The Port Authority of New York and New Jersey Board of Commissioners and the Lower Manhattan Development Corporation Board (LMDC) voted unanimously to award the development of 5 World Trade Center to Silverstein Properties, Brookfield Properties, Omni New York, and Dabar Development.
The 900-ft building, designed by Kohn Pederson Fox, is slated to have 190,000 square feet of office space, a 12,000-square-foot community facility space, 55,000 square feet of public amenity space, 7,000 square feet of retail space, and 1.2 million square feet of residential space divided into 1,325 apartments. Of these, 330, or 25 percent of the total inventory, will be devoted to affordable housing. The development site sits to the south of the elevated Liberty Park and Santiago Calatrava‘s St. Nicholas Greek Orthodox Church, and is bound by Greenwich Street to the east, Albany Street to the south, and Washington Street to the west.
“Silverstein Properties has been intimately involved in the redevelopment of the World Trade Center since 9/11. It has been a long, challenging, but deeply fulfilling journey, and we are very proud of our contributions, as well as our excellent working relationships with the Governors of New York and New Jersey, the Port Authority, ESD, LMDC and other stakeholders. We are grateful to have been selected to co-develop 5 WTC along with Brookfield, Omni and Dabar. We look forward to developing a sustainable, energy efficient, healthy building with community facilities, sorely needed affordable housing, great architecture and first-class retail, office and rental housing that fits into the World Trade Center campus and the broader Downtown neighborhood. This announcement is a giant vote of confidence for Lower Manhattan,” said Larry A. Silverstein, Chairman, Silverstein Properties.
“5 World Trade Center represents an extraordinary opportunity to propel Lower Manhattan’s ongoing development as a vibrant, 24/7 community, and we are thrilled to be chosen to fulfill its promise. With great attention to sustainability and design, and a deep commitment to affordability, we believe our plan will result in a fitting final piece of the WTC site that will benefit the Lower Manhattan community for decades to come. We want to thank Governor Cuomo, the Port Authority and LMDC for the opportunity, and we look forward to working with Silverstein Properties and Omni and Dabar, as well as the spectrum of local stakeholders, to make it happen,” said Brookfield Property Group Managing Partner Ben Brown.