February 3rd - February 9th, 2007

JFK Rail Link Still on the Table

Friday, February 2^nd: Last week, President George Bush proposed converting $2 billion in unused 9/11 tax credits to help build the long-proposed rail link between Lower Manhattan and JFK Airport.

Even amid criticism by some transit advocates about its cost, the $7 billion rail link has maintained strong support from politicians and the downtown business community, which has lobbied hard for the express train service that would also connect Long Island and Queens to Lower Manhattan. Senator Charles Schumer released a statement last week citing the need for downtown businesses to draw from "the labor pool in Long Island." For more on this story, please click here.

Victims Family Room Closed for Construction

Tuesday, February 6^th: The New York Times reported that a private trailer reserved for relatives of 9/11 victims to mourn their loved ones over the last four years will be closed on February 27^th to make way for excavation and construction along the southern edge of Ground Zero. The trailer will be replaced on March 5^th, and personal items and memorabilia left in "the Family House" will be moved to a new trailer at the north end of the World Trade Center site.

The New York Post reported that the trailer, known as "the Family House," has been visited by thousands of victims' relatives and houses photos and mementos of the victims.

New Residential Hotel Being Built on Chambers Street

Tuesday, February 6^th: Hotelier Jason Pomeranc is about to begin construction of the Smyth Hotel at 85 West Broadway at Chambers Street, according to the New York Post. The 100-room hotel is billed to open in the winter of 2008. The 14-story hotel will include 15 residential apartments on its top floor. The hotel will feature a multi-level restaurant with a lounge and cellar bar, a gym, and spa services.

Wall Street Funds NY Downtown Hospital

Wednesday, February 7^th: Bloomberg reported that downtown bankers and brokers are funding improvements at New York Downtown Hospital, the only full-service medical center in Lower Manhattan. "This is the place people go when there's an emergency," Peter Gross, managing director at Goldman Sachs Group Inc. and a hospital trustee told Bloomberg. "It's crucial that we have a really strong, forward-leaning hospital that's adequately funded."

Notable Wall Street corporate donations to New York Downtown Hospital include a $5 million gift from Lehman Brother for the hospital's new emergency center, a gift from American International Group Inc. to purchase a new CT scanner, and sponsorship of the hospital's annual symposium on emergency preparedness by Goldman Sachs. For more on this story, please click here.