NEW YORK CITY-Possibly making its offerings at the Domino Sugar Factory site even sweeter, Two Trees on Sunday issued a revised plan for the 11-acre sprawl that includes a substantial swath of office space. The new proposal is a marked change from the ideas put forth by Two Trees' predecessor on the project, CPC Resources, and a welcome alteration for most constituents.

According to an announcement of the plan, Two Trees' principals, and father and son, David and Jed Walentas—with the help of ShoP Architects—devised a $1.5 billion plan that features 631,240 square feet of office space; a marked change from CPC's proposal of 98,738 square feet. The new plan cuts about 160,000 square feet of residential space, along with some retail and 501 parking spaces, according to Crain's New York

Business. Yet locals largely welcomed the news as it addresses problems that have generated controversy and delays.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.