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  #61  
Old Posted May 26, 2007, 11:23 AM
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Originally Posted by Scruffy View Post
I love the fact that we all are so ahead of the curve. We talk about stuff for a couple weeks before the media picks it up and brings it the masses. we rule.

cantilevered? interesting.

If they are buying air rights from the battery tunnel, to me that sounds like the williams tower that was going over the parking lot is a vision only and will not happen. im thinking that they would be competing for the same air rights.
I was surprised to see it there in the Express. Maybe they took a cue from your photos. Perhaps you can go down to the meeting and get more detailed information on this process:

Quote:
On June 6, Downtowners will get a chance to decide for themselves how to describe the 63-story, mixed-use development proposed for 50 West St. The developer, Time Equities, will make a full presentation on the project before C.B. 1’s Financial District, Battery Park City and Quality of Life Committees.
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  #62  
Old Posted Jun 7, 2007, 9:47 PM
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63-story mixed-use tower planned for 50 West Street 07-JUN-07



Time Equities, a real estate company headed by Francis Greenburger, made a presentation last night to the Financial District, Battery Park City and Quality of Life committees of Community Board 1 of its plans to erect a 63-story hotel and residential condominium development at 50 West Street across from Battery Park City.

The slim tower has been designed by Helmut Jahn of Murphy/Jahn Architects of Chicago, who designed CitySpire, Park Avenue Tower and 425 Lexington Avenue in New York and the great State of Illinois Center in Chicago, and Gruzen Samton LLC.

The curved south side of the tower would have a plaza that would provide an alternate and more attractive pedestrian walkway from Battery Park City to Greenwich Street than the existing walkway through the Battery Tunnel Garage.

The proposed building would house a 155-room hotel on floors 1 though 13, 48 "full-service residential units" on floors 14 through 18 and 259 residential condominium apartments on floors 20 through 63. It would have an illuminated top, but no garage.

The ground floor of the tower, which would be designed to achieve a Gold LEED rating, would contain a "light-art gallery showcasing some of the most innovate light installation artists in the world, a caf¿/bar, a restaurant and a "gourmet" corner store grocery.

The project requires text changes to allow a plaza at the site and to permit the transfer of development rights above the Battery Tunnel garage to be used "only in the at-grade area north of J. P. Ward Street, and by special permit only."

In addition, the project requires the demapping of a 8-inch strip between J. P. Ward Street and the applicant's site and a demapping for "a plane above J. P. Ward and the portion of the Brooklyn Battery Tunnel Approach located 37.2 feet above the area between West, Washington, Morris and J. P. Ward Streets.

The Brooklyn Battery Tunnel Approach has about 2.7 million square feet of unused air rights and the 50 West Street project plans to acquire about 183,000 square feet of those air rights.

The project's site is just to the north of the 8-acre Greenwich Street South project that would deck over the Manhattan entrance to the Brooklyn-Battery Tunnel, create a new park and a new, automated, green-roofed bus garage and five residential towers, a plan that was initiated by Mayor Bloomberg in 2002 and which the chairman of the Hugh L. Carey Battery Park City Authority, Jim Gill, said last year he would like to take charge of.

An urban design study for that project was prepared in 2005 envisioned a new, curved pedestrian bridge over West Street to connect the southern part of Battery Park City to Greenwich Green, a new park between Morris and Edgar Streets between West and Greenwich Streets.

Members of the community board indicated they wanted any income from the sale of air rights to the project to be used for projects in Lower Manhattan, indicating that they were concerned about schools, a new pedestrian bridge over West Street, and the area's need for more cultural institutions and affordable housing.

Philip Gesue, director of development and acquisitions for Time Equities, told the meeting that it was considering giving a local school 159 laptop computers with four-year maintenance contracts, to help address the area's school needs. Mr. Gesue said that a bridge from Battery Park City over West Street to his company's site would be difficult to accommodate because of the small size of the site.

Julie Menin, chair of the community board, said that board needed more time to study what amenities it might seek from the development and scheduled another meeting for June 18, the day before it must make recommendations for the project's Uniform Land Use Review (ULURP) applications.

The redevelopment of the 50 West site would involve the demolition of the 12-story, 1912 building once known as the Crystal Building that has a 3-story-high mansard roof.

http://www.cityrealty.com/new_developments/
     
     
  #63  
Old Posted Jun 7, 2007, 11:45 PM
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Old & New rendering

Very sleek design. Could be the same design from the looks....
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  #64  
Old Posted Jun 7, 2007, 11:49 PM
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Originally Posted by BayRidgeFever View Post
The Brooklyn Battery Tunnel Approach has about 2.7 million square feet of unused air rights and the 50 West Street project plans to acquire about 183,000 square feet of those air rights.
I had no idea there was that much there....
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  #65  
Old Posted Jun 8, 2007, 4:06 AM
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Elegant design! hope the community board recommends this beauty.
     
     
  #66  
Old Posted Jun 9, 2007, 12:17 AM
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Elegant design! hope the community board recommends this beauty.
They probably won't...

Quote:
Members of the community board indicated they wanted any income from the sale of air rights to the project to be used for projects in Lower Manhattan, indicating that they were concerned about schools, a new pedestrian bridge over West Street, and the area's need for more cultural institutions and affordable housing.

Philip Gesue, director of development and acquisitions for Time Equities, told the meeting that it was considering giving a local school 159 laptop computers with four-year maintenance contracts, to help address the area's school needs. Mr. Gesue said that a bridge from Battery Park City over West Street to his company's site would be difficult to accommodate because of the small size of the site. Julie Menin, chair of the community board, said that board needed more time to study what amenities it might seek from the development and scheduled another meeting for June 18, the day before it must make recommendations for the project's Uniform Land Use Review (ULURP) applications.
But it may not matter...

Quote:
However, Menin (the chair of C.B. 1) isn’t sure just yet what that voice will say. No matter what the community board says, there will be a significant development at 50 West St. Under the area’s commercial zoning, Time Equities can build a 30 to 40 story building on the site’s current footprint. The company has already submitted preliminary applications for the demolition of the 1912 “copper top” 13-story building that currently occupies the space, just north of the Brooklyn Battery Tunnel. The development will contain hotel rooms, luxury condominium units and ground floor retail, all to be designed by well-known architect Helmut Jahn.

If the developer’s ULURP application is approved, the building could gain an additional 180,000 square feet of space, putting it at 63 stories under the current plans. The ULURP would also clear the way for a public plaza on the site, with landscaping and outdoor seating for a proposed café and restaurant. The plaza would be created by enlarging the narrow Ward St. walkway near the garage that leads from West to Washington Sts.
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  #67  
Old Posted Jun 9, 2007, 6:07 PM
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I have always thought there should be tall buildings over the Brooklyn Battery Tunnel. Good to hear that its happening.

I am sorry to break the news to you guys, you can huff and puff all you want, but New York really is not about tall buildings anymore, its about slipping in a 30 story building here or there where a developer can. As we have become a city of property owners as opposed to renters, anyone wth an apartment and half a brain knows its best to limit supply to maximize the value of your investment.
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  #68  
Old Posted Jun 10, 2007, 1:58 AM
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Downtown Tower Developer Seeks CB1 Approval





By Andrea Appleton
POSTED JUNE 8, 2007

One more towering glass building—this one 63 stories—may soon join the bumper crop planned for Lower Manhattan. But first the 725-foot tower at 50 West Street, near Rector Street, must survive an extensive city-mandated review.

That’s what brought the developer, Time Equities, Inc., before combined committees of Community Board 1 on June 6 as they sought the board’s advisory approval. The transparent glass building would house about 300 condos and a 155-room high-end hotel, and would include a public plaza.

A Uniform Land Use Review Procedure (ULURP) is required because the developer wants several exemptions to the current zoning, as well as permission to purchase air rights from the Brooklyn Battery Garage across the street. Once CB1 has reviewed the plans, they will go to Borough President Scott Stringer’s office, followed by the City Planning Department, and finally to the City Council.

At the meeting of CB 1’s combined Financial District, Battery Park City and Quality of Life/Affordable Housing Committees, Philip Gesue, acquisitions director for Time Equities, Inc., argued that the city was getting something special in the bargain. The tower’s design is by the well-known architect, Helmut Jahn, and a plaza along the Joseph P. Ward and Washington Street edges of the lot would provide a pedestrian-friendly route between the southern part of Battery Park City and the rest of Lower Manhattan. Now, the only direct route from West Street to Washington Street in the area is through the Brooklyn Battery Garage or up a dark sidewalk hemmed in between the garage and the adjoining building.




“Everybody who crosses the street here winds up walking up the middle of Joseph P. Ward Street because this sidewalk is so narrow and dirty,” said Gesue. “It’s dangerous and illegal, and doesn’t contribute to the fabric of the community.” He added that developers are aiming for gold-level LEED certification, the U.S. Green Building Council’s highest rating.

But CB 1 members seemed unconvinced that the development would be good for the community.

“You keep using very negative words to describe our neighborhood,” said board member Linda Belfer, a Battery Park City resident. “’Desolate’ and ‘gritty.’ We love our neighborhood, and what you’re proposing to do is going to vastly change it.”

Among the changes they foresee, board members mentioned the increase in traffic and the burden on local schools from the influx of new residents, as well as the overall change to the neighborhood’s character the tall glass building would bring.

To help mitigate effects on P.S./I.S. 89 Gesue said Time Equities, Inc. plans to buy 159 laptop computers for the schools. These would be distributed to all of the classrooms, making the computer room that the two schools now share obsolete and allowing P.S. 89 to add a classroom. Gesue said Time Equities, Inc. would also fund a full-time computer maintenance person for the schools for four years.

“The impact on the school, the growth, directly affects P.S. 89,” said I.S. 89 principal Ellen Foote, who attended the meeting, “but indirectly affects I.S. 89. We’re being squeezed and the only way to maintain an appropriate level of technology is to go by this route.”

While board members applauded the offer, it did not seem to appease them.

“What we’re trying to do tonight,” said chair Julie Menin, “is give you a sense of our needs, and how you can mitigate the severe impacts which this project will have on our community.”

Menin suggested some projects the developer might undertake, such as improving two small parks on Edgar Street, and adding benches and lighting to the streetscape around 50 West St. Others on the board suggested the building should include a cultural amenity.

Board member Bill Love proposed that the plans should include a new pedestrian bridge. “We need a permanent bridge connecting the southern part of Battery Park City to the other side of West Street,” he said. “It seems to me that your building is really an ideal location for such a bridge to terminate.”

Gesue said he would be open to considering the bridge proposal once the ULURP process was successfully completed. But about most of the other requests, he was noncommittal.

“We didn’t come here tonight with a stripped-down building that doesn’t offer a whole lot to you and expect to be in a trading session here,” he said.

The committees will meet again on June 18 to discuss the proposal and hammer out a resolution. The next evening, the full board will vote on it.

Among the complex zoning modifications in the application is a request to “demap” several areas associated with the Brooklyn Battery Tunnel Approach. This would allow the developer to purchase air rights from the city, essentially buying them from the garage across the street. This would allow the building to add 183,000 square feet to the only 275,000 square feet that is currently allowed in the zoning.




Board members were emphatic about where the money from selling the air rights ought to go if the application is passed.

“The city is obviously getting substantial money for them,” said Menin. “I feel strongly that these proceeds must go into Lower Manhattan to benefit our community.”

The committees will meet again to consider the application on June 18 at 6 p.m., at 49-51 Chambers St., Room 709.

The Tribeca Trib
     
     
  #69  
Old Posted Jun 10, 2007, 3:00 AM
GFSNYC GFSNYC is offline
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I am sorry to break the news to you guys, you can huff and puff all you want, but New York really is not about tall buildings anymore, its about slipping in a 30 story building here or there where a developer can. As we have become a city of property owners as opposed to renters, anyone wth an apartment and half a brain knows its best to limit supply to maximize the value of your investment.
I think that when demand for land is high, you might want to maximize your investment. I'm sure it would be a pretty bad move (to say the least) for a developer to purposely undersize their project to maximize profitability per unit. There will always be a developer willing to take less profit to build bigger. 50% profitability and making $100 is not nearly as good at 2% profitability and $900, in real estate cash flow > profitability.

Quote:
But CB 1 members seemed unconvinced that the development would be good for the community.

“You keep using very negative words to describe our neighborhood,” said board member Linda Belfer, a Battery Park City resident. “’Desolate’ and ‘gritty.’ We love our neighborhood, and what you’re proposing to do is going to vastly change it.”
LOL, so the community wants beautification, amenities and benefits, but don't mention that they need amenities beautification.

Quote:
Among the changes they foresee, board members mentioned the increase in traffic and the burden on local schools from the influx of new residents, as well as the overall change to the neighborhood’s character the tall glass building would bring.
If there were no change in character, I'm pretty sure we'd be a souless city full of cookie-cutter highrises.

Crossing the streets around there is annoying, I really do hope they improve pedestrian flow, the tower looks very sleek, I wonder how it would fit into the skyline.
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  #70  
Old Posted Jun 10, 2007, 4:09 AM
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I think that when demand for land is high, you might want to maximize your investment. I'm sure it would be a pretty bad move (to say the least) for a developer to purposely undersize their project to maximize profitability per unit. There will always be a developer willing to take less profit to build bigger. 50% profitability and making $100 is not nearly as good at 2% profitability and $900, in real estate cash flow > profitability.

Thanks for clearing that up, as if it that was really needed. There is no way that NY developers don't build in order to create a demand, that is just plain old silly. 99% of New York developments are built out to the largest possible build-out allowed under zoning.
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  #71  
Old Posted Jun 10, 2007, 6:57 PM
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Originally Posted by Master Shake View Post
I am sorry to break the news to you guys, you can huff and puff all you want, but New York really is not about tall buildings anymore, its about slipping in a 30 story building here or there where a developer can.
You're either insane, or obviously out of touch with reality. Please keep your ignorance to yourself.
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Last edited by NYguy; Jun 10, 2007 at 7:02 PM.
     
     
  #72  
Old Posted Jun 10, 2007, 7:00 PM
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So the tower will stand 725 ft. Nice addition to that area of the skyline...

I'm lovin this one more from the latest renderings.
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  #73  
Old Posted Jun 10, 2007, 7:05 PM
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The new render makes this building look very sleek and elegant..kind of Hong-Kongish(in the good way). I hope it gets built. Wtf are they complaining about in that neighborhood? I do like that top of that building that is going down-too bad they cannot save or resurrect that part of that building for somewhere else.
     
     
  #74  
Old Posted Jun 10, 2007, 7:12 PM
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I do like that top of that building that is going down-too bad they cannot save or resurrect that part of that building for somewhere else.
It's the only decent part of that building...
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  #75  
Old Posted Jun 10, 2007, 9:23 PM
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Enlarged...


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  #76  
Old Posted Jun 11, 2007, 12:53 AM
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Thanks for clearing that up, as if it that was really needed. There is no way that NY developers don't build in order to create a demand, that is just plain old silly. 99% of New York developments are built out to the largest possible build-out allowed under zoning.
Yeesh, you missed my point completely. Of course developers build to maximize profits, but other property owners will seek to limit supply and object to a tall building. If I own a condo in Battery Park City, the last thing I want is a tall development nearby as it will increase supply and potentially reduce the relative value of my investment. Community opposition is often driven by economic interests of current property owners as it is driven by aesthetic reasons.
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  #77  
Old Posted Jun 11, 2007, 1:31 AM
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^ You're giving the average New Yorker too much credit. They are not as knowledgable as you may think.

They usually don't know much about or even believe in that supply and demand business.

In fact, most will argue that lots of new development is causing the cost of living to rise, quite mistakenly but that is what the average person only knows.

Most of the NIMBYism in the city is generally based on, but not limited to these reasons:

1) fear of change
2) fear of too many new people / crowding
3) loss of view / sunlight
4) rising rents
5) gentrification / racism
6) dislike of new or modern (glassy) designs
7) dislike height / bigness

There are still other reasons but these are the most common ones. So while you are right in that they usually oppose developments for selfish reasons, you are wrong in the reason why they do.

Last edited by antinimby; Jun 11, 2007 at 1:43 AM.
     
     
  #78  
Old Posted Jun 11, 2007, 2:15 AM
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Originally Posted by antinimby View Post
^ You're giving the average New Yorker too much credit. They are not as knowledgable as you may think.

They usually don't know much about or even believe in that supply and demand business.

In fact, most will argue that lots of new development is causing the cost of living to rise, quite mistakenly but that is what the average person only knows.

Most of the NIMBYism in the city is generally based on, but not limited to these reasons:

1) fear of change
2) fear of too many new people / crowding
3) loss of view / sunlight
4) rising rents
5) gentrification / racism
6) dislike of new or modern (glassy) designs
7) dislike height / bigness

There are still other reasons but these are the most common ones. So while you are right in that they usually oppose developments for selfish reasons, you are wrong in the reason why they do.

Don't forget the noise and incovenience associated with construction. Nimby’s are selfish deplorable creatures, they feel that only they have a right to live in a major city, not realizing that where they live, when built, also made an impact on the neighborhood.
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  #79  
Old Posted Jun 11, 2007, 11:22 AM
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Originally Posted by Master Shake View Post
Yeesh, you missed my point completely. Of course developers build to maximize profits, but other property owners will seek to limit supply and object to a tall building. If I own a condo in Battery Park City, the last thing I want is a tall development nearby as it will increase supply and potentially reduce the relative value of my investment.
Or increase the value. In this case, I would go with the increase. We're talking about what has basically been a "dead" area of Manhattan and creating a new neighborhood. Also, in New York, developers will build as allowed, despite whatever objections neighbors (or NIMBYs) may have.
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  #80  
Old Posted Jun 11, 2007, 11:02 PM
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Don't forget the noise and incovenience associated with construction.
Ah yes, how could I have forgotten? That's another common one.
     
     
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