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Developers bid on restaurant-entertainment project in NYC park

NEW YORK Three real-estate developers are bidding for the right to build an entertainment complex featuring several restaurants and food markets on the site of a neglected pier in the Chelsea area of Manhattan, The New York Times reported Thursday.

Revenues generated from the project would benefit the city’s Hudson River Park.

The three-level complex would consist of several restaurants and food markets, similar to those in Seattle’s Pike Place Market, as well as retail stores, museums, film centers and public space intended to attract tourists and locals alike, according to the Times.

Interested developers include Related Companies, Youngwoo & Associates and the Durst Organization, the Times reported. Durst and its partner C&K Properties reportedly is committed to spending $330 million on the project, which would feature a live-music venue, restaurants and a separate marketplace of cafes, food stalls and boutiques. Youngwoo’s $191 million plan would include the creation of an auction house, cultural center and a food market/restaurant mall area. Related Companies has offered up a $353 million plan that also calls for a Pike Place-type food market, a large theater, rooftop pool and cafe, restaurants, a marina, a public park and a 75,000-square-foot event space with ballroom, according to the Times.

Adeveloper selected in 2005 to transform the pier withdrew from the project earlier this year amid scandal and skyrocketing costs.

Hudson River Park runs from lower Manhattan to the midtown area of the city. The park, which was built in 1998 with state and city funding, is responsible for raising funds to maintain its own operations.

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