Lower Manhattan’s most powerful commercial real estate executive is poised to become the head of Manhattan’s fastest-changing business improvement district.
Brookfield Property Partners Chairman and Brookfield Properties Chief Executive Ric Clark is expected to be named chairman of the Downtown Alliance late Tuesday. He’d succeed Alan Scott, who didn’t seek reelection when his term was up last month.
If the Alliance board vote goes as expected, it will bring to the BID’s helm the honcho who famously oversaw the rescue of Brookfield’s properties that were nearly destroyed on 9/11.
Clark went on to expand his company’s portfolio with the 2006 acquisition of Trizec. Under his watch, the firm turned the stodgy World Financial Center in Battery Park City into eating-and-shopping mecca Brookfield Place.
The WFC towers were rebranded with Vesey and Liberty street addresses. Nonfinancial tenants such as Time Inc., Hudson’s Bay Co. and Jones Day replaced Merrill Lynch and other Wall Street tenants that moved away or shrank.
Clark also witnessed the entire neighborhood overcome near-impossible odds — not only its remarkable office-market resurgence since the 9/11 terrorist attack wiped out 14 million square feet of prime space and left much of the area in chaos.
He marveled at its transformation into a residential neighborhood with shopping and dining options. “Remember, before 9/11,” Clark said, “there was a lot of talk about downtown being ‘24-7’ when it really wasn’t. Now it really is ‘24-7,’ and the Alliance helped to make it that way.
The Downtown Alliance, founded in 1995, has the same core mission as all of the city’s 74 BIDS, nonprofit bodies funded by assessments billed to property owners. A BID typically provides supplemental security and street-cleaning services, promotes public safety and beautification programs, and advocates for businesses.
But they also perform roles both visible and behind the scenes, especially…