The Port Authority of New York and New Jersey unanimously selected Silverstein Properties and Brookfield Properties as the winning bidders to develop the remaining site within the six-building complex. Having entered into a 99-year ground lease with the bi-state agency, the co-developers plan to construct a 900-foot, 1.6 million-square-foot mixed-use tower on the 5 World Trade Center site. The new structure will host 1,325 rental units spread across 1.2 million square feet, of which a portion will be set aside for affordable housing, along with additional space designated for office, public amenity, community, and retail uses.
Source: https://commercialobserver.com/2021/02/silverstein-brookfield-win-bid-to-build-mixed-use-tower-at-5-world-trade-center/
Notifications