HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Completed Project Threads Archive


    Three World Trade Center in the SkyscraperPage Database

Building Data Page   • Comparison Diagram   • New York Skyscraper Diagram

Map Location
New York Projects & Construction Forum

 

 
Thread Tools Display Modes
     
     
  #3641  
Old Posted Apr 28, 2014, 11:19 PM
westmc9th's Avatar
westmc9th westmc9th is offline
Registered User
 
Join Date: Apr 2009
Location: Charlotte
Posts: 130
Sorry if it has been asked>...... When will a decision be announced?
     
     
  #3642  
Old Posted Apr 29, 2014, 12:46 AM
weidncol weidncol is offline
weidncol
 
Join Date: Aug 2013
Posts: 386
No exact date has been announced, but just recently the PA delayed it to May.
     
     
  #3643  
Old Posted Apr 29, 2014, 2:08 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,692
Quote:
Originally Posted by Eveningsong View Post
The PA shouldn't be involved in real estate. Period.
But they are. And will remain so, even at the WTC where Silverstein signed a lease for 99 years. It's their property. And it only makes sense to see it built through, why else waste billions on a transit terminal there.



Quote:
Originally Posted by drumz0rz View Post
It should be noted though, that work below street level has been steadily progressing, and the retail locations within the footprints of both towers are likely to open on time with the rest of the mall.
Work below has been progressing, as it has above. But no retail will open above ground.



Video Link
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #3644  
Old Posted Apr 30, 2014, 5:01 PM
OptimumPx's Avatar
OptimumPx OptimumPx is offline
Basket Case
 
Join Date: Feb 2011
Posts: 119
Port Authority bigs eye equity stake in 3 WTC
As an additional sweetener for a deal to grant a $1.2 billion loan guarantee, the bistate agency is seeking an ownership share in the planned 80-story tower to be built by Silverstein Properties.

Quote:
Officials at the Port Authority of New York and New Jersey are negotiating to receive a large perk in return for extending a $1.2 billion loan guarantee that would back a soaring new office tower at the World Trade Center site. Top officials at the agency, including the Port Authority's executive director Pat Foye and vice chairman Scott Rechler, are trying to secure an ownership interest in 3 World Trade Center, the planned 80-story building that some critics say the Port Authority has no business backing.

The deal is an effort to give the Port Authority a share of the building's potential upside in exchange for committing more of its capital. The hope is that the new sweetener will help win over critics on the agency's board, whose vote at a meeting in May will likely determine whether the tower gets built in the near future—if ever.

...

Now the equity stake is being pursued as a concession from Silverstein Properties that could widen support among the board members. The equity stake would give the Port Authority a direct ownership interest in the new tower in which it would share in the profits its produces for Silverstein Properties. The deal would mimic the ownership structure of the tallest office tower in the nation, One World Trade Center, which the Port Authority owns in partnership with private developer the Durst Organization.

It was not immediately clear how large of an ownership interest the Port Authority was negotiating to receive, whether Silverstein Properties would grant the stake to the agency, or if it would be enough to sway the board to endorse the tower deal.
http://www.crainsnewyork.com/article...stake-in-3-wtc


If this is what it takes to get this tower off of the ground, I'm all for it.
__________________
If it was so, it might be; and if it were so, it would be; but as it isn't, it ain't. That's logic.
     
     
  #3645  
Old Posted Apr 30, 2014, 6:38 PM
drumz0rz drumz0rz is offline
Registered User
 
Join Date: Feb 2009
Posts: 623
Quote:
Originally Posted by NYguy View Post
Work below has been progressing, as it has above. But no retail will open above ground.
Right, what I meant was that the underground spaces of the Westfield Mall that are within the footprints of towers 2 and 3 will open despite the state of construction above. You are correct, the ground level retail will not.
     
     
  #3646  
Old Posted Apr 30, 2014, 6:42 PM
Submariner's Avatar
Submariner Submariner is offline
Registered User
 
Join Date: Mar 2013
Posts: 1,341
The P/A shouldn't be running transportation let alone involve themselves with real estate. If they are anything like the Massachusetts bureaucracies I've had the displeasure of working with, the P/A is both thoroughly corrupt and wholeheartedly incompetent.

Normally, I'm not a fan of private development getting public money, but this is a unique case. Not only is the WTC rebuilding after 9/11, the P/A has already poured billions (in the most shockingly inefficient way I've ever seen) into this project. It would be insane to stop halfway through. Finishing this tower will go a long way for the WTC, and given the plethora of high end retailers who are flocking to the retail section (not to mention, all the development going on in the area) downtown is in fact gaining strength. The P/A needs to get behind this particular project then divest themselves from real estate all together (and maybe offer up all of their leadership to the FBI while they're at it.)
     
     
  #3647  
Old Posted Apr 30, 2014, 7:02 PM
chris08876's Avatar
chris08876 chris08876 is offline
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,674
^^^^

I agree. The P/A is corrupt and incompetent. But, for now, we have to deal with them. Shame too given the symbolism of such a project. BTW, love your avatar.
     
     
  #3648  
Old Posted Apr 30, 2014, 8:30 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,692
Quote:
Originally Posted by Submariner View Post
Normally, I'm not a fan of private development getting public money, but this is a unique case. Not only is the WTC rebuilding after 9/11, the P/A has already poured billions (in the most shockingly inefficient way I've ever seen) into this project. It would be insane to stop halfway through.

The PA is a complicated entity, both public and private in nature. They are supported by their own revenues, including real estate (they still own the WTC as well, Silverstein is basically a renter). Without the PA, there wouldn't be a WTC to speak of. Beyond that, it's where their headquarters was and will be located. It makes sense to get this finished, even if they got more of a stake in tower 3. There's nothing to say they can't sell it down the road. Do I think they should start building new skyscrapers in Manhattan? No. But the WTC isn't something new, and they have a lease with Silverstein, they might as well get the money. The extra loan guarantee won't even come into play.
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #3649  
Old Posted Apr 30, 2014, 8:31 PM
Enigmatism415's Avatar
Enigmatism415 Enigmatism415 is offline
Registered User
 
Join Date: Jul 2012
Posts: 225
Quote:
Originally Posted by Submariner View Post
The P/A needs to get behind this particular project then divest themselves from real estate all together
Precisely! The Port Authority should, at the very least, support the construction of 3WTC by guaranteeing Silverstein's loan, and then get themselves out of the real estate business; it's their own site for heaven's sake! The latest deal-sweetener only further attests to the benefits in store for the agency if they vote positively. So, the Port Authority needs more funding for a bus terminal? This is the smartest way to do it.
     
     
  #3650  
Old Posted May 1, 2014, 7:28 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,692
A clash of egos....there's a fight about everything else regarding the rebuilding, it makes sense there should be issues with the retail too...




http://therealdeal.com/issues_articl...neup-revealed/

World Trade Center’s retail line-up revealed
With deadlines approaching and retailers grumbling about key design element, TRD uncovers most comprehensive list of likely tenants in mega mall







May 01, 2014
By Adam Pincus


Quote:
As the city waits for the new World Trade Center development to open and begin pulsing with office workers, tourists and residents, big egos are clashing behind the scenes over what stores will occupy the massive retail complex.

Brokers told The Real Deal they expected Westfield Group’s 365,000-square-foot, multi-level mall in Lower Manhattan to be a success. But with deadlines nearing, the project is pushing to recruit more high-end tenants, even as some retailers have balked at being underground or expressed concern about a key design feature of the retail space.

The jewel of the massive retail project is a spiny, ethereal-looking Santiago Calatrava–designed structure that will undoubtedly become an iconic addition to the Lower Manhattan landscape. The retail complex includes aboveground space, but the majority of the shopping will be below street level at the 16-acre site.

“I have heard some European retailers don’t want to be underground,” said Robert Gibson, a vice chairman at commercial firm JLL. Nevertheless, “I think it will be very successful.”

To help drum up interest among posh stores, Vogue editor-in-chief Anna Wintour has reportedly been using her status as the grand dame of luxury fashion to convince designers to take space at the project. Sources told TRD that Wintour — whose parent company Condé Nast will be anchoring the office component of 1 World Trade Center — has been making calls and joining tours to convince retailers to sign on for space. Vogue declined to comment.


Despite Wintour’s endorsement, insiders say that some high-end retailers are not biting.

Computer and iPhone giant Apple — which is expected to take space in the project — was frustrated by the giant “ribs,” or columns, that Calatrava included throughout the underground portion of the site. The arching structures are spaced roughly 11 feet apart along the front portion of each store, which has put off some retailers who want to use that space for signage, branding or product display, sources said.

Apple even sought a design variance, but was turned down, said one retail source, who asked not to be identified.

“Do you think [fashion designer] Karl Lagerfeld will be ok with playing second fiddle to an architect?” another retail insider said. “It is all about clashing egos. Those brands [that object to the columns] are not going to open a flagship Downtown and have Santiago Calatrava’s ribs obstructing the view.”


This month, TRD assembled the most comprehensive-to-date list of tenants expected to take space at the project. We also obtained maps of the full retail complex indicating where retailers are likely to plant their flags.

Westfield has been involved in the center since it signed a 99-year lease in July 2001 to control what was then called the Mall at the World Trade Center (see related story on page 62). Analysts expect the new retail space to bring in $2,000 per square foot or more annually, well above the $900 per foot the predecessor mall took in, and putting it among the top-grossing malls in the world.

While brokers said Westfield would not have a problem filling the space, questions remain about what type of tenant mix the project will ultimately achieve, and how much money it will generate for its owner. The firm is currently assembling what insiders say is a solid group of tenants. But so far, brokers said, it lacks the depth of luxury brands amassed by the neighboring Brookfield Place. Still, it remains to be seen how critical luxury tenants are for the project.

Ultimately, Westfield’s goal is for the mall to be “relevant” and a destination in the same way Soho is, said a person familiar with the marketing plans, who noted that the firm wants to draw New Yorkers, tourists and commuters into the complex.

In addition, some said, the tenants at the World Trade Center and at Brookfield Place may actually help one another.

“Collectively, [Westfield and Brookfield] have got to have a broad array of stores, and not every one is going to be a luxury brand. Not everyone can afford a Brioni suit,” said Richard Hodos, an executive vice president of retail at CBRE Group. “The fact that Westfield is going to have some moderately priced tenants is not a bad thing.”






Quote:
Westfield, a public company, has said it expects to have 150 brands at the World Trade Center site mall.

TRD identified approximately 60 tenants that have signed leases, inked letters of intent or are in late negotiations with Westfield. In addition, the magazine also uncovered the location they’re expected to take in the project.


.....The retail complex has four main shopping areas. The first is above ground in 3 World Trade and 4 World Trade along Church Street. But the heart of the retail complex will be Calatrava’s so-called “Oculus,” a two-level, oval-shaped shopping gallery. Two bi-level concourses, one dubbed the West Gallery, and the other called the South Gallery, will branch off of the Oculus.

As TRD reported last month, designer Tom Ford, jeweler Tiffany & Co., and one of the Giorgio Armani fashion brands are expected to take three of the project’s four street-level stores. Tom Ford is likely to take a two-level space in the base of 4 World Trade, and Tiffany and Armani are expected to take two-level locations in the base of 3 World Trade, next door. All three sites have frontage on Church Street.

But some sources told TRD that not all retailers are comfortable with the non-World Trade Center tenants — including Burger King and discount clothing store Century 21 — that are near the project’s street-level space. While the neighborhood is rapidly changing, typically luxury brands do not want to be near brands outside of their peer group.

.....Despite all of the tenants that have signed on, brokers say that on the whole, Westfield has lost the luxury battle with Brookfield Place, which landed a slightly wider range of high-end tenants, including Burberry, Salvatore Ferragamo, Hermès and Diane von Furstenberg.

Yet late last month, a retail source told TRD that Westfield may have high-end designer Prada lined up, so no one is counting Westfield out.

The project’s distinct architecture alone is expected to draw droves of tourists into the building, even though the columns that are part of that design are turning off some retailers. A few have pointed out the irony that above ground, the office-leasing brokers are selling the World Trade Center towers as engineering marvels that are nearly column-free.

Several tenant brokers said their clients have balked at the columns, but Westfield has attempted to counter that by showing tenants potential store designs that are not impeded by the columns and that allow them to effectively brand their spaces.
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #3651  
Old Posted May 1, 2014, 8:25 PM
weidncol weidncol is offline
weidncol
 
Join Date: Aug 2013
Posts: 386
If only the office space could be leased as fast as the mall...
     
     
  #3652  
Old Posted May 1, 2014, 10:21 PM
Hypothalamus's Avatar
Hypothalamus Hypothalamus is offline
Homo sapiens sapiens
 
Join Date: May 2012
Location: 3rd planet from the Sun
Posts: 1,666
More scaffolding:

As of May 1st, 2014...



__________________
“If I have done the public any service, it is due to my patient thought.” ― Isaac Newton

~ My Stamford, CT Thread ~~ My Danbury, CT Thread ~
     
     
  #3653  
Old Posted May 1, 2014, 10:30 PM
Submariner's Avatar
Submariner Submariner is offline
Registered User
 
Join Date: Mar 2013
Posts: 1,341
Why scaffolding on the core?
     
     
  #3654  
Old Posted May 1, 2014, 10:38 PM
weidncol weidncol is offline
weidncol
 
Join Date: Aug 2013
Posts: 386
I believe it's preperation to cap it like what we see on Tower 2's core. That would only happen if the PA denies the loan for Silverstein.
     
     
  #3655  
Old Posted May 6, 2014, 3:08 AM
Zapatan's Avatar
Zapatan Zapatan is offline
DENNAB
 
Join Date: Aug 2009
Location: NA - Europe
Posts: 6,009
Quote:
Originally Posted by weidncol View Post
I believe it's preperation to cap it like what we see on Tower 2's core. That would only happen if the PA denies the loan for Silverstein.
Ugh, tower 2 being capped was bad enough, it would make me quite upset for the same thing to happen to this one.

I guess someday, somehow they might get built, hopefully.
     
     
  #3656  
Old Posted May 6, 2014, 4:02 AM
CityGuy87 CityGuy87 is offline
Registered User
 
Join Date: Sep 2012
Posts: 288
So when is the next supposed meeting that will most likely be delayed yet again?
     
     
  #3657  
Old Posted May 6, 2014, 6:01 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,692
Nobody is capping anything.
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #3658  
Old Posted May 6, 2014, 12:32 PM
Skyguy_7 Skyguy_7 is offline
BANNED
 
Join Date: Dec 2012
Location: Chicago
Posts: 2,657
The scaffolding you see is an essential part of restarting a project in this phase of construction. Besides, there are far more sections of disassembled scaffolding on deck than what would be required to wrap around the core to cap the building.

Photo of 111 W Wacker, courtesy of harryc.
     
     
  #3659  
Old Posted May 7, 2014, 2:48 AM
Roadcruiser1's Avatar
Roadcruiser1 Roadcruiser1 is offline
Registered User
 
Join Date: Jun 2010
Location: New York City
Posts: 2,107
     
     
  #3660  
Old Posted May 8, 2014, 3:07 PM
Enigmatism415's Avatar
Enigmatism415 Enigmatism415 is offline
Registered User
 
Join Date: Jul 2012
Posts: 225
Christie, Cuomo form Port Authority reform panel

Quote:
The Port Authority has been buffeted recently over the lane-closing scandal at the George Washington Bridge, allegations of conflicts of interest and the resignations of several top officials. It also has come under criticism for considering plans to commit more than $1 billion as a loan guarantee to back developer Larry Silverstein's plan to rebuild 3 World Trade Center.

The trade center issue has revealed a split between Port Authority board members over whether the agency's mission should include real estate development, in addition to its core mission of operating the New York area's major transportation facilities.

Christie and Cuomo said in the letter that the panel would meet "as soon as reasonably possible" and would submit a report with recommendations within two months.
Two months? Didn't GroupM only agree to stay on board until July? Why are they cutting it so close? Isn't the Port Authority voting on this issue later this month like they said they would? My frustration is slowly escalating into anger... It's almost as if certain people would rather the WTC remain unfinished in perpetuity.
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
 

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Completed Project Threads Archive
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 5:20 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.