New York City, which is currently grappling with the fallout from Hurricane Sandy, is working on a new kind of urban development.
It is calling for a massive urban renewal project that will eventually include the demolition of entire neighborhoods.
The city’s Urban Renewal Authority (URA), which oversees the development of the city’s parks and public spaces, announced on Wednesday that it has selected a developer to build a $100 million, 150-acre site near the New York Botanical Garden for a redevelopment.
The developer will begin the construction phase this summer and be finished by the end of 2020.
The project will be the biggest and most ambitious urban renewal effort in New York since the city was formed in 1913.
The URAs first urban renewal program began in 2012 with the demolition and reconstruction of the historic Lower East Side neighborhood of Brownsville.
The project involved building a community park and revitalizing the area, but it took years for the new community to grow to its current size.
The site selected for the project will eventually be used for a park, a public park, and a community garden.
Urban renewal is an important part of New York’s rebirth efforts, but the plan to redevelop the area is an ambitious one.
The city has invested millions of dollars to revitalize the area since its creation, but there is still much work to be done, according to the URAs website.
“It is a huge project, but what we’re trying to do is make sure that we have a community-oriented redevelopment,” URAs Chief Executive Officer Paul Guggenheim said.
“We want to make sure it is a place that is open to people who are coming to the city to live and work, not just to live in a park.”
Urban renewal, which has long been associated with projects that help revitalize urban environments, is a concept that has gained prominence in recent years as New York has experienced rapid population growth.
In the United States, urban renewal has been the focus of a wide variety of projects, including new neighborhoods, new parks, and new transit.
The idea is to create an environment that promotes the spread of economic activity and encourages people to move out of the suburbs.
The goal is to help revitalise neighborhoods that are struggling to recover from the Great Recession.
While there have been a few recent examples of such initiatives, such as the New Jersey city of Newark, New Jersey, where a $2 billion redevelopment is under way, most urban renewal projects are smaller in scope.
This is in part because the URAS has the authority to carry out these projects.
The URAs program is not the first time it has chosen a site for a major urban renewal.
In 2010, the city of Atlanta chose the site for its first-ever public park after a $3.4 billion project.
That project, which included a community theater, was completed in 2020.
The original plan was to build an underground parking garage, but that was later scrapped, as was the original plan to build housing in the area.