As State President, Phillips will oversee the council’s activities within New York State and act as a liaison between the regional vice president, the council’s leadership team, and its staff.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
First-of-its-kind life sciences career and education hub revealed as part of the SPARC Kips Bay Master Plan, with a new economic impact analysis with the potential to create 15,000 jobs.
NEW YORK—New York City Mayor Eric Adams, New York Gov. Kathy Hochul, the New York City Economic Development Corporation and The City University of New York unveiled on Nov. 17 the Science Park and Research Campus (SPARC) Kips Bay Master Plan for what city officials say will be a first-of-its-kind life sciences career and education hub that will anchor the industry in New York.
Arriving over one year since SPARC Kips Bay was announced, the master plan unveils key project details, including a new site plan and conceptual design, a new model for education and job training pipelines, and updated economic impact projections showing how significantly it will further New York City’s role as a global leader in creating and attracting accessible jobs in life sciences, health care, and public health by creating a pipeline from local public schools to careers in these essential sectors. The project is expected to create more than 15,000 total jobs and generate $42 billion in economic impact.
In addition to the master plan, the Adams administration launched a new community task force led by NYCEDC to shape and steer the project’s vision and released request for proposals (RFP) for design of key public space, community infrastructure, and a pedestrian bridge for the project’s first phase.
“It’s no secret that New York City has the most talented workers, and the SPARC Kips Bay campus will continue this legacy by creating more than 12,000 jobs right here in Manhattan,” said Mayor Adams. “This campus will be a bridge to the next generation, preparing New York City students of today for the jobs of tomorrow in a rapidly growing sector with higher education opportunities through our academic partners at CUNY and internships at every level. This project will help us create a healthier, more prosperous city through true community engagement and public-private partnership.”
“The SPARC Kips Bay Master Plan is New York’s road map to establishing a hub for innovation, job growth, and education in the life sciences right in the heart of Manhattan,” said Governor Hochul. “With a projected 15,000 jobs and $42 billion in economic impact over the next 30 years, SPARC Kips Bay will help to build on statewide efforts like New York’s transformative Life Science Initiative to grow 21st-century businesses and jobs and ensure that the future of medicine starts in New York.”
With new details and projections released in the master plan, SPARC Kips Bay is now expected to create 12,000 construction and 3,100 permanent jobs in the life sciences sector; and transform an entire city block with up to 2 million square feet of academic, public health, and life sciences space, advancing the LifeSci NYC goal of 10 million square feet of life sciences space by 2030.
SPARC Kips Bay is expected to enter into the city’s Uniform Land Use and Review Procedure in spring 2024, break ground in late 2025, and be completed by the end of 2031.
SPARC Kips Bay complements New York State’s $620 million Life Science Initiative, designed to spur the growth of a world-class life science research cluster in New York, as well as expand the state's ability to commercialize this research and grow the economy. This multifaceted initiative includes $320 million for strategic programs that attract new life science technologies to the state, promote critical public and private sector investment in emerging life science fields and create and expand life science-related businesses and employment throughout New York.
First Phase of Design RFP: NYCEDC is releasing an RFP to procure a designer for the first phase of the project, including modern facilities for CUNY and DOE and long-overdue community infrastructure—notably one acre of new open space and improved public realm investment, neighborhood resiliency, and a new universally accessible pedestrian bridge at East 25th Street.
Tech Forward Life Sciences Center: NYCEDC is releasing a request for expressions of interest in Q1 2024 to solicit interest from academic, research, and newly formed consortia to establish a Tech Forward Life Sciences Center at SPARC Kips Bay.
SPARC Kips Bay will be anchored by new, modern facilities for students from the Hunter College School of Nursing and School of Health Professions, the CUNY Graduate School of Public Health and Health Policy, and the Borough of Manhattan Community College’s multiple health care programs.
The hub will also feature:
As State President, Phillips will oversee the council’s activities within New York State and act as a liaison between the regional vice president, the council’s leadership team, and its staff.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
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