At the West Side Tennis Club's August 10 meeting, WSTC President Ken Parker, a resident of Brightwaters, opened the meeting by requesting that non-members leave the overcrowded room. Representatives from Cord Meyer, including President and CEO Sal Panico, COO Anthony Colletti and noted architect Anthony Morali were on hand to present their plans for the site.
They propose building approximately 75 residential units, which they hope to sell for about $1 million- and earn a profit of $25 million!
Stadium Committee Chairman Jeffrey Tabak- a resident of Manhattan and Nantucket- spoke about the other options he has explored during the past year he has served on the board, including meetings with two large live entertainment companies. He said the companies estimated it would cost approximately $15 million to refurbish the stadium, and that the 14,000 seat stadium was either too small for big name acts or too big for emerging artists.
Tabak also claimed to have met with eight to ten parties brought by a commercial broker his committee had contracted, but that no serious bids were presented, possibly due to a lack of financing in this economy and the limited size of the plot.
Additionally, Tabak mentioned meeting with a local educational institution- which we know to be the Kew-Forest School- which is interested in exploring the possibility of developing a tennis academy in conjunction with the school, but he felt it would take too long. A financial report given by the club’s treasurer Rosemary Cosentino-who lives in Manhasset- suggested the club has two alternatives: raising dues or selling the stadium.
It will be interesting to see what the Forest Hills Gardens Corporation (FHGC) thinks of Cord Meyer’s architectural plans. Although the tennis club's board of governors may be made up of some very bright, hard working people, few of them actually live in Forest Hills Gardens, or seem to appreciate the power FHGC has to turn something like this down. So we shall see.
From the Forest Hills Gardens Blog.
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