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vOLUME 26, NUMbER 20 MARcH 13-MARcH 26 2014 HEAt biLLS At gAtEWAY P. 3 wIth condo ProJect BacK on tracK, so Is aFFordaBLe hoUsInG MoneY... eVentUaLLY health issue that put him out of commission for a while. “I’m recovered,” he said. “I’ve 98% of my strength back. I feel like I’m 55 or 60 years old. I think I can shoulder my pastoral obligations.” On his tenure, he simply answers, “I’m BY SAM SPOKONY ow that the previously stalled 50 West St. luxury condo project is back from the dead, Downtown residents can also look forward to the development’s planned public space, which will further help link the Financial District to Battery Park City. However, that lag time on the condos has also put a three-year hold on the nearly $5 million the developer had agreed to pay towards Downtown affordable housing in an almost-forgotten deal struck with the city in 2007. After it was originally planned to be paid out in 2013, the developer will now have until mid-2016 — which is when 50 West St. is now expected to be complete — to shell out that cash. Time Equities, which is developing the site, finally broke ground last October after the project — originally planned as a 65-story hotel/ residential tower — was sidetracked for years following the nation’s financial crisis in 2008. Now 50 West St. is being built as a 63-story tower, minus the hotel, which in addition to the condos will also include ground-floor retail, a bar/restaurant and one floor of office space, according to the developer. Speaking at the March 5 meeting of Community Board 1’s Financial District Committee, Time Equities C.E.O. Francis Greenburger said he has also since cut down the number of condos planned for the tower — from around 300 to around 200 — in order to increase the size of the units, which will range from one to four bedrooms. He also noted that his plans for a privately owned public space — sometimes referred to as POPS — outside 50 West St. have remained the same as when the project was originally Continued on page 23 Continued on page 14 n Downtown Express photo by Scot Surbeck hINTs oF sPrING… The sunset and warmer weather at Battery Park City’s North Cove last week and this week gave Downtowners some hopes for spring, although predictions are for a few more cold days before the season begins March 20. The recent mix of snow, rain and warm weather led to The Rink closing for the season a few days early this week. Fearing priest’s forced retirement B Y t E Q U iLA M iNS K Y ather Fabian Grifone may have celebrated his final Ash Wednesday mass last week as pastor of Little Italy’s Church of the Most Precious Blood. “I’m supposed to be retired, but not as yet,” he said in response to the constant murmurings of his imminent retirement which has Parish members in a state of anxiety. F He’s 88 and pastors have a mandatory retirement age of 75. Technically he is already retired, but he still performs all of his pastoral duties proficiently and happily. “I’ve been here for 21 years and four months,” he emphasized. The church at 109 Mulberry St. briefly had a pastor who was going to replace him last year, but that did not last. A few years back, Father Fabian had a severe When it’s time to retire, will you be ready? Invest in an IRA with rates as high as 2.15% APY The Perfect Fit Open your IRA by April 15th at one of our convenient branches or visit 800-522-4100 ® Annual Percentage Yield (APY) is accurate as of 3/7/2014. Rates subject to change. Minimum deposit $250. A penalty will or may be imposed for early withdrawal. Consult your tax advisor for eligibility and potential tax savings. ©2014 Valley National Bank®. Member FDIC. Equal Opportunity Lender. All Rights Reserved. VCS-5505 5505_Community Media Ad_9.875x2.indd 1 5 15 CANAL ST RE ET • N YC 10 013 • C OPYRIG HT © 2013 N YC COMMU N ITY MED IA , LLC 3/7/14 11:21 AM


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