5 world trade center

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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affordable housing, Financial District, New Developments

WTC, world trade center, 5 world trade center

Image via Flickr

Last month, Gov. Andrew Cuomo put out a request for proposals for 5 World Trade Center, the last remaining site at World Trade Center’s southern end and the former home of a Deutsche Bank Building that was severely damaged during the September 11 attacks. The RFP seeks commercial or mixed-use proposals for a roughly 900-foot-tall building, that may include a residential component. As the process continues to unfold—and rapidly, with a site tour for interested developers scheduled on July 22—local residents worry that their voices are being left out, as Daily News reported.

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affordable housing, Financial District, New Developments

WTC, world trade center, 5 world trade center

Image via flickr cc

Earlier this month, the Port Authority and the Lower Manhattan Development Corporation arrived at a deal to release a request for proposals for the development of 5 World Trade Center, Crain’s reported. The two state agencies had been locked in negotiations over how to develop the last site, which lies at the World Trade Center‘s southernmost end, surrounded by Washington, Albany and Greenwich streets, for years; as a result, the site has remained in limbo. Today, Governor Cuomo officially released a Request for Proposals for the site, which allows for either commercial or mixed-use proposals for a roughly 900-foot-tall building. Any proposals putting forth a residential component must include “onsite affordable units that comply with New York City’s Mandatory Inclusionary Housing program,” according to a press release.

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