Gov. Kathy Hochul has announced that a deal has been reached between the state and developers to build 5 World Trade Center, which will be the lone residential tower in the 16-acre WTC redevelopment.
The 900-foot supertall will be jointly developed by Brookfield Properties, Silverstein Properties, Omni New York and Dabar Development Partners.
Community activists fought the project for nearly two years, demanding that every unit in the tower be income-restricted. Under the agreement announced by Hochul, one third of the 1,200 apartments at 5 WTC will go to low-and moderate-income households.
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.
