2024 Spring Issue of Urban Land - 54

Silverstein Properties 5WTC
in Lower Manhattan will have
1,200 residential apartment
units, 400 of which are to be
permanently affordable. The
homes will be for low- and
middle-income households,
and 80 units will be reserved
for individuals who were
living or working in Lower
Manhattan during the 9/11
attacks and in their immediate
aftermath.
Sustainability plays a major role. 505 State
Street, part of the first phase, will be New
York's first all-electric skyscraper. Alloy has
enrolled the building into community solar
programs, ensuring the building will be operated
using 100 percent renewable sources.
The two public schools will be the first
schools built to the Passive House standard
in New York City, a milestone for the city and
one that, at first, was not easy to get the city's
School Construction Authority on board with,
says David McCarty, vice president at Alloy
Development.
" We've really pushed the boundaries on
the sustainability front across the block, and
I think that has an industry-wide impact, "
McCarty says. The first phase of the project
is nearing completion, with leasing having
already begun for the residential units and,
if the schools meet expectations to be completed
this spring, with students starting at
the new facilities this fall.
5. 5WTC
Last year, a deal was struck between New
York state lawmakers and a group of developers
including Silverstein Properties and Brookfield
Properties to designate a portion of the
apartment units at the forthcoming 5 World
Trade Center tower as affordable.
Last July, New York Governor Kathy Hochul
announced that the Lower Manhattan skyscraper
will have 1,200 residential apartment
units once completed, 400 of which are to be
permanently affordable. The homes will be for
low- and middle-income households, and 80
units will be reserved for individuals who were
54
URBAN LAND SPRING 202 4
living or working in Lower Manhattan during
the 9/11 attacks and in their immediate aftermath.
The
new tower will be built on the same
site where the previous 5WTC building-which
was heavily damaged during the terrorist
attacks and demolished two months later-
once stood. The Port Authority of New York
and New Jersey own the land where 5WTC
will rise, and they awarded the development
rights to Silverstein, Brookfield, and additional
partners Omni New York and Dabar Development.
" This
site was always a great opportunity to
bring large-scale affordable housing to Lower
Manhattan, a community that has lost affordability
at a particularly high rate for decades, "
said New York State Senator Brian Kavanagh
when the affordable deal was announced last
year.
Designed by architecture firm Kohn Pedersen
Fox (KPF), the new tower will also include
roughly 190,000 square feet (17,650 sq m) for
retail and office space. New York State is contributing
$60 million in funding for the project,
and an additional $5 million contribution will
come from the Battery Park City Authority's
Joint Purpose Fund.
The all-glass tower is being designed for
high energy efficiency, and it will have minimized
thermal bridging, superior insulation,
and an air infiltration barrier, according to
KPF. Details on amenities have not yet been
released, but there will be community and
amenity spaces, and the tower will link to Liberty
Park via a pedestrian bridge. UL
HOLLY DUTTON is a Brooklyn-based journalist.
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2024 Spring Issue of Urban Land

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