NEW YORK CITY-In what developers say marks a return for Lower Manhattan construction, Millennium Partners just received approval from the Hugh L. Carey Battery Park City Authority Board of Directors to construct a 37-story, 450,000 sf environmentally “green” condominium tower next to the Ritz-Carlton Hotel along Little West Street in Lower Manhattan. The tower will include 4,000 sf of retail space, a fitness facility, playroom and residents’ library and lounge.

BPCA president and CEO Timothy S. Carey notes that the ability of a major developer to build without residential subsidies indicates that Lower Manhattan’s resurgence is on pace. The project is not eligible for Liberty Bond financing because 5% of the units have not been put aside for affordable housing. “This development again proves Lower Manhattan’s vitality and resiliency,” Carey says, adding that the developer’s decision to build without subsidies leaves more money in the Liberty Bond pool for other projects.

Carey adds that BPCA’s commitment to “green” specifications such as on-site filtering and recycling of waste water, efficient energy strategies, solar panels and recycling of construction waste.

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