A giant residential skyscraper is slated to join Manhattan’s skyline— rising more than 130 feet above its neighbor, the Woolworth Building. Developer Silverstein Properties announced today that $950 million in funding has been secured to move forward with the construction of the Robert A.M. Stern Architects-designed tower at 30 Park Place in Lower Manhattan.
Almost a year ago, reports surfaces that, without an anchor tenant, the 80-story Three World Trade tower by Pritzker-winner Richard Rogers of Rogers, Stirk, Harbour + Partners would be lopped off at seven stories. Without an anchor tenant signing up for at least 400,000 square feet of space in the $300 million tower, the Port Authority of New York & New Jersey will not guarantee the project’s debt. Mayor Bloomberg is optimistic, though, telling the New York Post last week that the tower is “closer than anyone realizes” to landing that all-important tenant, which could be GroupM, a subsidiary of advertising giant WPP. The Post said the company is interested in 550,000 square feet of the tower’s 2.8 million total square feet. If a deal is signed and construction continues, the tower could be complete in 2015.
Bloomberg also delivered the not-unexpected news that Norman Foster’s 88-story Two World Trade tower will likely remain a stump for the near future. SOM’s One World Trade and Fumihiko Maki’s Four World Trade are expected to be finished by the end of the year. In the meantime, take a look back at Silverstein’s blockbuster video rendering of the complete World Trade Center site.
Richard Rogers’ planned 80-story Three World Trade Center could come in a little short—okay, 73-stories short—if office tenants aren’t found for the under-construction tower by the end of the year. Crain’s reports that developer Larry Silverstein plans to cap the tower at seven floors and fill the podium with retail uses. If an anchor tenant is later found—as late as 2020—the building’s cap can be removed and construction resumed to reach its original height.