Brookfield/Silverstein Team to Develop Fifth World Trade Tower
A partnership led by Brookfield Properties and Silverstein Properties will launch exclusive negotiations for the development of a mixed-use tower on the World Trade Center campus. The boards of the Port Authority of New York and New Jersey and the Lower Manhattan Development Corporation selected the Brookfield/Silverstein partnership to build on one of the campus’ last undeveloped parcels.
The proposal for the 1.56-million-square-foot tower on WTC Site 5 entails 1,325 rental apartments, including 330 affordable units. The tower would rise on the site of the former Deutsche Bank building at 130 Liberty St. and would also include approximately 190,000 square feet of office space.
“Silverstein Properties has been intimately involved in the redevelopment of the World Trade Center since 9/11,” said chairman Larry Silverstein. “It has been a long, challenging, but deeply fulfilling journey.”
Negotiations for a 99-year lease on Site 5 are expected to be concluded within six months.
For comments, questions or concerns, please contact Paul Bubny
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