130-140 Liberty Street

affordable housing, Financial District, New Developments

WTC, world trade center, 5 world trade center

Photo by bilderkombinat berlin on Flickr

Plans to build a 900-foot mixed-use tower with 1,325 units of housing at 5 World Trade Center are moving forward. The boards of the Port Authority of New York and New Jersey and the Lower Manhattan Development Corporation voted on Thursday to approve the recommendation of the selection committee for the proposal from Brookfield Properties, Silverstein Properties, Omni New York, and Dabar Development Partners. The site is the former location of the Deutsche Bank building which was damaged in the September 11 terrorist attacks and later demolished. The developer will now enter negotiations for a lease for the residential tower, expected to measure 1.56 million gross square feet.

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