Spartanburg-based Pacolet Milliken plans 28-story office tower in New York

<p>A project bearing the imprint of the late Spartanburg textile magnate, philanthropist and builder Roger Milliken will bring upscale development and sustainable design to midtown Manhattan.</p><p>Spartanburg-based Pacolet Milliken Enterprises Inc. announced Tuesday it will move forward with a multimillion-dollar plan to build a 28-story, 450,000-square-foot office tower on the Avenue of the Americas overlooking Bryant Park in New York City.</p><p>Pacolet Milliken, a subsidiary of textile giant Milliken & Co. formed in 2007 to pursue and preserve high-quality real estate assets, has partnered with the development firm Hines in the venture.</p><p>Construction is expected to start next year, and tenants could move in as early as 2014, the company said. </p><p>The state-of-the-art tower will be Leadership in Energy and Environmental Design (LEED) certified, an internationally recognized certification system developed by the U.S. Green Building Council.</p><p>"Pacolet Milliken and its ownership families are proud to be part of a project that we believe will contribute to the Bryant Park community and New York City in a positive way," said company President Richard Webel in a statement. "We are equally proud that the building responds to the challenge from Roger Milliken, our founding chairman, to create uniquely distinguished design that reaches for a high level of sustainability."</p><p>Designed by international architectural firm Pei Cobb Freed and Partners, the tower will be made of steel and glass, capitalizing on views over the park and beyond the historic New York Public Library. Its entrance will feature a unique concave design detail in the shape of an hourglass.</p><p>A floating stainless steel disc, 48 feet in diameter, will be suspended above the building's corner entrance at 40th Street. It will serve as both a canopy and a signature architectural feature.</p><p>"Pacolet Milliken is committed to stewardship of long-term, quality assets, so they make a great partner for Hines," said Tommy Craig, senior vice president for Hines, in a statement. "We are privileged to develop a project that combines such an exceptional location with a distinguished design." </p><p>Craig said the building will be a one-of-a-kind opportunity, particularly for mid-sized tenants in the midtown market. </p><p>"This project will focus on people and their productivity and become an urban campus where Bryant Park can be a backdrop for the identity of building tenants," he added. "It will take advantage of new technologies which create a modern, forward-thinking workplace — a smart building for smart users."</p><p>Milliken & Co.'s roots in New York City reach back to the 19th century.</p><p>In 1865, Roger Milliken's grandfather, Seth Milliken, partnered with William Deering to found Deering Milliken Co., a small woolen fabrics company in Portland, Maine. </p><p>Deering soon left to start his own business and Milliken moved the company headquarters to New York City in 1868.</p><p>Roger Milliken inherited a controlling interest in the company in 1947. In 1954, he relocated to Spartanburg and brought the company's headquarters to the town four years later.</p><p>Milliken picked out the Manhattan property in 1955, purchased it and built a 10-story office complex on the site. The building served as Milliken & Co.'s worldwide branch office for the company. </p><p>In December 2007, the building was transferred to the newly formed Pacolet Milliken. Demolition began on the property in 2009 and was completed in 2010. </p><p>Pacolet Milliken announced its partnership with Hines last October to build the new office tower on the southwest corner of Bryant Park.</p><p>Roger Milliken died in Spartanburg in December at the age of 95. In his 111-page will, Milliken encouraged his beneficiaries to follow in his footsteps by seeking to be good stewards of their benefits and assets.</p>