions; and manage land use and environmental reviews (including SEQRA/CEQR), among others. Venable is widely recognized for its representation of governmental and quasi-governmental entities and private parties undertaking government-sponsored or public infrastructure real estate projects. These projects often include the structuring and negotiation of public-private partnerships and crafting of interagency and intergovernmental agreements. Case Study: Lower Manhattan Development Corporation Venable attorneys have represented the Lower Manhattan Development Corporation (LMDC) since shortly after 9/11, as land use/regulatory, construction, and real estate counsel for the redevelopment of the World Trade Center and other projects in Lower Manhattan funded by federal grants through the U.S. Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) program. Venable advises on the State Urban Development Corporation Act and Public Authorities Law, and on LMDC Board and other requirements for the planning and implementation of the World Trade Center Memorial and Redevelopment Plan, including land use review, environmental review, appraisals, public hearings, use of federal funds, and negotiation of contracts with government and private stakeholders. We represented LMDC in the acquisition and disposition of properties south of the original WTC site integral to the redevelopment, including imposition of use restrictions arising from the LMDC general project plan and obtaining a HUD waiver of CDBG program requirements. We have negotiated construction access agreements, project agreements, subrecipient funding agreements, restrictive declarations, and construction easements. We handled the transfer of City street interests among LMDC, the City of New York, and the Port Authority of New York and New Jersey necessary to conform ownership of the new configuration of streets and development sites under the World Trade Center redevelopment plan, including negotiation of terms, confirmation of parcels, obtaining regulatory and board approvals, working with condemnation counsel on the acquisition of mapped street parcels, and closing the transactions. We negotiated the contract for deconstruction of the contaminated 130 Liberty Street building, which was severely damaged on 9/11. The contract terms were later successfully upheld in construction claims litigation. We also assisted LMDC with environmental review, contracting, and regulatory compliance on grants for projects in Lower Manhattan, ranging from public park improvements to nonprofit community and cultural projects, including grants for the World Trade Center Memorial and Museum and the Performing Arts Center at the World Trade Center. We helped LMDC prepare the request for proposals for development of the last tower site (Site 5) and will assist with negotiations with prospective developers, the regulatory review process, and closing of the transaction – helping to conclude the role of LMDC at the World Trade Center nearly 20 years after the terrorist attacks. • The Brooklyn Navy Yard Development Corporation in the negotiation of the Admiral’s Row development. The transaction involved the leasing of over six acres of the Brooklyn Navy Yard to a developer for the construction of light industrial, office, supermarket, community facility, and retail improvements, including development covenants and expansion options. • Amtrak in connection with the construction of the Gateway Project in New York, which includes the construction of a new rail tunnel on the West Side of Manhattan, running from New York’s Penn Station to New Jersey. This highly complex project involves the drafting and negotiation of construction agreements, including the design/build construction contract for the initial phase of the project, as well as easement agreements, development agreements, and other agreements with public and private owners and stakeholders, including The Related Companies (developer of the 6 million square foot mixed-use Hudson Yards project above the tunnel), MTA/Long Island Railroad, and other property owners. The transaction involves federal, state, and city approvals, and government funding. • A New York City university in connection with a partnership for the redevelopment and operation of university facilities, including the negotiation of a long-term net lease with development and operating covenants, and the formation of a commercial condominium. • Sims Municipal Recycling in the negotiation of a 20- year lease of a City-owned pier in Brooklyn for the construction and operation of a recycling facility, including negotiating New York City Economic Development Corporation funding for the project. • Jazz at Lincoln Center in the $200 million design and construction of the jazz facility in the Time Warner Center on Columbus Circle, located and funded through a public-private partnership that included a $34 million grant from New York City. This project also involved negotiation of a mixed-use condominium and resolution of matters related to fire and water damage to adjacent units during construction. Our experience includes the representation of clients in the following major New York projects: • Amtrak in the redevelopment of the Farley Post Office in New York City as the new Moynihan Station. This project involves real estate, land use, and environmental issues; multiple sources of government funding; negotiation of construction agreements and a development agreement for design-build construction; formation of a commercial condominium; and negotiation of property management arrangements. • The Studio Museum in Harlem in the design, construction, and financing of a new 80,000 square foot, $175 million museum on West 125th Street. The project involved a design and approvals process; real estate transactions with the City of New York; bridge financing; new markets tax credit financing and a related sublease structure; state attorney general, Department of Education, and State Court approvals; City Public Design Commission and Community Board review; CEQR environmental review; design and construction contracting; and local and M/WBE contracting, among other matters. • New York City Economic Development Corporation (NYCEDC) in the remediation, redevelopment, and ground leasing of portions of the Willets Point neighborhood in Queens, New York. Our representation in this matter includes the negotiation of development agreements and long-term leases, and advice in connection with environmental remediation and the construction of water and sewer mains, roads, and other infrastructure.