GlobeSt.com UPDATE: Goldman Sachs Goes Ahead With HQ Plans

NEW YORK CITY-Goldman Sachs plans to move forward with plans for a two-million-sf base of operations on Site 26–the last commercial parcel in Battery Park City. In April , the firm said it was reconsidering those plans and hired Cushman & Wakefield to search for possible alternatives. The state has changed plans to construct a traffic tunnel on West Street that would have veered traffic in front of the site.

The project, which is estimated to cost nearly $2 billion, would be the first development of headquarters space in Lower Manhattan in 16 years. A Goldman Sachs spokesperson declined comment. Already approved is $1 billion in Liberty Bond financing to go toward development costs, but additional financing could be forthcoming. When the headquarters effort was announced nearly a year ago it included $13.4 million in sales tax exemptions. The company would also be eligible for Con Edison energy discounts worth an estimated $10.3 million and can apply for up to $25 million in Job Creation and Retention Program grant funds.