State agency The Port Authority and Lower Manhattan Development Group have agreed to issue a joint RFP and divide proceeds generated from the development of 5 World Trade Center. A lengthy dispute between the parties had prevented any progress on the final remaining site within the World Trade Center complex, though it still remains unclear what future property will rise from the parcel, which could yield a tower spanning over one million square feet.
After previously enduring a slight pause in construction, the site of the future Ronald O. Perelman Performing Arts Center has picked up the pace of steel assembly currently forming the bottom sub-levels of the 130-foot structure. They will eventually form the secondary entrance and exit to the World Trade Center’s Vehicle Security Center. The project is already above street level and is being developed by the Port Authority of New York and New Jersey (PANYNJ), and designed by Joshua Prince-Ramus of Brooklyn-based REX Architecture. A 99-year lease was already approved for the project by Governor Andrew Cuomo.
For the second time in 2018, YIMBY has a new look for Five World Trade Center. The latest rendering was found by a reader on the project’s fencing in the Financial District. The image shows a glassy building with a triangular motif reminiscent of the David Childs-designed 1 WTC. The depiction is roughly 70 stories in height, which could indicate yet another supertall is planned for the area.
With each passing day, the World Trade Center is getting closer to completion. At 3 World Trade Center, major progress has been made toward completion, and we now have new details on the Financial District’s latest outdoor terrace. Larry Silverstein’s Silverstein Properties partnered with the Port Authority of New York and New Jersey for the development.
Back in December, YIMBY reported that work had appeared to stall for The Perelman Performing Arts Center at the World Trade Center, in the Financial District. While things have appeared to remain in-stasis since then, news has now broken that Governor Cuomo has officially allowed construction of the new PAC. That means work should soon begin again on the site, and may partially explain the delays seen over the past few months.