NYC’s Tallest Hydroelectric Powered Structure Nears Completion
City’s tallest tower completely powered by renewable energy sourced from a New York State hydroelectric plant. Upon delivery, the 60-story 2.5 million-square-foot building that occupies a full city block between Park and Madison Avenues has the capacity to house 15,000 employees. On the western corner of the site a revamped entrance to Grand Central Madison and Grand Central Terminal will be built. According to details on Foster + Partners’ website, as the architectural design firm, “in addition to operating on net zero carbon emissions, the building will use state-of-the-art building technology and systems to ensure it operates as efficiently as possible, including intelligent building technology that uses sensors, AI and machine learning systems to predict, respond and adapt to energy needs; advanced water storage and reuse systems to reduce water usage by more than 40 per cent; triple pane glazing on the façade and automatic solar shades connected to HVAC systems for greater energy efficiency; and outdoor terraces featuring natural green space and plantings. The project also recycled, reused or upcycled 97% of the building materials from the demolition – far exceeding the 75% requirement of the leading green building standard.” Construction of the building is expected to generate more than 8,000 jobs by completion, spanning 40 local unions and producing $2.6 billion of economic activity for New York City. In addition, JPMorgan Chase is expected to “contribute $29.8 billion annually to the city’s economy and stimulate an additional 40,000 jobs across local industries.” Demolition of the financial institution’s former 52-story, 1.351 million-square-foot headquarters began in 2019; and at the time was noted as the world’s largest voluntary demolition. Air rights acquired as part of the project included a total of 666,766 square feet of unused development rights for roughly $208.364 million ($312.50 per square foot) from Grand Central Terminal in December 2018, and in 2019 a transaction in the amount of $16.75 million was completed, transferring another 50,000 square feet of development rights from St. Bartholomew’s Church at 321 Park Avenue.