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View Full Version : NEW YORK | 50 West Street | 714 FT / 213 M | 69 FLOORS



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NYguy
Jun 17, 2008, 12:02 PM
To compliment NYGuy's Downtown's tallest residentials, here are the 5 tallest office towers under construction or with construction imminent. Does not include 5wtc (Deutsche Bank Site) since there are no clear propolsals for the site yet.

http://img237.imageshack.us/img237/4760/lmtowersql3.jpg


http://www.pbase.com/nyguy/image/98797404/large.jpg

Together, that's a whole lotta scrapin goin on...

Lecom
Jun 17, 2008, 3:12 PM
a quick render of the tower's impact on the west side made from a photo posted by NYguy from pmarella, using an official render

http://img75.imageshack.us/img75/8340/50westjg4.jpg

tdawg
Jun 17, 2008, 5:31 PM
If all those proposals are built as they are rendered, Downtown will finally hold its own against Midtown again.

NYguy
Jun 17, 2008, 9:23 PM
If all those proposals are built as they are rendered, Downtown will finally hold its own against Midtown again.

It's impressive. All of those towers are under construction, or will be before the end of the summer, except for 111 Washington, which starts early next year.

NYguy
Jun 17, 2008, 9:24 PM
a quick render of the tower's impact on the west side made from a photo posted by NYguy from pmarella, using an official render

http://img75.imageshack.us/img75/8340/50westjg4.jpg

The lower Manhattan sklyine will be so different in a couple of years, almost a new city, in such a relatively small area.

NYC4Life
Jun 17, 2008, 11:32 PM
So much smaller than Midtown in area, but even more compact. Can't wait to see that skyline rise.

photoLith
Jun 18, 2008, 3:24 AM
Wow downtown will look so sexy with all of those new towers rising! I cant wait to see it in 6 years or so when all of this will be done. Some of those towers look like they come right of science fiction movies, I cant believe it! You guys are so lucky to be living there!

NYC4Life
Jun 18, 2008, 5:00 AM
To think that amongst those towers, we still have at least 1 more left that has yet been decided on what will be built (5WTC / Deutsche Bank Site). Also sites such as 80 South Street is still up for grabs since the Calatrava tower was canceled.

antinimby
Jun 18, 2008, 5:50 AM
How come the sun's orange glow is on every building except for 50 West?

NYC4Life
Jun 18, 2008, 6:49 AM
How come the sun's orange glow is on every building except for 50 West?


LOL...it's only a render, though in the render 50 West itself appears to be on top of one of the Battery Park City's apartment towers, rather than being a seperate building. The sun didn't catch a glow on GS either.

Lecom
Jun 18, 2008, 3:00 PM
How come the sun's orange glow is on every building except for 50 West?

Because it's a quick chop I made in MS Paint in five minutes, and I don't care about the issue enough to even open Photoshop for it.

StatenIslander237
Jun 19, 2008, 5:46 AM
If all those proposals are built as they are rendered, Downtown will finally hold its own against Midtown again.

Are you kidding? Downtown would destroy Midtown! :D There'd be no contest. The only way Midtown could own Downtown even after all these, would be if they completed one KICK-ASS Hudson Yards and MSG/Moynihan complex. :notacrook: ...and then New York would just about blow every other city on Earth out of the water.

I love this town. :rolleyes:

NYguy
Jun 19, 2008, 1:27 PM
Are you kidding? Downtown would destroy Midtown! :D There'd be no contest.

Even with all of this, Downtown is still no match for Midtown. Downtown is hindered by size alone.

Dac150
Jun 19, 2008, 1:41 PM
As far as dominance goes Midtown is virtually a wall of skyscrapers from side to side of the island, as Downtown is more compact and consolidated to the tip. Both areas are dense but Midtown is larger and will only get larger within the next decade or so. Between Hudson Yards, the MSG potential, the growing 42nd Street corridor, and so on Midtown is just growing and expanding tremendously. Downtown however has limited, if any, room to expand which calls for the construction of skyscrapers in highly compact fashions.

Once this building boom comes to an end, short of demolition, Downtown will be virtually tapped out to new construction. The only options will be to pull another ‘Battery Park City’ or expand into SoHo and so on (which will be a battle at best).

photoLith
Jun 19, 2008, 4:28 PM
I made a map that shows all of the historic districts in lower Manhattan. These districts are protected and it shows where highrises most likely will never go but the rest is fair game! ;) It took me a long time to put this together as I could not find a map that showed them all together so I had to plot out each one individually and put them together. http://flickr.com/photos/photolitherland/2593270504/sizes/o/ I still dont know how to put the photo on here.

philvia
Jun 19, 2008, 5:32 PM
the housing projects just off brooklyn bridge should be the next to go

Lecom
Jun 19, 2008, 5:42 PM
the housing projects just off brooklyn bridge should be the next to go

Unless they have some big project in the works for the Southbridge Towers site, I doubt we'll see them go any time soon. If anything, they're much more likely to renovate them and perhaps add a couple of new towers in between, just like they were proposing for Stuyvesant Town. These aren't low income ghetto blocks, and this isn't Chicago where old projects are imploded/demolished left and right.

antinimby
Jun 27, 2008, 4:04 PM
http://curbed.com/uploads/2008_6_helmut2.jpg

scalziand
Jun 27, 2008, 4:19 PM
So now we know for sure that the roof is sloped.

Hoodrat
Jun 28, 2008, 6:38 AM
Great render.

NYguy
Jun 28, 2008, 12:03 PM
I tell you, this tower gets better with every rendering...I may even like it better than Gehry's....

http://curbed.com/uploads/2008_6_helmut2.jpg

A shame that such a beauty could be overshadowed by everything else that's happening Downtown...

NYC4Life
Jun 28, 2008, 6:05 PM
^^ In that case, that's a very good thing :cheers:

photoLith
Jun 28, 2008, 10:46 PM
That is one of the most beautiful buildings that i have ever seen, the design is so smooth looking and the glass in that render is incredible!

CGII
Jun 29, 2008, 1:16 AM
Looks like Forte.

NYC4Life
Jun 29, 2008, 6:46 AM
The thread's title should be changed to "Under Construction"

NYguy
Jun 29, 2008, 11:18 AM
That is one of the most beautiful buildings that i have ever seen,

It's almost too beautiful to look at. We're not worthy...:worship:

BTW, I don't know what that other building is in the left of the rendering...

photoLith
Jun 29, 2008, 5:54 PM
Could that possibly be one of the new building at the world trade center and they just included it in the render, because i dont recognize it either. ^^^

scalziand
Jun 29, 2008, 7:25 PM
I've been imaging it to be 4 wtc.^^^

NYguy
Jun 30, 2008, 12:37 PM
I've been imaging it to be 4 wtc.^^^

4 WTC doesn't have a roof like that...and it's not one of the Washington Street towers that we know...

hartss
Jun 30, 2008, 4:08 PM
http://www.observer.com/2008/real-estate/developer-breaks-ground-green-hotel-eats-organic-breakfast

Developer Breaks Ground On Green Hotel, Eats Organic Breakfast
by Dana Rubinstein | June 27, 2008

http://www.observer.com/files/imagecache/vertical/files/50weststreet.jpg
Image Credit:Quinn and Company


Rendering of 50 West Street.Developers broke ground on the silver-skinned, 65-story tower planned for 50 West Street in Lower Manhattan.

On June 23, New York-based developer Time Equities Inc. marked the occasion with, appropriately enough, an organic breakfast from the local bakery Financier.

Not only was the breakfast-cum-groundbreaking religiously eco-friendly, but it was also religious.

According to the release, "Vicar Anne Mallonee, The Reverand Mark Bozzuti-Jones and Rabbi Schmaya Katz blessed the site and spoke of hospitality, unity and sustainability as they welcomed their new neighbor."

It's all in keeping with the firm's meticulous political correctness. The developers are anticipating that the residential and hotel building will get LEED-gold certification thanks to the incorporation of technologies like a green roof, water-efficient plumbing, automated blinds, and sustainable construction materials.

Read the full release below:

Groundbreaking of Skyline-Changing Tower Downtown

New York-based developer Time Equities, Inc. hosted a groundbreaking event on June 23 to celebrate Lower Manhattan’s iconic hotel and residential skyscraper, 50 West Street. Over 100 guests, including politicians, community officials and project partners, joined Time Equities to break ground on the site of the 65-story tower and enjoy organic breakfast catered by local bakery Financier.

With a soaring 20-foot banner of 50 West Street in the background, honored guests Seth Pinsky, president, Economic Development Corporation and Alan Gerson, Councilmember, joined Francis Greenburger, CEO and Chairman, Time Equities, on stage to speak about the importance of this extraordinary addition to Lower Manhattan. Vicar Anne Mallonee, The Reverand Mark Bozzuti-Jones and Rabbi Schmaya Katz blessed the site and spoke of hospitality, unity and sustainability as they welcomed their new neighbor.

This green residence and boutique hotel, which anticipates LEED-Gold certification when completed, will include sustainable technologies, such as a green roof, water-efficient plumbing fixtures, automated blinds and energy control systems. Demolition waste will be recycled, and the new construction materials will be sustainable and rapidly renewable. Both hotel and residences will feature an energy efficient glass facade to promote use of daylighting and filter UV rays.

The 50 West Street project is expected to create 740 construction jobs and 175 permanent jobs. As a fantastic example of public-private partnership, Time Equities will donate $4.6 million to the Department of Housing Preservation and Development’s affordable housing preservation fund, $350,000 to the NYC Board of Education for a Lower East Side Space Sciences Center and $430,000 to local P.S./I.S. 89 for a computer science program including computers for a new computer lab.

Designed by world-renowned architect Helmut Jahn, the $600 million, 580,000-square-foot mixed-use tower will be completed in 2011. The project will provide a critical pedestrian passageway that links the southern part of Battery Park City to Wall Street, Rector Street’s booming retail corridor, and Downtown transportation hubs. 50 West Street will contain 280 residential units and 155 hotel and retail units. The architect of record is New York City-based Gruzen Sampton.

Lecom
Jun 30, 2008, 4:15 PM
BTW, I don't know what that other building is in the left of the rendering...

Those are the old Libeskind WTC placeholders.

NYguy
Jun 30, 2008, 9:08 PM
^ Libeskind, something not missed at the WTC site...

http://www.observer.com/2008/real-estate/developer-breaks-ground-green-hotel-eats-organic-breakfast

Developer Breaks Ground On Green Hotel, Eats Organic Breakfast
by Dana Rubinstein | June 27, 2008

Developers broke ground on the silver-skinned, 65-story tower planned for 50 West Street in Lower Manhattan.

On June 23, New York-based developer Time Equities Inc. marked the occasion with, appropriately enough, an organic breakfast from the local bakery Financier.

Designed by world-renowned architect Helmut Jahn, the $600 million, 580,000-square-foot mixed-use tower will be completed in 2011.

Nice to get another one underway...:cheers:

Fabb
Jul 1, 2008, 4:47 AM
the glass in that render is incredible!

It is.
I wouldn't be surprised if the cladding turned out to be darker and/or more reflective.

antinimby
Jul 1, 2008, 6:48 AM
Making the glass reflective would be a big mistake. It would turn out looking like the glassy portion of the Oro (pic below) and that is not necessarily a good thing.

Clear glass would be much more beautiful and classy.

http://i195.photobucket.com/albums/z70/Scruffy66/saya/DSC02691.jpg

Scruffy
Jul 4, 2008, 4:35 PM
the public park they are making is really nothing for than a swollen sidewalk between the tower and the parking garage. im alright with that, but I hope it doesn't come back to bite em on the ass

scalziand
Jul 4, 2008, 10:10 PM
I never got the impression that the developers were ever making it out to be more than a side walk in the first place.

NYguy
Jul 14, 2008, 12:01 PM
http://www.downtownexpress.com/de_271/workat50.html

Work at 50 West

July 11 - 17, 2008


Time Equities is adding safety measures and traffic mitigation to its construction at 50 West St. that go beyond what the city’s code requires.

The developer just broke ground on the 65-story condo and hotel tower, which will rise above street level next summer and open for occupancy in 2011.

To increase the site’s safety, Time Equities is hiring an extra site safety manager, holding weekly toolbox talks with shop foremen and employing a 24-hour fire watchman and security detail, said Dermot Johnson, director of project management for Time Equities

Time Equities also worked with the Lower Manhattan Construction Command Center on a traffic flow study of the neighborhood, planning how HRH Construction, the contractor, will get materials on and off the site. Under the plan, trucks turn off West St. onto Rector St. and then turn down Washington St. The construction site extends east into Washington St., taking up one lane and giving the trucks on-site space to unload.

“That’s much safer for pedestrians,” Johnson said. When workers unload trucks on public streets and then move the materials into the private site, there is a chance that pedestrians could get caught in the middle and get hurt.

“I was very impressed by it,” said Ro Sheffe, chairperson of Community Board 1’s Financial District Committee, after seeing a presentation of the plan. “I’m glad to hear the builders are taking measures beyond what is required by the code.”

HRH Construction is working one shift from 7 a.m. to 3:30 p.m. Monday through Friday, and Johnson does not anticipate many variances to do work beyond those hours. The site will have one tower crane to build the tower, but it will not arrive until at least next summer.

Johnson said his team looks at the construction accidents that happen in the city and around the country to see what they can learn from them. At the same time, he added, “We try to focus on our job, what we’re doing.”

--Julie Shapiro

philvia
Jul 14, 2008, 3:47 PM
8.5 hours a day? --1 hour for lunch
7.5 hours a day?? this is going to take forever lol

NYC4Life
Jul 15, 2008, 5:28 AM
One year to have the tower crane operating, that's a long time.

NYguy
Jul 15, 2008, 12:36 PM
One year to have the tower crane operating, that's a long time.

Not unusual, that's about what it takes for these towers to get off in New York. Just look at 123 Washington St, up the block. That took over a year before work got serious.

scalziand
Jul 15, 2008, 1:49 PM
Yeah, you don't really need a tower crane to do the foundation works.

aliendroid
Sep 14, 2008, 3:59 PM
I'm looking forward to seeing this building in person someday.

scalziand
Oct 25, 2008, 8:09 PM
From LowerManhattan.info (http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx):
*The following information was last updated on October 21, 2008.

* Caisson and pile driving from September 16 to December 1, 2008, between 7 a.m. and 5 p.m. on weekdays
* Foundation preparations
* Coordinating utilty tie-ins
* Monitoring for roadway settlement on West Street
Looks like this will finally start to go skyward in December, then.

NYguy
Oct 25, 2008, 9:38 PM
From LowerManhattan.info (http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx):

Looks like this will finally start to go skyward in December, then.

This is one of a few that have been put on hold in New York.

NYguy
Oct 25, 2008, 9:41 PM
Here's the reason:
http://downtownexpress.com/de_285/undercover.html

50 West delay

Another casualty of the free-falling economy is 50 West St., the condo tower Time Equities hopes to build in Greenwich St. South.

Francis Greenburger, C.E.O. of Time Equities, told Crain’s New York Business last month that the firm is slowing work on 50 West’s foundation, because he doesn’t have a construction loan to build the 65-story tower.

“Our main bank group told us they can’t do it now,” Greenburger told Crain’s. “They advised us to come back to them in the spring.”

UnderCover called Greenburger’s spokesperson for more information, but she would not confirm anything and would not give a new completion date for the tower. The building was supposed to rise above ground next summer and open in 2011.

The luxury tower was not one of the community board’s favorite projects, but that doesn’t mean board members are happy to see it stalled.

“The last thing this community needs is another uncompleted project…or another hole in the ground,” said Catherine McVay Hughes of Community Board 1. “Hopefully the financing will come through and what was promised can be realized.”

ZZ-II
Nov 23, 2008, 3:04 PM
what's going on at the site now?

NYguy
Dec 3, 2008, 11:51 PM
http://ny.therealdeal.com/articles/50-west-street-completion-date-delayed

50 West Street completion date delayed

12/03/08
By David Jones

Time Equities said its $600 million hotel and condominium project at 50 West Street could be delayed until 2012 as the market for new construction financing in New York has all but dried up.

After originally breaking ground in June, the New York-based developer said it has a bridge loan to complete the tower's foundation, but warned that construction financing will likely be delayed until third-quarter 2009.

"It's been a difficult financing market for a year now, but it's gotten tremendously more difficult in the last 90 days," said Phillip Gesue, director of acquisitions and development at Time Equities.

The 65-story building was expected to be one of the crown jewels in the city's effort to convert Lower Manhattan into a full-time residential neighborhood. Famed architect Helmut Jahn of Chicago is designing the 580,000-square-foot tower, which is slated to include a 155-room luxury hotel, a 280-unit condominium and ground floor retail space. Jahn, of Murphy/Jahn Architects, previously designed Park Avenue Tower, at 65 East 55th Street; 425 Lexington Avenue at 44th Street; and Cityspire, at 150 West 56th Street.

The tower was also expected to receive a LEED-Gold rating, offering environmentally friendly features such as a green roof, automated window blinds, energy control systems and recycled construction materials.

As part of the agreement, the New York State Energy Research and Development Authority is providing some of the financing for the project. Time Equities is donating $4.6 million to the city Department of Housing Preservation and Development's affordable housing preservation fund.

The project was originally scheduled for completion by mid-2011, however the lack of financing forced the developer to push the completion date to late 2011 or early 2012, Gesue said.

The delay is not unique to Time Equities, as an August report released by CB Richard Ellis shows. The report noted that 30 percent of the city's new hotel inventory would be delayed or canceled before the end of 2010 due to increased construction costs, tight capital market and the economic downturn.

CBRE now estimates that 69 hotels with 10,836 rooms will open in New York before the end of 2010, which is a 23 percent drop from previous estimates.

Attorney Mark Fawer, chairman of the real estate department at Dreier LLP, said that some developers, even if they can obtain financing, will have to make tough decisions about the long-term potential of new hotel and condo combinations.

"New buyers may look to either hold the land until the market recovers and operate them as a condo project down the road," he said. "Alternatively, they may look to reconfigure the project as rental apartments as opposed to for-sale condos."

NYC4Life
Dec 7, 2008, 3:14 AM
With the lack of construction funding and the current state of the economy, a one year delay is not at all terrible.

NYguy
Dec 7, 2008, 12:24 PM
With the lack of construction funding and the current state of the economy, a one year delay is not at all terrible.

No, it isn't. As long as the city gets what is due, it shouldn't matter to us if it opens a little later. Though I think this will be one of the most beautiful Downtown, in the long scheme of things, a delay won't matter.

NYguy
Dec 21, 2008, 12:22 AM
lowermanhattan.info

http://lowermanhattan.info/construction/gallery/photos/13_50-west-str1.jpg

50 West is located between West and Washington Streets at J.P. Ward Street (just north of the Brooklyn-Battery Tunnel entrance), the new development will replace three existing buildings on that block with a new 63-story (725-foot) residential tower and hotel.

scalziand
Jan 7, 2009, 7:22 AM
I just realised that this kind of looks like the Uptown Munchen in Munich.
http://upload.wikimedia.org/wikipedia/commons/thumb/e/e3/Uptown_munich.JPG/398px-Uptown_munich.JPG (http://en.wikipedia.org/wiki/File:Uptown_munich.JPG)
I think that it will give a good idea of how 50 West will look when completed, with the exception of the round vents.

NYguy
Jan 7, 2009, 10:31 PM
I just realised that this kind of looks like the Uptown Munchen in Munich.

hmmm...

http://curbed.com/uploads/2008_6_helmut2.jpg

spyguy
Jan 7, 2009, 11:03 PM
I think 600 N Fairbanks is probably closer to this tower since it's one of Jahn's latest buildings

http://www.schatzdevelopment.com/sigprop/sigpropex06.html

NYguy
Jan 8, 2009, 6:16 AM
That's somewhat similar also...

http://www.observer.com/files/imagecache/vertical/files/50weststreet.jpghttp://www.schatzdevelopment.com/_img/prop/propex06.jpghttp://www.schatzdevelopment.com/_img/prop/propex04.jpg

NYguy
Jan 16, 2009, 5:54 AM
Quote from the NY Post...
http://www.nypost.com/seven/01152009/realestate/waiting_game_150209.htm

CREDIT CRUNCH HAS LEFT MANY MAJOR PROJECTS IN THE LURCH

By Lois Weis
January 15, 2009

Downtown, Time Equities has owned the site at 50 West St. for many years. CEO Francis Greenburger says he doesn't have to make a decision on moving forward with a 65-story hotel and residential tower designed by Helmut Jahn until later this year and can then decide to "landbank" it for a better time.

He already has some permits and some financing for the new building.

CSABA8
Jan 18, 2009, 4:57 PM
Can't believe it - another delay , This economic crisis is a son of a b...

Busy Bee
Jan 18, 2009, 5:56 PM
A delay is still better than a cancelation. Always look on the bright side of life:)

NYguy
Jan 18, 2009, 11:34 PM
Well, this one has been delayed for a while, but in the end, if it gets built, it doesn't matter.

NYguy
Mar 28, 2009, 10:42 PM
http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx

The following information was last updated on March 24, 2009.

-Caisson and pile driving has been suspended due to facade work happening at 90 Washington Street
-Foundation preparations are currently on hold
-Coordinating utilty tie-ins
-Monitoring for roadway settlement on West Street
-Sidewalk fence on West Street will be relocated
-Washington Street sidewalk will be restored
-Signs will be installed by restored sidewalks

NYguy
Mar 28, 2009, 10:58 PM
Could that possibly be one of the new building at the world trade center and they just included it in the render,


http://www.jetsongreen.com/images/2008/08/11/50_west_street_nyc_skyline_view_300.jpg

http://www.jetsongreen.com/2008/08/leed-gold-50-we.html

NYguy
Apr 20, 2009, 10:24 PM
Stalled update from NY Magazine...
http://nymag.com/news/articles/09/04/ghostbuildings/index5.html

http://images.nymag.com/news/articles/09/04/ghostbuildings/images/5.jpg

ANNOUNCED: June 2008
PLAN: A 65-story tower containing 280 condominiums and a 155-room luxury hotel.

STATUS: Construction began last summer but stopped after a few months. In December, The Real Deal reported that “construction financing will likely be delayed until third-quarter 2009.”

“The project is on temporary suspension right now,” says Dermot Johnson of Time Equities.

NYguy
May 15, 2009, 4:22 AM
Not much change here:
http://lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx

The following information was last updated on May 13, 2009.

-Caisson and pile driving has been suspended due to facade work happening at 90 Washington Street
-Foundation preparations are currently on hold
-Coordinating utilty tie-ins
-Monitoring for roadway settlement on West Street
-Sidewalk fence on West Street will be relocated
-Washington Street sidewalk will be restored
-Signs will be installed by restored sidewalks

THE BIG APPLE
Jun 7, 2009, 11:18 PM
Love this building must be built.

THE BIG APPLE
Jun 12, 2009, 3:19 AM
http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx

*The following information was last updated on June 11, 2009.

-Caisson and pile driving has been suspended due to facade work happening at 90 Washington Street
-Foundation preparations are currently on hold
-Coordinating utilty tie-ins
-Monitoring for roadway settlement on West Street
-Sidewalk fence on West Street will be relocated
-Washington Street sidewalk will be restored
-Signs will be installed by restored sidewalks

sbarn
Aug 19, 2009, 3:36 AM
I walked by this site today, still quiet. Anyone have word whether this one is dead or whether it will eventually move forward? :shrug:

Crawford
Aug 19, 2009, 3:46 AM
They are still hunting for financing, so it will not break ground until banks start lending again.

Banks have just begun loosening up things, so many of these stalled projects should start moving forward in 2010.

Lecom
Aug 19, 2009, 3:31 PM
They are still hunting for financing, so it will not break ground until banks start lending again.

Banks have just begun loosening up things, so many of these stalled projects should start moving forward in 2010.
I called BS when you said the Chicago Spire will go on hold, back in the day, and what do you know - it came true. So, once again, you may be right this time, for all we know.

Dac150
Aug 19, 2009, 4:17 PM
Wouldn’t surprise me if that would come to be the case. Times have changed to a degree and banks are getting to the point where they are a tad more comfortable in lending. So who knows, we’ll just have to wait and see. Either way something will go there in time.

NYguy
Aug 20, 2009, 5:53 AM
I'm looking forward to watching this one rise, one of my favorites Downtown. We're already approaching the end of the year, so if they could resume by the spring or so, we're good.

Lecom
Aug 20, 2009, 3:06 PM
But they do need to reclad that ugly bastard to the north.

NYguy
Sep 1, 2009, 9:23 PM
http://www.tribecatrib.com/news/2009/august/305_arrested-developments.html

Awaiting Megadollar Loans, Grand Plans Lie Fallow Downtown

By Carl Glassman
Sep. 01

http://www.tribecatrib.com/images/stories/2009/september/pits-50west.jpg

Developer Time Equities broke ground in June 2008 on a 66-story hotel/condo tower at 50 West Street. It was a grand affair, with the company’s CEO Francis Greenberger and city officials joined by a vicar, a reverend and a rabbi to bless the site. More than a year later, divine intervention may still be in order. By fall the work had stopped and today that ground remains a neatly maintained but dusty lot. Designed by architect Helmut Jahn, the $600-million mixed-use tower was to include a hotel on the first 14 floors, condominiums above and a public plaza.

According to a Time Equities source, who did not want to be identified, delayed completion of the foundation means that construction now must wait, not due to financing, but because the work can’t coincide with the State Department of Transportation’s planned reconstruction of West Street. “The impact that [foundation work] would have on the water table makes it not feasible for us to build,” the source said.

Zapatan
Sep 2, 2009, 3:44 AM
Aaw man that's ashame this building would have been beautiful! Man hard times in New York, so many great projects are getting/going to be cancelled, we need a developer that actually has enough money to propose a building in this city.

scalziand
Sep 2, 2009, 5:06 AM
This isn't a cancellation; just another delay until they can possibly start working on it again.

Wheelingman04
Sep 2, 2009, 5:16 AM
It better get built!

sbarn
Sep 2, 2009, 2:28 PM
Aaw man that's ashame this building would have been beautiful! Man hard times in New York, so many great projects are getting/going to be cancelled, we need a developer that actually has enough money to propose a building in this city.

Its not that we need a developer with money (that's not the issue, few people have a billion dollars handy)... we need banks to start lending money to developers so they can get these projects off the ground.

I think some time next year, a bunch of these towers will start going up.

NYguy
Sep 2, 2009, 10:52 PM
Its not that we need a developer with money ... we need banks to start lending money to developers so they can get these projects off the ground.

That's right, there are towers around the world that would be rising, except for the lack of financing. It's a temporary problem, but a problem for developers all around.

NYguy
Sep 4, 2009, 6:07 AM
http://www.tribecatrib.com/news/2009/august/305_arrested-developments.html

http://www.tribecatrib.com/images/stories/2009/september/pits-50west.jpg

nabil.s (http://www.flickr.com/photos/k4ffy/3436730972/sizes/l/in/set-72157604357641127/)

http://farm4.static.flickr.com/3583/3436730972_da0beb34c5_b.jpg

Zapatan
Sep 4, 2009, 8:30 AM
What?!? they built a parking garage there??

scalziand
Sep 4, 2009, 11:18 AM
^^Naw, That's the Brooklyn-Battery parking garage. 50 West is the little lot next to it on the left. It's going to be one skinny tower.

NYguy
Sep 4, 2009, 1:43 PM
LOL, yeah that parcking garage has been there for years. Reportedly, the City is looking for ways to distribute about 4 to 5 msf of residential development rights from the garage.

NYC4Life
Sep 4, 2009, 5:36 PM
Unfortunate that buildings have to be demolished before these developers realize they are short on cash.

Zapatan
Sep 4, 2009, 8:07 PM
jaja I got scared there for a second

hunser
Nov 8, 2010, 12:32 PM
still on hold...

http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx

*The following information was last updated on November 5, 2010.

* Foundation preparations are currently on hold
* Monitoring for roadway settlement on West Street

Tex17
Nov 9, 2010, 9:33 PM
That's actually pretty cool how the garage is suspended over the street there. And it looks like a newer portion tied in to an older garage structure at the back?

Wow, 50 West will be really shoehorned in that little lot there.

scalziand
Nov 10, 2010, 5:31 AM
Wow, 50 West will be really shoehorned in that little lot there.

Keep in mind that the footprint wont even occupy the entire site. A portion will be kept clear for a side walk that bypasses the garage between West street and Washington street.

hunser
Mar 7, 2011, 9:14 PM
nothing new... :(

http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx

*The following information was last updated on March 4, 2011.

* Foundation preparations are currently on hold
* Monitoring for roadway settlement on West Street

RoldanTTLB
Mar 17, 2011, 5:51 PM
New permits for excavating and pouring a foundation at the site were pulled a week ago. They're live from now through 2012. We'll see if something starts happening, or if it's just to keep the site "active."

tommaso
Jun 6, 2011, 4:13 AM
We lost this building, something my heart connected with. When do we get a construction update for the new development on this site?

http://i195.photobucket.com/albums/z70/Scruffy66/DSC04917.jpg

hunser
Jun 6, 2011, 9:45 AM
^^ unfortunately, nothing new here...

http://www.lowermanhattan.info/construction/project_updates/50_west_street_72528.aspx

*The following information was last updated on June 2, 2011.

Foundation preparations are currently on hold
Monitoring for roadway settlement on West Street

RoldanTTLB
Jun 7, 2011, 6:52 PM
New permits were pulled for the site within the past few months, but it might have been to keep them active. I walk by about once a week and there's been no activity whatsoever.

Loqy Lion
Jun 12, 2011, 1:33 AM
How positive are you guys that this will get built?

SkyscrapersOfNewYork
Jun 12, 2011, 1:35 AM
How positive are you guys that this will get built?

I'm confident, but its gonna take a little more economical thawing.

SkyscrapersOfNewYork
Jun 22, 2011, 3:05 AM
another rendering

http://farm5.static.flickr.com/4090/5098041114_10064cd781_b.jpg
http://farm5.static.flickr.com/4090/5098041114_10064cd781_b.jpg

RobertWalpole
Jul 1, 2011, 1:09 AM
This New Building Permit was filed on 16 June 2011. Maybe this will start rising soon.

http://a810-bisweb.nyc.gov/bisweb/WorkPermitDataServlet?allisn=0002250551&allisn2=0000607607&allbin=1087661&requestid=2

NYguy
Jul 1, 2011, 5:20 AM
This is one of my favorites of the new Downtown residentials. I hope work does get underway by the end of the year.

RobertWalpole
Jul 1, 2011, 11:51 AM
I agree. It would be nice to see the adjacent, brown, 70's tower redeveloped. It's a market-rate rental and therefore, could be easily emptied.

Loqy Lion
Jul 1, 2011, 1:28 PM
This is one of my favorites of the new Downtown residentials. I hope work does get underway by the end of the year.

99 Church because of its height!

56 Leonard, 99 Church, 50 West, 99 Washington, WTC2, and WTC3 going up at about the same time? Only in New York. (Dubai doesn't count)

yankeesfan1000
Jul 1, 2011, 5:11 PM
Thanks for the update RW, that is great news. This is a really elegant tower, and I bike by here a lot so I'll keep an eye out for any movement.

yankeesfan1000
Jul 6, 2011, 9:08 PM
:banana::banana::banana:

From NYCurbed:

Helmut Jahn Re-Awakens at 50 West Street (http://ny.curbed.com/archives/2011/07/06/helmut_jahn_reawakens_at_50_west_street.php#helmut-jahn-alive-again-at-west-street-1)

Wednesday, July 6, 2011, by Pete Davies

http://cdn.cstatic.net/cache/gallery/5079/5906921529_c2eb243c05_o.jpg

It's only a couple blocks south of the WTC, to give a perspective:

http://cdn.cstatic.net/cache/gallery/6042/5906978203_2325d92833_o.jpg

"The big and shiny Helmut Jahn hotel/condo combo at 50 West Street is back from the dead and getting ready to rise just south of the World Trade Center site...


In the DOB's files the Schedule A shows that a 139-room hotel will cover floors 4 to 13. Up above, from floors 14 to 63, will be 301 condo units with a super-duplex on two upper floors. Way up high on Floor 65, where views should be phenomenal, a lounge will top it all off."

Loqy Lion
Jul 6, 2011, 9:36 PM
:cheers:

Skyscraperpage meeting in the lounge when it's completed!