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Downtown Doings #1: Air Unlocked Above West Street?

Business forums are usually lacking in the fireworks department, but at a Crain's forum yesterday, the Lower Manhattan Development Corporation unveiled some interesting plans for a chunk of downtown. The Sun's Eliot Brown reports that LMDC chairman Avi Schick said the state is working with the city to convert a public parking garage on West Street near the Brooklyn Battery Tunnel to a facility for commuter and tour buses. This would take those idling, fume-spitting spacehogs off the streets and unlock 3 million square feet of residential development rights for the area. Why hello there! That new development space would come from selling off the garage's unused air rights, which would surely create a frenzy in this age of big-money air rights snatching. Shall we say ... developing?
· Garage Plan Could Spur Development [NYSun]