Time Equities Breaks Ground on 65-Story Skyscraper in New York, LEED Gold Expected

By Erika Schnitzer, Associate EditorNew York–Time Equities Inc., a New York-based development and management firm, broke ground today on 50 West Street, one of several new high-rises expected to rise up just south of the World Trade Center site in Lower Manhattan.New York City Council Member Alan Gerson and Economic Development Corporation President Seth Pinsky, along with local school officials, clergy members and politicians, joined Francis Greenburger, CEO and chairman of Time Equities, at the event.The 65-story hotel and residential tower will serve as an “iconic presence in the downtown skyline,” remarked Greenburger. Additionally, the development will provide a pedestrian plaza linking Battery Park City to Wall Street, Rector Street and downtown transportation.Designed by architect Helmut Jahn, the tower will include 280 condominium units, amounting to 440,000 sq. ft., and 140,000 sq. ft. of hotel and retail space. The project is expected to achieve LEED Gold certification upon its completion in 2011. The development will feature a green roof, water-efficient plumbing, energy control systems and an energy-efficient glass façade that will use daylight and filter UV rays. Additionally, demolition waste will be recycled and construction waste will be renewable.In addition to its contribution to the environment, the project is an example of a private and public sector collaboration and will create over 700 temporary and 175 permanent jobs.”It’s truly a great project for the city,” stated Pinsky.