NEW YORK | 200 Greenwich - 2 WTC | 1,270 FT | 80 FLOORS | ON HOLD

[yankeesfan1000]

Does anyone know if Silverstein wanted to make this a mixed use building, how he would have to go about doing that?

[HyperPower]

Originally Posted by yankeesfan1000

Does anyone know if Silverstein wanted to make this a mixed use building, how he would have to go about doing that?

Don't think a mixed-use tower would be appropriate for the WTC complex and it's currently not zoned for such use.

[Zerton]

Foster's design was so iconic. If built you would see it on every pizza box, moving company truck, etc. Definitely hurts to even look at today

[jsbrook]

Originally Posted by HyperPower

Don't think a mixed-use tower would be appropriate for the WTC complex and it's currently not zoned for such use.

I can't see why it would not be appropriate. At one point, 5 World Trade Center was proposed as a residential and hotel supertall designed by Kohn Pedersen Fox. Zoning 2WTC to be mixed use would not be very hard.

[JMKeynes]

Originally Posted by Zerton

Foster's design was so iconic. If built you would see it on every pizza box, moving company truck, etc. Definitely hurts to even look at today

Something more iconic and taller will rise here. However, for all we know, Goldman or some other bank might decide to lease 1.5m sf next week, and Foster's tower will be built there.

Anything can happen in the Financial Capital of the World.

[Dac150]

Best bet is a law or media firm at this point. Even if Morgan Stanley leaves 1585, I don't see them leaving Midtown. DB would've been a great fit had it not been for the restructuring … it's really amazing what's going on there.

[NYguy]

Originally Posted by yankeesfan1000

Does anyone know if Silverstein wanted to make this a mixed use building, how he would have to go about doing that?

Silverstein leases this space from the Port Authority.

Originally Posted by jsbrook

I can't see why it would not be appropriate. At one point, 5 World Trade Center was proposed as a residential and hotel supertall designed by Kohn Pedersen Fox. Zoning 2WTC to be mixed use would not be very hard.

If it were private land, it would be possible, though not necessarily preferable.. But people forget this is a Port Authority owned development. It was a stretch for them to be in real estate at all. The tower 5 site is actually the site of another office building, not the original WTC site.

But I don't see why people are itching to get a mixed-use or residential tower built on this site at all. As if we aren't getting enough of that built Downtown already, both with new construction and conversions. There is too much short term thinking, and not enough long term thinking about the health of the City. When there is no more land left for development, and buildings have to be demolished and torn down to make way for new office buildings, people want to scream about how the city is destroying it's own legacy. Yet here we have a perfect site for a large office building - along with 15 Penn the largest of the remaining sites for office construction, and they want to cut the commercial component or scrap the office outright, just to get something built today. Such short term thinking.

[MrMayman]

Originally Posted by NYguy

Silverstein leases this space from the Port Authority.





If it were private land, it would be possible, though not necessarily preferable.. But people forget this is a Port Authority owned development. It was a stretch for them to be in real estate at all. The tower 5 site is actually the site of another office building, not the original WTC site.

But I don't see why people are itching to get a mixed-use or residential tower built on this site at all. As if we aren't getting enough of that built Downtown already, both with new construction and conversions. There is too much short term thinking, and not enough long term thinking about the health of the City. When there is no more land left for development, and buildings have to be demolished and torn down to make way for new office buildings, people want to scream about how the city is destroying it's own legacy. Yet here we have a perfect site for a large office building - along with 15 Penn the largest of the remaining sites for office construction, and they want to cut the commercial component or scrap the office outright, just to get something built today. Such short term thinking.

Your last two posts on this topic have been spot on. I agree with everything you have been saying. The office space will be needed, just not right now. The demand for modern office space will be there as HY, 1VB, MW, etc get filled up. If anybody wanted to lease space at the WTC, there is ample space available at 1WTC and 3WTC.

[Dac150]

Originally Posted by MrMayman

The office space will be needed, just not right now.

Exactly right. It's prime commercial real estate with a major transit center next door / downstairs. The right opportunity will present itself.

[chris08876]

Originally Posted by Dac150

Exactly right. It's prime commercial real estate with a major transit center next door / downstairs. The right opportunity will present itself.

In time, but the odds are not looking good at the moment with all of the competition from Midtown. Its really only a handful of companies that will sign on that dotted line for 1 mil sq-ft +. A lot of them are heading to Midtown.

I don't foresee it happening under Silversteins leadership. They should at least consider lowering prices or providing incentives for prospective tenants. Something to make them want to be Downtown.

Thus far its been disappointment, but time will tell. From a symbolic standpoint, I just wish this site would not remain a construction zone. I think thats really why some feel that this needs to hurry up. 17 years later, its still an obvious reminder of a terrible past.

But at the same time, the city is always changing, and what might have been a good time to land a tenant changed due to a dynamic landscape of the free market at work.

[Dac150]

Originally Posted by chris08876

lowering prices

That's probably what it will take at this point. Geographically speaking, employers ideally want to be in Midtown because that's where employees commute into from the suburbs. Citigroup made the move back downtown because it was more cost effective … that's really what it comes down to.

[chris08876]

Its going to cost at a minimum 4 billion to build this at current specs. The long this goes on, the more likely its to rise, if not approach 4.5-5 billion. Construction costs are on the rise, and its going to become progressively tougher, and less competitive the longer this goes on. Catering to different functionalities would help the odds, but so would the whole tower becoming downsized. Which I don't think any of us want, but I have a feeling that if this drags on, we may see that.

[TechTalkGuy]

We have been patient for over 16½ years.
I understand exactly what NYguy is saying & I agree completely that this site should not be rezoned for mixed-use.

[NYguy]

Originally Posted by chris08876

In time, but the odds are not looking good at the moment with all of the competition from Midtown.

The odds are the same as they have always been, Midtown is always more attractive, which is why the state built the WTC in the first place.

But Downtown has improved over the years, and even Midtown, with lack of new product, has seen some shift to the west side.

This article gives some insight to all of that...
https://www.bloomberg.com/graphics/2...ce-migrations/


Steady is the game here...
https://nypost.com/2018/05/14/mckins...-trade-center/

[TechTalkGuy]

Interesting articles, NYguy, which highlights valid reasons we are seeing firms relocate around Manhattan.

Rezoning for taller towers help, but also compete.
Just ask Larry.

[NYguy]

http://rew-online.com/2018/06/13/opt...ce-space-fill/

Optimism prevails as 3 World Trade Center opens with half the office space still to fill

BY KYLE CAMPBELL
JUNE 13, 2018

Along with seeking tenants for the remaining floors of 3 World Trade, Tighe and company also are on the hunt for an anchor tenant for Tower 2, which will be the second tallest building in the district at 1,340 feet tall with 2.8 million s/f of office space.

Tighe said the anchor tenant will have to sign on for at least 800,000 s/f before construction can begin, which she said is no small task. However, given the current business market and the rapid progress being made in the surrounding area, she remains confident such a tenant can be found.

“The good news is we’re in a moment when companies are growing,” she said. “GroupM isn’t even a 20-year-old company, who would have imagined that they would anchor this building? It’s amazing. I think we’re going to get a similar 21st-century company to anchor Tower 2 for us.”

http://www.downtownexpress.com/2018/...nd-2-wtc-site/

Street art: Murals commissioned around 2 WTC site

June 8, 2018
Bill Egbert

A spread of murals dozens of feet high are in the works at 2 World Trade Center — where Silverstein Properties plans to build another soaring skyscraper as part of its nearly two-decade-long redevelopment of the WTC campus. But for now, the building is built out only to the ground floor, with plenty of blank, street-level wall space, so the developer is trying to put that to good use by commissioning some colorful public art.

After the success Silverstein Properties had transforming the 69th floor of 4 WTC to a street-art-style office space which enticed music-streaming company Spotify to move its headquarters there, the developer decided to take the concept to the streets.

The six artists Silverstein commissioned — many of whom worked on the 4 WTC project — are glad that this will be a more public showcase than an office tucked away 600 feet in the sky.

“I don’t like my work being hidden,” Hektad said. “When I paint in the street, it’s for the people. It’s not for me. It’s for the joy — to take pictures and photos.”

The murals are expected to remain for six months to a year, depending on when the developer is able to secure anchor tenants and finally begin construction of the last major piece of Silverstein’s WTC redevelopment plan.

[NYguy]

A look at the murals...


JUNE 11, 2018



























Silverstein is no stranger to public art on stalled construction projects...

(30 Park Place)

[TechTalkGuy]

Nice artful murals.

[nickguar]

What are the odds the final design is a twin of 1WTC?

[Zerton]

Originally Posted by nickguar

What are the odds the final design is a twin of 1WTC?

Pretty low, unfortunately.

Imo, it would be amazing if 2WTC kind of echoed 1WTC. As in it looks a lot like it but with noticeable design changes. More like brothers rather than twins.

Something similar to what they did with the China World Towers in Beijing: