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YIMBY previously uncovered a supertall proposal for this site, and with conformation that the tower could go residential or mixed use with over 1 million sf to work with, a supertall might rise here to cap the redevelopment of the World Trade Center.



Warring agencies reach deal to sell final World Trade Center site

The Port Authority and the Lower Manhattan Development Corp. have reached a deal to release a request for proposals in the coming months for 5 World Trade Center, several people involved or familiar with the negotiations between the agencies told Crain's

The parcel, which can accommodate over 1 million square feet of commercial or mixed-use development, could be worth hundreds of millions of dollars and is expected to draw attention from developers interested in raising an office, hotel or apartment spire, or a tower that could include all three uses.

The agencies would split the proceeds, but what percentage each would get is unclear.

In an LMDC board meeting in March, Holly Leicht, who chairs the agency's board and is a real estate executive at the Empire State Development Corp., said the Port Authority and the LMDC would conduct independent appraisals of 5 World Trade Center. If the appraisals are within 10% of each other, the agencies would move forward with the request for proposals.

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The appraisals are being concluded, a source said, and the Port Authority and the LMDC are negotiating on a benchmark value for the site that will allow the RFP process to proceed.

[...]

The Port Authority is not allowed to hold residential assets. The RFP will allow developers to submit proposals for both. The site is part of a general project plan—a state zoning framework—that prohibits residential development on the site. The general project plan, however, could be altered by the board of the LMDC. The source said the site would likely be sold if it were to become residential.

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https://newyorkyimby.com/2018/03/zombified-plans-revealed-for-supertall-5-world-trade-center-by-kohn-pedersen-fox.html





 

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Discussion Starter #3
I do really like the shape. It's something different but not ugly. Looks a bit futuristic even.
That's an old proposal which isn't going to happen. That one was tied to Wanda Group before the crackdown.
 

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nice filler! :cheers:
 

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sounds like the LMDC wants the tower capped at 900ft. Maybe that would go higher with a switch to residential, but for now that's the limit. I hate height limits where there's no need...

https://www.crainsnewyork.com/real-estate/5-wtc-max-out-900-feet

The Port Authority of New York and New Jersey and the Lower Manhattan Development Corporation had been locked in a years-long battle over how to best develop the site, which is surrounded by Washington, Albany and Greenwich streets. The requests for proposal from the two agencies calls for a developer to purchase or lease the site for a commercial use that can be up to 1.3 million square feet.

That square footage could be used for an office tower, or an 800-key hotel with a convention center and retail. The RFP raises the possibility of a residential or mixed-use tower for the site but notes that would require an override of the General Project Plan that governs the site.
 

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sounds like the LMDC wants the tower capped at 900ft. Maybe that would go higher with a switch to residential, but for now that's the limit. I hate height limits where there's no need...

https://www.crainsnewyork.com/real-estate/5-wtc-max-out-900-feet
theres no need for a new residential tower on this site. there are many millions of square feet of obsolete office stock in LM that can be converted to new residential (in fact this conversion process has been going on for a while now), and new residential can always be built on the various small, irregular lots scattered through downtown.

on the other hand, this is one of the very few lots in LM that could reasonably accommodate a modern office tower. in fact, the lot size is almost unique for the area. a real asset. i cant really think of any other areas downtown that could accommodate bulk office unless there are very expensive tear-downs of other buildings. if LM is going to remain a major financial/ office district, then this lot should be reserved for a big office tower.

as far as the height cap/sq ft cap, however, i agree that its asinine. this site is a treasure that shouldnt be wasted.
 

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sounds like the LMDC wants the tower capped at 900ft. Maybe that would go higher with a switch to residential, but for now that's the limit. I hate height limits where there's no need...

Totally agreed, that's dumb, they're probably just trying to keep the spiral of the original plan which is stupid because think of how cool a 1WTC sized building would look on the other side of the complex. :eek:hno:
 
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