NEW YORK | The Spiral (509 W. 34th) | 1,041 FT | 66 FLOORS

[LouColu]

I wouldn't worry much. Here is a 35 story building that's over 700 feet:

http://en.m.wikipedia.org/wiki/RSA_Battle_House_Tower

[McSky]

2,550,000 / 67,451 = 37.8

How could this project qualify for 37.8 FAR?

[NYguy]

Originally Posted by McSky

2,550,000 / 67,451 = 37.8

How could this project qualify for 37.8 FAR?

The max is supposed to be 33 for all of the four corners site. But the project site isn't necessarily the full lot site. Remember, a portion of the lot is being allocated for the Hudson Blvd & Park. Use the railyard development for an example. The FAR isn't as high, but they are able to utilize the FAR of the entire site.


The four corners lots received the 33 FAR, with a max residential FAR of 6 (6 times the lot size could be residential space). As far as I know, only 3 Hudson has contemplated residential space at the top.





These sites were originally going to have an unlimited FAR, until the City Council stepped in. The current Queens borough president led that charge.

[McSky]

Thanks for that info. On top of all the other construction in the Hudson Yards area, this will add a tower with more volume than the Empire State Building.

[Zapatan]

Originally Posted by LouColu

I wouldn't worry much. Here is a 35 story building that's over 700 feet:

http://en.m.wikipedia.org/wiki/RSA_Battle_House_Tower

Right but that's not common, also I wouldn't actually want a 60 floor (900+ ft) tower with a massive crown or spire on top (not that there's anything wrong with those) It's just that it would be nice to have a real, solid signature tower.

[NYguy]

Originally Posted by Zapatan

Right but that's not common, also I wouldn't actually want a 60 floor (900+ ft) tower with a massive crown or spire on top (not that there's anything wrong with those) It's just that it would be nice to have a real, solid signature tower.

But who sad this tower was common? We haven't even seen it yet, don't know how many floors it will be (its in development, 61 floors an "approximate" number), and there's nothing to freak out about. It could be a 900 ft tower, but that's just very unlikely. Sit back and wait for a rendering, even a preliminary one.

[chris08876]

^^^^

I agree. Until the offical data comes out, 61 stories could be something very large or something reduced in size. We don't know yet, but I would go with what the developer saids. They usually tend to know stuff...

[NYguy]

http://www.capitalnewyork.com/article/city-hall/2014/07/8548668/vote-planned-new-hudson-yards-tower

Vote planned on new Hudson Yards tower





By Sally Goldenberg and Dana Rubinstein
Jul. 10, 2014

The New York City Industrial Development Agency is poised to vote later this month on construction of a new tower within the vast Hudson Yards development project that would grant the property owner $170 million in tax breaks in exchange for multi-million-dollar contribution to expanding the Number 7 train and making other infrastucture improvements, city documents show.

The developer also would be required to pay workers a "living wage."

The I.D.A. has sheduled a public hearing for July 17, followed by a vote on July 22, on a $3.2 billion, 2.6 million-square-foot office and retail tower that would be built by the developer Tishman Speyer at Hudson Yards on Manhattan's west side.

Included in the project's official cost/benefit analysis prepared by the I.D.A. is a caveat that Tishman Speyer receive $170 million in property tax breaks over 25 years in exchange for a "payment in lieu of taxes." That means a commitment the company give "hundreds of millions" to the Hudson Yards Infrastructure Corp., according to a spokeswoman for the New York City Economic Development Corp. The I.D.A. is an arm of the E.D.C.

The spokeswoman said Tishman Speyer would provide the money in exchange for the property tax break to pay for transportation and park infrastructure in the area, including the yet-to-be-completed extension of the Number 7 subway line.

The project, if approved, would generate 7,611 construction jobs and more than 7,100 office, retail and building-service employment opportunities, according to the cost/benefit analysis.

The E.D.C. spokeswoman said Tishman Speyer would be required to comply with the city's living-wage law, which previously exempted a portion of the Hudson Yards project when it was passed in 2012 over the objection of former mayor Michael Bloomberg.

That means Tishman's workers would be paid $10.30 an hour plus benefits, or $11.90 an hour without benefits, according to the latest figures on the living-wage rate, which has increased since the bill was passed.

The spokeswoman said Tishman's project is separate from the Hudson Yards development being spearheaded by the Related Companies in that the living-wage exemption would not extend to this tower.

De Blasio, who promised to expand living wage as mayor, announced in March that he and Related Companies had struck a deal mandating the company pay the living wage to its workers, but the law has not been changed to reflect that new agreement.

The regulation applies to those who receive at least $1 million in subsidies, but does not extend to "tenants"—companies housed within the buildings—unless the lead developer is a majority owner in that company.

De Blasio has said he would announce changes to the existing living wage law in the coming weeks.

When completed, the massive Hudson Yards project, a private development, will include residential and retail space, office towers, an observation deck and open space.

[Perklol]

A fine addition to the Hudson Yards district.

[Crawford]

Originally Posted by Eveningsong

Great! Also good luck getting a tenant with the 110 ft deep subway station.

Uh, I'm pretty sure having a subway station is an amenity.

Not sure what the relative depth of the subway system has to do with anything.

[NYguy]

It's just a ridiculous comment. All of the towers in the vicinity will be based around that same subway station.

[NYguy]

The hearing at NYCIDA is today. This will most likely be a formality.

[NYguy]

http://jewishbusinessnews.com/2014/07/18...eaks-for-3-2-billion-hudson-yards-tower/

Tishman Speyer Awaits Government Vote on Tax Breaks for $3.2 Billion Hudson Yards Tower
Will a New York City agency scuttle Tishman Speyer’s hopes for a new tower?

The New York City Industrial Development Agency held a public hearing yesterday on whether or not to approve $170 million in tax breaks for Tishman Speyer’s $3.2 billion office and retail tower planned for Hudson Yards. The tax breaks would come as compensation for the firm’s contributing millions for the expansion of the city’s number 7 subway line and other general improvements to infrastructure at the site.

A final vote on the matter is scheduled for July 22nd. If approved, Tishman Speyer would receive the tax benefits over a twenty five year period.

The new tower will meet LEED Gold standards and have 57,000 square feet of retail space. It is expected to create 7,611 construction jobs and more than 7,100 office, retail and building-service employment opportunities once it is completed. The owners would be required to comply with New York City’s living wage law, which would mean paying workers a minimum wage of $10.30 an hour plus benefits, or $11.90 an hour without benefits.

Founded in 1978 by Robert V. Tishman and Jerry I. Speyer and headquartered in Rockefeller Plaza, Tishman Speyer is a leading owner, developer, operator, and manager of real estate in the world, having managed over 123 million square feet across the United States, Europe, Latin America and Asia.

[NYguy]

I'm not sure what the final vote by the board was, but I'm sure this was approved.

Below you can read some of the testimony in favor of the project...

http://www.nycedc.com/system/files/files...20Hearing%20Transcript%20July%202014.pdf


Sample...

It is of critical importance to note that this project will be developed by one of the most reputable names in the business. Tishman Speyer is not only a gold plate name in real estate development, it is also a gold plate name in the unionized building and construction trades. When projects are built and operated by Tishman Speyer, they don’t just create good jobs - they don’t just create jobs, they create good jobs that our city can be proud of. We therefore again urge the IDA to approve this application and we thank you for your consideration.

From Tishman

MICHELLE ADAMS, MANAGING DIRECTOR OF PUBLIC AFFAIRS, TISHMAN SPEYER:

Good morning and thank you for the opportunity to address this hearing. My name is Michelle Adams and I am the Managing Director of Public Affairs for Tishman Speyer, who are the affiliates and owners of the applicant TS 509 West 34 LLC. I’m going to work on coming up with a catchier name.

I am pleased to speak in support of our Hudson Yards commercial construction project, which will make a significant contribution to the city’s goals of establishing a new and vibrant commercial area in the special Hudson Yards district. Tishman Speyer is one of the world’s leading developers, owners and operators of first class real estate, including Rockefeller Center, the Chrysler Center and 200 Park Avenue to name a few in New York City. Today, Tishman Speyer has acquired and developed 17 properties in New York, totaling 26 million square feet with projects currently being constructed or in the pipeline on four different continents.

We are relied upon by the world’s most prestigious corporations to meet their office space needs. In April 2014, we acquired five contiguous lots that together form a full block stretching between 34th and 35th Streets, 10th Avenue and the forthcoming Hudson Park and Boulevard.

Our application is for a 2.85 million square foot lead certified commercial tower containing class A office space and ground floor amenity retail space. The extension of the Number Seven Subway Line which has already been mentioned and the first phase of the new Hudson Boulevard and Park, both scheduled to be completed on time this year, we believe that this project is a critical next step in positioning the Hudson Yards neighborhood as the next great business center and community development center for not only Manhattan but for all of New York.

The benefits requested in our application are vital to the economic feasibility of this project for which the total development costs are estimated to be exceeding over $3.3 billion. Support for this project will help to ensure the creation of a projected 7,600 direct construction jobs and additional tax revenues for our city. Tishman Speyer is proud to submit this application and we very much look forward to adding an iconic property to New York’s skyline.

[Perklol]

Good news. Hopefully a tenant is found soon so construction can begin.

[NYguy]

Originally Posted by Eveningsong

Right....

Most of those jobs are for burly men living in Long Island and those greedy union ripoff$$$$$.

Who cares who the jobs are for, or where they live. This is a good project for the city and the Hudson Yards district.

Let's keep the commentary on that. Personal opinions on unions and construction workers can be covered in the proper forum if you so wish.

[nyc15]

some news about this tower ??
please i need the updates , can someone informed me

[Perklol]

^That's all the info. available. They want tax breaks for a $3.2 billion 61 story tower and are trying to get Deutsche Bank as an anchor tenant.

Construction will begin in the third quarter of 2015.

[nyc15]

Originally Posted by Eveningsong

^That's all the info. available. They want tax breaks for a $3.2 billion 61 story tower and are trying to get Deutsche Bank as an anchor tenant.

Construction will begin in the third quarter of 2015.

thank you for this answer , now i would like to know what the updates about the height of that tower ?
is that possible to get a 2000 ft tower ?

[Perklol]

^From YIMBY

Originally Posted by babybackribs2314

This is untrue; the marketing by the owner and broker may reflect what could rise, but in reality, the point is to generate hype so the property sells for more than it would otherwise.

It will be an office tower so no 16 ft ceilings.