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[NYguy]

https://www.crainsnewyork.com/politics-policy/cny-kathryn-garcia-5-wtc-port-authority-20260527/

Port Authority rethinking 5 World Trade Center due to building material costs


By Kathryn Brenzel
May 27, 2026

The final World Trade Center tower is on pause as the Port Authority and the developers figure out how to move forward, given the cost of building materials.

During a Crain’s Power Breakfast on Wednesday, Executive Director Kathryn Garcia said developers are still expected to set aside a third of the units at 5 World Trade Center as affordable, but the high cost of building materials — especially steel — have made moving forward, for now, untenable.

The agency acknowledged in March that the 1,200-unit project was on ice. At the time, officials said at a Manhattan Community Board meeting that they and developers Silverstein Properties and Brookfield Properties were exploring the mix of residential units to make sure that the project could move forward.
When asked on Wednesday if the project’s affordability levels will be changed or more market rate units will be added, Garcia said the agency is focusing on a different question.

“What are the materials you’re using? Are you building a steel and glass skyscraper? Or are you building with something else?” she said. “Steel is very expensive.”

Federal tariffs have driven up the price of steel and other materials.
She said the agency, which is leasing the site to the developers through a long-term lease, doesn’t have a timeframe for restarting the project.

[jsusentertainment]

Can someone update the drawing of Five World Trade Center (920 ft) please?

[MercurySky]

Originally Posted by jsusentertainment

Can someone update the drawing of Five World Trade Center (920 ft) please?

Why? It still looks the same.

[NYguy]

During a Crain’s Power Breakfast on Wednesday, Executive Director Kathryn Garcia said developers are still expected to set aside a third of the units at 5 World Trade Center as affordable, but the high cost of building materials — especially steel — have made moving forward, for now, untenable.

The agency acknowledged in March that the 1,200-unit project was on ice. At the time, officials said at a Manhattan Community Board meeting that they and developers Silverstein Properties and Brookfield Properties were exploring the mix of residential units to make sure that the project could move forward.
When asked on Wednesday if the project’s affordability levels will be changed or more market rate units will be added, Garcia said the agency is focusing on a different question.

Now that the smaller Tower 2 is underway (from 2nd largest office tower on site to smallest), there’s more than a half million square feet of space left off the table. IMO, they should send that unused space to site 5, drop the ridiculous height limit, and build a 1,362 ft tower, creating a perfect bookend to the Freedom Tower.

[Busy Bee]

Interesting idea, but they still seem to be pretty loyal to the misguided Liebeskind plan.

[NYguy]

Originally Posted by Busy Bee

Interesting idea, but they still seem to be pretty loyal to the misguided Liebeskind plan.

I know. But there are possibilities they should consider. That space was also considered for hotel along with office at the tower 2 site. They could combine hotel with office and residential if the numbers work better. They have put themselves in a box with the affordable housing, now they have to make it work. I just hope we don’t end up with some cheap looking, thrown together building.

[jsusentertainment]

https://e1.nmcdn.io/assets/kpf2024/wp-co...iles/3000_1_000_N3_VerticlaB-scaled.webp
Can someone update this drawing of 5 World Trade Center (Proposed) please?

[mrnyc]

Originally Posted by NYguy

Now that the smaller Tower 2 is underway (from 2nd largest office tower on site to smallest), there’s more than a half million square feet of space left off the table. IMO, they should send that unused space to site 5, drop the ridiculous height limit, and build a 1,362 ft tower, creating a perfect bookend to the Freedom Tower.

i can’t imagine anyone would just throw away a development opportunity like that. yes the affordable housing fiasco has held this up, but it will get worked out. we just have to be patient.

[Zapatan]

Originally Posted by NYguy

Now that the smaller Tower 2 is underway (from 2nd largest office tower on site to smallest), there’s more than a half million square feet of space left off the table. IMO, they should send that unused space to site 5, drop the ridiculous height limit, and build a 1,362 ft tower, creating a perfect bookend to the Freedom Tower.

Or go even higher, I think it's the wrong position in the complex to match 1WTC height wise although a little taller or shorter could be good.

[Sky88]

Originariamente pubblicato da NYguy Visualizza il post
Ora che la Torre 2, più piccola, è in costruzione (passando dalla seconda torre per uffici più alta del sito alla più piccola), ci sono più di mezzo milione di piedi quadrati di spazio inutilizzato. A mio parere, dovrebbero destinare quello spazio inutilizzato al sito 5, eliminare il ridicolo limite di altezza e costruire una torre di 1.362 piedi, creando una perfetta simmetria con la Freedom Tower.

One could imagine a tower similar to the one proposed for the 625 Madison Ave project, 68 stories and 1,270 feet tall. Offices at the base, followed by hotels and residences.

[chris08876]

621 West 45th Street aka Hudson Landing will likely rise before this. IDK why the community is bickering over units. Its units! If they want more affordable housing, let them build even more units so the allocation percentage is greater.

If anything, not enough units overall considering the location. This should easily be 2k units.

All this stalling does is hurt New Yorkers who need housing. Same with the Gold Street development due to "community engagement".

[DCReid]

The issue supposedly holding this up is not total number of units but total number of affordable units, which the developers seems to insinuate makes this project not feasible. I'm guessing that they will change to design to a plain box to add more total market rate units. I don't think the design looks all that great with the setbacks, and maybe one or two setbacks at the base is all that is needed. I would be shocked if they make it taller; seems like fatter is the better option here.

[Zapatan]

Originally Posted by DCReid

I would be shocked if they make it taller; seems like fatter is the better option here.

That's probably the case, but how much extra zoning approvals would they need if they did want to go taller?