NEW YORK | 175 Greenwich St. | 1,079 FT | 80 FLOORS

[BStyles]

175 Greenwich is just the postal address for the tower, and can also be used for the official name:

Merril Lynch
175 Greenwich Street
New York, NY 10048(WTC has it's own zip code)

However, since it is being built in the WTC site, it will be referred to as Tower 3, or WTC 3.

[NYguy]

^ All of which should be obvious.

However, we should also keep in mind that what the building is called has a lot to do with the tenant. For example, if Merrill had taken over, no doubt it would be called the Merrill Lynch tower, with either name being accurate. It's a process repeated often with NY towers, most recently being 1 Bryant Park, a.k.a. the Bank of America Tower. With this tower, it's too early to say, but Silverstein is sticking with 175 Greenwich for now.

[Wheelingman04]

Redesign?

[JSsocal]

No, read the date: May 22, 2008. That plan fell through a long time ago, and Merrill Lynch employees are moving into 1 Bryant park, (since they're now BofA)

[NYguy]

Originally Posted by JSsocal

Merrill Lynch employees are moving into 1 Bryant park, (since they're now BofA)

At least some of them.


http://www.crainsnewyork.com/article...TATE/100329848

March 29, 2010

In what could be a boon for Brookfield Properties, one of its largest tenants, Deloitte, is leaning toward staying at the World Financial Center, sources say.

Deloitte has been scouring the city for a large block of space and has narrowed its search to two locations: the World Financial Center, where it currently has approximately 645,000 square feet; and 825 Eighth Avenue. Last year, the firm sent requests for proposals for up to 1 million square feet to the landlords of numerous buildings, including 11 Times Square and 277 Park Ave.

Deloitte is not the only major tenant Brookfield could lose at World Financial Center. Merrill Lynch's lease for 2.5 million square feet expires in 2013. In 2008, Merrill was purchased by Bank of America, which has a new midtown headquarters, as well as other buildings in the city, including one downtown. A bank spokesman said recently that the company plans to keep a downtown presence, but no decision has been made about the World Financial Center space.

Brookfield is gearing up for a major renovation of the four-tower, 8 million-square-foot center—plans that include creating a new entrance on West Street, eliminating the Winter Garden's signature grand staircase and adding retail space.

[BStyles]

Just don't eliminate the grand staircase(although it's purpose to lead to the north bridge has been fulfilled), instead, bring the entrance of the East/West connector directly into the garden, and THEN add retail space(I'm not all for the fact that the entrance will be outside and if it's raining, I have to make a mad dash). Besides, you'll have tons of retail across the street in a couple of years.

Don't they have places where people can propose ideas?

[New Skyline]

Originally Posted by New Skyline

At last: Great news! Let's drink to that

But do they mean it could take two and a half years to erect the entire east side podium? (Tower Three aswell as Tower Two podium?)

#The entire site will be built to street level; - that could take 2,5 years??

^^^^^
# = Posted by NY Guy

Thanks for responding to my Question all of you Guys.

[Dac150]

Originally Posted by BStyles

eliminate the grand staircase

[NYguy]

http://www.nytimes.com/2010/03/26/nyregion/26zero.html

If Mr. Silverstein was able to raise $300 million in cash and secure leases from corporate tenants for about 400,000 square feet of space for a larger second tower, the city, the state and the authority would provide up to $600 million in financial assistance for that building, also on Church Street. If he could not get the financing and leases, he would build a five-story structure there by 2013 for shops and mechanical elements and leave the tower, to be built above it, for later.

Looking at the model of the base again, you can see the 3 levels of retail and the two mechanical levels above, after which construction would stop if Silverstein doesn't have 400,000 sf of the tower leased by 2013. The five trading floors above that would be built along with the rest of the tower if construction comes to a halt at that time.

[Dac150]

By time construction reaches the point of those mechanical floors, a tenant will have to be found. If a tenant is not found by that time, there is seriously something wrong.

Part of me is anticipating that tenants from the World Financial Center will make the jump over, or will express interest within a couple years. With that said, I wouldn’t discount Merrill Lynch yet. BofA and Merrill have made it clear that Merrill will be retaining significant presence in Lower Manhattan; so you never know what the outcome will be two years from now. Obviously it wouldn’t be on the scale as originally planned a couple years ago, but new expansive trading and office space will be very appealing to any financial firm.

[NYguy]

Originally Posted by Dac150

Part of me is anticipating that tenants from the World Financial Center will make the jump over, or will express interest within a couple years. With that said, I wouldn’t discount Merrill Lynch yet. BofA and Merrill have made it clear that Merrill will be retaining significant presence in Lower Manhattan; so you never know what the outcome will be two years from now.

I think Merrill will retain space in the WFC. But I do believe tenants for the new WTC will come from both Midtown and Downtown.

[Dac150]

Originally Posted by NYguy

But I do believe tenants for the new WTC will come from Midtown.

It be nice to see Wall Street return to Downtown.

[OneWorldTradeCenter]

Originally Posted by NYguy

I think Merrill will retain space in the WFC. But I do believe tenants for the new WTC will come from both Midtown and Downtown.

I hope that there will be tenants from other cities as well, or even companies from Europe and Asia as well.

[NYguy]

http://www.crainsnewyork.com/article...TATE/100429827

WTC rebuilding was hobbled by site’s tragic history
Now that it is being treated as construction project, work is moving ahead smartly, says the head of the Port Authority; practicalities had gotten lost in politics, rhetoric.

By Theresa Agovino
April 28, 2010

Last month, the rebuilding effort cleared a major hurdle when the Port and Silverstein Properties, which leases a large portion of the site, reached an accord that will allow the developer to construct two towers at ground zero. The two had been battling for more than a year over what boiled down to a dispute over how much financial help the Port should give Silverstein to help him build.

Under the agreement, which hasn’t yet been signed, the Port will provide $1 billion in backstopping to help Mr. Silverstein build his towers, but the developer will have to find $300 million in equity if the second of his buildings is to be constructed. Mr. Silverstein will also need to find a tenant for at least a portion of the building.

Mr. Ward had been highly critical of the idea of using the Port’s balance sheet to finance private development, insisting that such a move would take money away from the agency’s many transportation projects. But in the end he said the compromise was necessary because “you could not leave downtown with unconstructed holes in the ground.”

On Wednesday he praised Larry Silverstein for pouring foundations for two of his buildings even though the two sides haven’t signed the deal. If the Port hadn’t reached a deal with Mr. Silverstein, it would have had to redesign much of the site’s infrastructure because it's interconnected.

[NYguy]

Chris Ward speaks to the Post...
http://www.nypost.com/p/news/opinion...-rss&FEEDNAME=

Building momentum at Ground Zero

By CHRIS WARD
May 3, 2010

With construction finally on track, we still had to confront what had become the biggest risk to the site's progress and the public's balance sheet: rebuilding all 10 million square feet of office space at once -- a plan stalled by the recession and, perhaps more fundamentally, by an over-ambitious sense of what was realistic in the first place. Yet, if Downtown's streetscape was to be restored, the holes where those office buildings were supposed to rise had to be filled.

So the Port Authority partnered with Silverstein Properties, the private developer in charge of building much of the office space, and came to a resolution that achieves a critical balance: immediate restoration of the site, but a new plan to phase in the office towers according to market demand, instead of building them all at once with public dollars.

The framework we announced last month will help ensure the rest of the site is completed. It calls for the immediate restoration of the east side of the site to at least street level, the completion of Tower 4 by 2013 and the phase-in of Towers 2 and 3 over time. It also represents a new and productive partnership with Silverstein Properties, one that is essential to the project's success.

[Dac150]

[NYguy]

http://www.tribecatrib.com/news/2010...de-center.html

Site Specifics: Tracking Progress at the World Trade Center

By Matt Dunning and Carl Glassman
May. 03

TOWER 3

A financing agreement finally reached last month in the long-running dispute between the Port Authority and Silverstein Properties has moved plans closer to reality for this 78-story tower at the corner of Church and Cortlandt Streets.

...the Port Authority has said it will help Silverstein move forward with construction of the tower’s underground foundation, a process that Silverstein officials say will take about 18 months.

The company now predicts that the 1,137-foot building, designed by Lord Richard Rogers will be completed in 2015. Its original target date was 2012.

If construction of the tower reaches street level without Silverstein having met its agreed-upon benchmarks, the company has said it will build at least the first few floors of retail and utility space to accommodate mechanical equipment for the Port Authority’s transportation hub.

[Bucktown718]

2015? Daaaaamn
Well at least it getting build.

[SkyscrapersOfNewYork]

i cant say im entirely happy with that times table

[uaarkson]

I can. This is the first news in years that has given me real hope the building will be finished at all.