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Department Overview:

NYCEDC’s Asset Management (AM) Division manages the overall strategy for conventional and non-traditional assets across all five boroughs of New York City including commercial real estate properties as well as transportation, critical infrastructure, and energy assets. The Asset Management division pursues a double-bottom line strategy, targeting not just economic returns but also multiple social metrics including but not limited to job creation and growing equitable neighborhoods. The overall assets are divided into multiple portfolios, each managed by an Asset Manager/SVP, with a Business Operations department that monitors and enforces standards and practices across the portfolio.

NYCEDC’s Ports, Waterfront, and Transportation (PWT) department within the Asset Management division delivers medium- to long-term transportation and waterfront infrastructure solutions for NYC, encompassing freight, maritime, waterfront, aviation, cruise, and more. The department provides strategic policy direction, facilitates partnerships, supports the development and delivery of critical transportation and industrial infrastructure assets.

Some projects of note include: Blue Highways, offshore wind (OSW) infrastructure, and cruise terminals.

Goals for the coming year include a variety of discrete projects and policy initiatives:

• Develop freight decarbonization goals and strategies to shift freight transportation from trucks to more sustainable modes including rail, maritime, and micro-mobility.
• Initiate programs to develop electric charging infrastructure for passenger and commercial vehicles on city-owned sites
• Engage offshore wind developer in siting activities on NYCEDC/City property, develop key transmission and interconnection sites for offshore wind purposes, and secure community-oriented amenities from offshore wind investments
• Strengthen role of cruise terminals connections to NYC communities
• Develop strategies to support transition to low-carbon and equitable transportation, leveraging public/private partnerships, City sites, and inter-agency planning and program development efforts
• Advance new aviation technology