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Case Study

Best Use of an Extraordinary Island

For more than 200 years, Governor’s Island was a sleepy military base, just minutes from the global urban epicenter of another island, Manhattan. When the base closed and the island was presented to the city and State of New York, expectations were high, to put it mildly.

Though many clamored for the assignment, the new owners selected our Development Asset Strategy team to market the island to potential occupants and investors. Carefully following criteria established by the Governor's Island Preservation and Education Corporation, Jones Lang LaSalle colleagues collaborated throughout the world to interest targeted global hotel, resort, conference center and timeshare developers, along with an array of not-for-profit arts and educational organizations that might locate their programs on the island.

Not surprisingly, we got some response. More than 90 major redevelopment proposals have been received to date and are being used by the public corporation to formulate a maximum value development and land use plan.

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