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20150713-NEWS--0001-NAT-CCI-CN_-- 7/10/2015 6:57 PM Page 1 VERIZON CALLED OUT City Hall takes NYC’s largest public company to task CRAIN’S® PAGE 6 NEW YORK BUSINESS VOL. XXXI, NOS. 28, 29 WWW.CRAINSNEWYORK.COM DOUBLE ISSUE JULY 13-26, 2015 PRICE: $3.00 Inside the Ark at JFK Developers of New York’s newest ‘terminal’ hope to make hay off America’s passion for pets BY AARON ELSTEIN Cliff Bollmann is one of the world’s leading airport architects. He designed the spiffy JetBlue terminal at John F. Kennedy International Airport and worked on others in San Francisco, Boston and Chennai, India. He knows exactly how far bathrooms can be situated from gates so passengers don’t miss the last call for their flight. But this international-airport expert is a bit befuddled by the plumbing involved in his current assignment: designing a terminal at JFK called the Ark, dedicated to serving pets, livestock and zoo animals. For Mr. Bollmann, the crucial question is: How to handle all the poop? 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I7197 Project Title: New York Crains Team Proof Approval Job Number New York Crains Inks Side 1 CMYK Full Size (W” X H”) Reduced Size (W” X H”) (Initial and Date) Job Type Ad Inks Side 2 n/a Scale 1” 1” Art Director None Project New York Crains Finishing None Resolution 300 dpi 300 dpi Copywriter None Version Code None Template None Bleed 11.125” x 14.75” 11.125” x 14.75” Studio None 125 E. Broad St. Greenville, SC 29601 Pages/Panels 1 of 1 Paper Stock MG Trim 10.875” x 14.5” 10.875” x 14.5” Prod. Mgr. None P: 864.271.0500 | F: 864.235.5941 622 Third Ave, New York, NY 10017 Hardware or Component None Safety 10.25” x 14” 10.25” x 14” Acct. Exec. None P: 212.905.7000 | F: 212.370.0781 Equipment None Finished Identifier None 10.875” x 14.5” Size Comments: PDFx1a with bleed. Include marks, slug. Inks: Cyan, Magenta, Yellow, Black Fonts: Apex Sans, Verizon Apex, Myriad Pro Images: RM_BC_VZ_logotab_p.ai, RM_ML_MT_Droid_Turbo_BN_Blk_64GB_FceRgt-Jly27-R6in-MG.psd (304 ppi), RM_AlcatelLucent_collaboration_CMYK.ai, vz_exclusive_p.ai, droidturbo_ver_moto_k.eps 20150713-NEWS--0003-NAT-CCI-CN_-- 7/10/2015 6:51 PM Page 1 EXECUTIVE EDITOR’S NOTE FYICRAINSNEWYORK.COM Paying for parks Should there be private A $300 million bet development in public parks? It’s a citywide question—one that has on a long-delayed particular urgency on the Brooklyn tunnel project waterfront.There, the Brooklyn Bridge Park Corp. has transformed proposed train tunnel linking a 1.3-mile stretch along the East New York and New Jersey, River into one of the most vibrant Jeremy Smerd Aseen by experts as crucial to destinations in the city. But the relieving the bottleneck under the park is at a crossroads. It wants to Hudson River, is on track and gaining sell the right to build luxury condos and a mixed- momentum. ¶ “We’re doing it,” income rental building on Pier 6. Without a $100 Amtrak Chairman Anthony Coscia told million-plus sale, it says it won’t have enough money the Crain’s editorial board Wednesday. to maintain the park, especially the timber pilings ¶ Mr. Coscia said Amtrak could begin that, like those at Hudson River Park, are susceptible the environmental-review process this to rot. Some who object to the plan don’t want their fall, and has already spent about $300 view interrupted; others believe public space should million on preparatory work and land newscom not be carved out for those who can most afford it. acquisition, even though the estimated $15 billion needed for the larger Gateway project, which The Empire State Development Corp. will decide includes the tunnel, has not been lined up. (See Editorial, Page 8.) ¶ “We’re taking precious the issue this fall. In the meantime, a hearing at the resources and spending it on a project we don’t have all the money to build,” he said. “It’s either a end of this month will further air people’s grievances. very silly decision or a very critical one.” ¶ He’s betting on the latter. By his reckoning, a tunnel “Open space, once it’s gone, is gone forever, and once has to be built.The two heavy-rail tunnels connecting New Jersey and New York are more than it’s protected, it’s protected forever,” said state Sen. 100 years old and are showing their age. ¶ Twenty-four trains pass through the tunnels each Daniel Squadron, who opposes the towers. Nothing, hour—20 from New Jersey Transit, four from Amtrak—and officials predict that within 20 years, of course, is forever, especially if the park falls into one or both tunnels will need to be closed for repairs. Shutting one would reduce capacity to six disrepair. But the sentiment speaks to the scarcity of trains per hour, because trains traveling in opposite directions would need to wait for the lone open space in our city and the will that can be remaining tunnel to clear. —andrew j. hawkins summoned to protect it.The question is whether there’s a way that doesn’t include housing. I wish I GLITCH ROCKS STOCKS on the verge of handing their recom- governor for obstructing the city’s could see it. When I went over the numbers with The New York Stock Exchange sus- mendations to the de Blasio admin- agenda in Albany this year, Mr. Cuo- David Lowin, vice president of real estate for the pended trading July 8 for nearly four istration.The rezoning calls for taller mo promised to “bite his tongue,” hours because of a botched software towers, improved transit access and though he sought to mansplain to the park, I was struck by the fact that the cash needed to update, not a cyberattack as origi- wider sidewalks. De- mayor the way Al- keep it in good repair will not be financed by debt, as nally feared. Nonetheless, stock velopers who want to bany works. Mean- most capital projects are.That’s because the park prices dropped, mostly because of build higher will have ‘Once you while, Mr. de Blasio China’s market plunge and the crisis to invest in transit. said he “speaks truth does not generate enough revenue to service the in Greece. The NYSE glitch coin- open as I see it” and vowed amount of debt it would need for park upkeep. Why? cided with outages at both United GROCERY GLUT Pandora’s box, to continue to call out Tax breaks given to residential and commercial Airlines and The Wall Street Journal. Trader Joe’s is open- Albany. developers. What the park needs is legislation that The incidents were found to be un- ing an 18,000- it can really related. square-foot store in become out of MAYORAL VANITY would allow it to collect more revenue from existing Williamsburg—its Vanity Fair magazine tenants. Without that—or a generous benefactor— MIDTOWN EAST REZONING second in Brooklyn. control’ will publish a profile development appears inevitable. Stakeholders who have worked in se- The popular chain —Deputy Mayor Alicia of Mr. de Blasio, cret for months to develop a plan to will be the latest Glen to The Wall Street written by Bryan revitalize the aging office district are big-brand grocery in Journal, about refusing to Burrough, the criti- the neighborhood. change city policy on cally acclaimed au- THIS WEEK IN CRAIN’S Whole Foods and subsidies to keep JPMorgan thor and magazine Wegmans also will from moving jobs scribe. Mr. Bur- IN THE BOROUGHS-------------------------- 4 debut in the area. to New Jersey rough, who co-wrote IN THE MARKETS----------------------------------5 the seminal inves- THE DONALD TRUMPS REPUBLICANS tigative work Barbarians at the THE INSIDER -----------------------------------------------6 Donald Trump, the brash business- Gate—about the leveraged buyout of OPINION-------------------------------------------------------------8 man and reality-show star, surged to RJR Nabisco—reached out to the the front of the GOP presidential mayor’s press office about the profile, GREG DAVID ------------------------------------------------9 pack, according to two polls.

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