New York Gov. Kathy Hochul: 5 World Trade Center a Go

The 900-ft-tall 5 World Trade Center is a go after months of back and forth thanks to a vote by the Public Authorities Control Board, New York Gov. Kathy Hochul announced at a press conference on July 27. Designed by Kohn Pedersen Fox (KPF) and developed by a team that consists of Brookfield Properties, Silverstein Properties, Omni New York and Dabar Development Partners, the skyscraper will bring 1,200 apartments to Manhattan’s Financial District as the only residential project at the WTC redevelopment site, The Real Deal is among outlets to report. It will receive considerable government funding: US$40 million from the Hochul administration, US$20 million from the state legislature and US$5 million from the Battery Park City Authority. Project critics sought 100% affordability for the residential units; 33% percent (400) ended up being affordable, with 80 units offered to 9/11 survivors. 5 World Trade Center will also include office and retail space.