The Yonkers Contracting Co. contracts are the first awarded for the $7-billion, five-year construction project that will consist of three new towers rising on the eastern portion of the 16-acre World Trade Center site. The foundation awards for the two towers total $40 million.
The foundation work is slated to begin Jan. 2. According to Silverstein Properties, the initial work will take place 85 feet below Church Street and involve about 50 construction workers. Individual tower footings will be excavated a further 10 feet to 12 feet and the foundation work will enable the towers' superstructure to begin around six months later, the development company adds.
The start of the work will come just days after the Port Authority of New York and New Jersey turns over the sites for the two towers to Silverstein, as outlined in a November 2006 agreement. World Trade Center Towers 3 and 4 are expected to be ready for occupancy in 2012.
"These contracts are the first part of the actual construction of 150 and 175 Greenwich," World Trade Center developer Larry Silverstein says in statement. "It's the beginning of the vibrant new business district that we are creating Downtown."
Yonkers Contracting is no stranger to the World Trade Center site. The PA of NY/NJ hired the company to help restore PATH services to the area after the Sept. 11 attacks. Other area projects Yonkers Contracting has worked on include Grand Central Terminal, Penn Station and emergency repair work on the Brooklyn Bridge.
"Yonkers Contracting Co. responded to the World Trade Center disaster with site remediation services and is proud to have led the joint venture that re-opened the PATH tunnels and temporary station ahead of schedule," Yonkers Contracting CEO Carl Petrillo says in a statement. "We are privileged to be back at the World Trade Center site, pleased to be participating in its redevelopment, and look forward to starting work in the New Year."
The contracts come two months after the final designs for the towers were revealed, as GlobeSt.com previously reported. Rogers Stirk Harbour + Partners designed 175 Greenwich, a 71-story tower set to rise 1,147 feet above street level on a site bounded by Greenwich, Church, Dey and Cortlandt streets. The building will contain 193,000 sf of retail, 54 office floors with 2.1 million sf and five trading floors. Maki Associates is the design firm behind 150 Greenwich, a 64-story tower set to rise 975 feet on a site bounded by Greenwich, Church, Cortlandt and Liberty streets. It will contain 56 office floors with 1.8 million sf, and five floors of retail. The Port Authority of New York and New Jersey inked a deal to take a third of the office space for its new headquarters.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
