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  1. #1

    Default 1 New York Place

    NY Times.

    Tall Tower Near Ground Zero Is Proposed

    By CHARLES V. BAGLI

    A developer who has built a dozen residential towers in the relatively safe environs of the East Side now wants to plunge into uncertain waters downtown, with a new 90-story skyscraper that would be the second-tallest building in New York City — and only a block from ground zero.

    Friends of the developer, Trevor Davis, describe him as a visionary for his designs for a building that would be 1,050 feet tall, 4 feet taller than the Chrysler Building, but 200 feet shorter than the Empire State Building, on a block at Broadway and Fulton Street.

    But other real estate executives wonder if he is less a visionary than someone who is seeing things that are not there. After all, there are 15.4 million square feet of empty office space downtown, more than the entire commercial market in Atlanta. And after Sept. 11, a lot of people do not want to sleep or work at the top of a tall tower, especially one in that location.

    Mr. Davis is undeterred. "I typically don't chase pipe dreams," he said, his soft accent hinting at his South African origin. "I'm looking seven years in advance. I think that downtown has all the ingredients to be the next attractive location, for residential and retail space, and a finite amount of office."

    Designed by Kohn Pedersen Fox, the $680 million, 1.3-million-square-foot tower would be called 1 New York Place and combine shops on the bottom floors with 679,000 square feet of office space and 68 floors of apartments on top of the offices, on an entire block on Broadway, between Fulton and John Streets.

    The Metropolitan Transportation Authority is planning to build a $750 million transit hub in the tunnels below the site, which would link the myriad subway and rail lines that run across Lower Manhattan. If that happens, Mr. Davis said, he could build overhead.

    He said he recognized that the downtown office market was slow, but believed that residential and retail development would spur a downtown revival. Commercial projects, he said, will follow the creation of a new residential neighborhood.

    "This is a very tall building that'll be a landmark," said Julie Menin, a restaurant owner and the founder of Wall Street Rising, a group active in rebuilding retail life downtown. "It'll restore the 24-7 vibrancy that is so sorely needed."

    Mr. Davis's partners in the project are Aby Rosen and Michael Fuchs, principals of RFR Holding, a German real estate company.

    "Today, everyone is doomsday about downtown," Mr. Rosen said. "You've got to look 10 years ahead."

    Charles A. Gargano, chairman of the Empire State Development Corporation, said he had met with Mr. Davis. "I'm betting on the future," Mr. Gargano said. "He's very enthusiastic about it."

    Still, Mr. Davis faces enormous hurdles.

    The first may be acquiring the site, comprising 18 parcels with seven owners, including Marble Collegiate Church. In anticipation of the transit project, which was under discussion well before the terrorist attack, Brookfield Financial Properties had considered buying the land in 2000 for a new skyscraper. Mr. Davis said he was in discussions with the owners. But one executive who knows the owners said the transportation authority was expected to condemn the block and might pay a higher price for the properties than a developer. "I don't know why they would talk" to Mr. Davis, the executive said.

    There is also all that vacant office space downtown and more to come, while Wall Street lays off thousands.

    Later this month, Larry A. Silverstein, the developer, plans to show off his plans to rebuild 7 World Trade Center, a tall skyscraper at Vesey and Greenwich Streets. Edward J. Minskoff, another developer, has been saying for more than a year that he would build a skyscraper nearby on city-owned land where he is the designated developer. But neither Mr. Minskoff nor Mr. Davis is likely to get financing for the projects because neither of them has a corporation willing to lease much of the space, a requirement of any lender. Mr. Silverstein has insurance money that will let him get off the ground.

    Finally, there is a question of whether New Yorkers are still willing to pay a premium to live and work high up in the clouds. Richard A. Grasso, chairman of the New York Stock Exchange, abandoned plans for 50-story tower over a new trading complex, out of fear that the 900-foot-tall tower would be a target.

    Nathan Z. Dershowitz said lawyers and clerks in his office had become so nervous about being on the 79th floor of the Empire State Building that he had moved his small firm to the third floor of a building on Fifth Avenue. "There was a real level of discomfort about being up that high and of being a potential target," he said.

    But as long as there is not another attack, real estate executives said, fears will continue to subside. "New York is a high-rise city," said Mitchell Moss, director of the Urban Research Center at New York University. "There is no better combination for urban living than being near the streets of Manhattan and close to heaven."

  2. #2

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Now were talking, this is NY's tallest proposal since Donald Trump and the 1980's. Great news!

  3. #3

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    I think Trump's NYSE proposal was the tallest, but this just shows there are still developers willing to build big - and a block from the WTC site....

  4. #4

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    You're right. The tallest non Trump proposal since the 1930's.

  5. #5

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    KPF is another reason to get excited. *Are there any renderings available?

  6. #6
    Moderator NYatKNIGHT's Avatar
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    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Hooray! That's what I'm talkin' about.

    I think that downtown has all the ingredients to be the next attractive location...

    "Today, everyone is doomsday about downtown," Mr. Rosen said. "You've got to look 10 years ahead."

    It's good to hear this attitude, we've heard too much about fear lately.

    A thousand-footer there would also help soften the impact of a much taller structure at World Trade.

  7. #7

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Exciting news but the Times is being so negative about it if you read carefully and for that matter everything else to do with building downtown it seems.

    I don't buy the "competition with their new tower" theories but I just can't explain why they are being so negative about downtown developement.

  8. #8

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Very cool.

  9. #9

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    JM Garcia, that is just what I was thinking. *But there doesn't seem to be any negativity from them about their own future tower...

    Finally, there is a question of whether New Yorkers are still willing to pay a premium to live and work high up in the clouds. Richard A. Grasso, chairman of the New York Stock Exchange, abandoned plans for 50-story tower over a new trading complex, out of fear that the 900-foot-tall tower would be a target.

    Nathan Z. Dershowitz said lawyers and clerks in his office had become so nervous about being on the 79th floor of the Empire State Building that he had moved his small firm to the third floor of a building on Fifth Avenue. "There was a real level of discomfort about being up that high and of being a potential target," he said.


    For one thing, Richard Grasso is one person (who wanted to abandon the entire city btw, not just the tower). *And for another, there's the Trump World Tower, Bloomberg Tower, AOL/Time Warner towers. *I think the New Yorkers who are willing to buy such apartments in the clouds are plenty. *Since most of the floors in this building are residential, I would like to see how the NIMBYs are going to spin this one. *Especially after all the calls for more housing Downtown...

  10. #10

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    I agree.
    The project makes sense.
    Could be a way to relearn how to build tall in NY. Much like the effect the John Hancock Center had in Chicago.

  11. #11
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    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Sounds interesting, I'm not getting any hopes up but sounds interesting

    If the offiuce glut argument eventually wins, he can simply replace those floors with more apartments and more floors

  12. #12

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Notice the ending. I don't see why the article shouldn't have addressed the issue as long as it came to the right conclusion.

  13. #13
    Moderator NYatKNIGHT's Avatar
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    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Yes, it is the right conclusion.

    I see the rendering in the Times. It has a broad, low base covering the entire block with an angular atrium type roof in the middle. The tower rises out of one corner. It is slender, starts out boxy, then a minor setback, then rises very tall, slightly tapering to a flat top. I will attempt to scan it tomorrow if we can't get a rendering.

  14. #14

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    This is very exciting! I think this could be the start of what will revatalize downtown. It could also off set the fear of building the new WTC so tall!
    We cannot let terrorist stop what this city is.....
    skyscapers!

  15. #15

    Default Tall Tower Near Ground Zero Is Proposed - 90 Stories

    Here's a pic of the model from the Times - no detail is shown so we don't have any idea of the finish or facade. It's more of a massing model.

    With the building being square almost to the top and about 100 ft higher than the spires of of 40 Wall and 60 Pine it will be even more of a mark on the skyline.


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