NYC Settles Challenge To $350M Waterfront Project

Law360, New York (May 21, 2012, 6:29 PM EDT) -- New York City's $350 million overhaul of the Brooklyn waterfront cleared a legal hurdle Monday when the city promised to build new park space to replace land swallowed by a retail development, settling a lawsuit that had delayed the project for more than a year.

The agreement with community and historic preservation groups clears the city to redevelop two abandoned warehouses, reminders of Brooklyn's once-vibrant shipping industry, into a major source of revenue.

The Tobacco Warehouse and nearby Empire Stores will be converted as planned into...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.