RUMOR: “iStar has to put ‘something’ in the ground in order to keep the permits valid”

This past week we saw a large fence go up around the superblock along with no parking signs. Of course that gets us residents wondering: Did IDA say yes? Is construction starting soon?

This is the rumor that I’m hearing which seems to have some merit: “Due to a clause, iStar has to put something in the ground in order to keep the permits valid.” 

This is a blog, so please take this info with a grain of salt.

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12 thoughts on “RUMOR: “iStar has to put ‘something’ in the ground in order to keep the permits valid””

  1. I also heard they are doing this bc they are unhappy about the opposition the project is getting so they are sticking it to the residents by preventing people from parking (as they could have put ‘stakes in the ground’ without blocking the whole lot.) Of course this could be a rumor….but why try to annoy locals before a decision has been made? As a sign of good faith they should clean up the filthy lot – locked or not. show they care about the city.

  2. Are they caught in a catch 22? If the clause exists, they need to begin construction. But if they begin construction, they invalidate their claim to the IDA that the project can’t move forward without the tax abatement. Hmmmmmm

  3. Was just talking about that this morning, but it’s on the boardwalk. I don’t remember them closing the entire superblock off for parking for that event. Do they?

    It’s just such a coincidence to see those no parking signs right after the fence was installed.

  4. The block has always been used for parking vendors’ cars and trucks for the Arts & Crafts fair, then the remaining part was used for public parking.

    Seems like the C of C Fair will have to find a new place to suck money. They were on the part of Shore Road that was given to the developer and is now closed. How ’bout Far Rockaway?

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