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Monday, April 30, 2007

South Tribeca and Battery Park City's changing skyline

downtown new developments

tribecaHere's a point of view that not many get to see of the changes underway in south Tribeca and northern Battery Park City. These four massive developments are forever changing the character and density of the area. Even with West Street as a major dividing line between the communities, the visual and psychological connection of these areas is emerging both from this perspective, and from the street level. Thousands of Tribeca residents cross over to enjoy the Hudson River waterfront esplanade at Rockefeller Park every day.

Of those pictured, 200 Chambers Street is obviously the furthest along. With closings already taking place there and some units available for resale. 101 Warren is rapidly taking shape. The building's limestone facade is being mounted on the lower floors as the tower continues to rise. This is in my opinion one of the best new developments I've seen. It consists of two separate buildings. One of luxury condos and a second rental building, plus provides an opportunity to build infrastructure to bring superstores Whole Foods and a Barnes and Noble to the mix of smaller scaled Tribeca boutiques. Riverhouse at One River Terrace is a green residential condo building which, as the name implies, sits directly on the last river front site in Battery Park City. Both 101 Warren and Riverhouse are represented by Corcoran, and are available through me for for pre-sales. The new headquarters of Goldman Sachs is a 43 story, LEED certified (as are 101 Warren and Riverhouse too) 'green' office tower, and was the center of some controversy about the role played by of city and state incentives.

These are just a few of the new developments in the area. The effects of them will certainly be felt over the next few years. This growth requires the building of sufficient public infrastructure, which is seems lagging behind in the vision of a revitalized downtown. Creating thousands of new homes requires more classrooms than the six that were negotiated as an annex to PS 234 as part of the development deal at 200 Chambers St., which abuts the school's site. The new Beekman School was in doubt for a while due to funding shortfalls from Albany a few years ago. Its back on track as a part of the development of 75 story mixed use tower near Pace University, however it completion has been delayed until 2009, if it delivers on time— whereas the residential buildings mentioned above are slated for delivery later this year. The cultural center that was imagined as part of the redevelopment of ground zero is now largely in a state of flux as well. There are real benefits and challenges to the rapid pace of development for all of us whom live and work here. It is clear too that we must be diligent as a community if the things which have made the area so attractive to new residents, are to continue for future generations downtown.

updated 12.06.2008

related story: springtime in Tribeca sees +17% appreciation