Archinect - News

Cuomo releases RFP for 5 World Trade Center, may include 900-foot tower and affordable housing

2019-06-26T12:10:00-04:00

The Port Authority and the Lower Manhattan Development Corporation recently arrived at a deal to develop 5 World Trade Center, the last WTC site. Today, Governor Cuomo released a Request for Proposals, which allows for either commercial or mixed-use proposals for a 900-foot-tall building. Any proposals putting forth a residential component must include “onsite affordable units that comply with New York City’s Mandatory Inclusionary Housing program,” according to a press release.

Final World Trade Center Site Will be Sold Soon

2019-06-07T16:22:00-04:00

Two state agencies that had been embroiled in a yearslong impasse over how to develop the last site at the World Trade Center appear to have resolved their differences and are planning to bring the parcel to market. The Port Authority and the Lower Manhattan Development Corp. have reached a deal to release a request for proposals in the coming months for 5 World Trade Center

Lower Manhattan Development Corporation (LMDC) head Holly Leicht explained in a meeting that "after quite a lengthy period of time of negotiation, we executed a memorandum of understanding with the Port, the LMDC and the city to move forward on an RFP for Site 5, which will be our last major site to develop," adding, "The reason for the appraisal now is because there's a base value the Port wants to get for the land."

Though the site is currently zoned exclusively for commercial development, LMDC will accept proposals for either commercial or residential uses for the site. The group is expected to issue a Request for Proposals for the site over coming weeks.

World Trade Center Performing Arts Center may be delayed again

2017-03-27T19:23:00-04:00

After 9/11, the U.S. Department of Housing and Urban Development gave $3 billion in grants to the Lower Manhattan Development Corp. to redevelop lower Manhattan. A portion of what remains is the $100 million that was to go towards the Performing Arts Center, but those involved in the project worry that disputes between LMDC and the Port Authority, who controls the land on which the Center will be built, are giving the impression that the work to revitalize the area is complete.

After nearly 13 years of delays, the Performing Arts Center at the World Trade Center (PACWTC) is facing yet another setback due to unresolved issues between the Lower Manhattan Development Corporation and the Port Authority, which could ultimately cost the $243 million project, more than $100 million in federal funding.