[NYguy]

Originally Posted by Visionist

This will probably spend several years in review hell sadly. We'll see.

They just have to finalize it with Silverstein. Then it will be up to financing, but they're looking to start in 2023.



https://www.amny.com/news/5-wtc-to-h...r-year-pamymj/

Under the Mandatory Inclusionary Housing requirement by the city, Port Authority plans to monetize the space at 130 Liberty St. with shovels in the ground in 2023.

But despite the pricy real estate putting the average area median income at 100,000 for the three family household, Port Authority will be requiring a minimum of $51,000 a year from potential tenants.

At the Feb. 11 commissioners meeting, Port Authority Executive Director Rick Cotton spoke of the $3 billion gap being driven into their finances by March 2022 by COVID-19 and the future need for cash flow in the coming years.

“The income limits are lower than is actually mandated by the current city program, so that the maximum income,” Cotton said.

https://www.nj.com/news/2021/02/port...outputType=amp

The 78-story, 5 World Trade Center, proposed for the site of the former Deutsche Bank building on Liberty Street, will be predominately residential, with 34 floors of 1,325 rental apartments, including 330 that will be permanently deeded for affordable housing. There will be 190,000 square feet -- or six floors -- of office space and dedicated community space.

Port Authority commissioners voted unanimously Thursday to select and enter into negotiations with Brookfield Properties and Silverstein Properties for a lease to develop the proposed residential tower. A lease could be reached in six months, leading to a possible 2023 groundbreaking, officials said.

https://www.6sqft.com/plan-for-900-f...moves-forward/