Hudson Square Properties breaks ground for next gen’ green skyscraper

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Hudson Square Properties, a joint venture of Trinity Church
Wall Street and Norges Bank Investment Management with Hines the operating partner,
have broken grounf 555 Greenwich, a 270,000 s/f 16-story office tower in Hudson
Square neighborhood.

The tower represents the next level of high-performing
buildings and will be a benchmark for sustainable and responsible development
in New York City into the future.

 555 Greenwich will
exceed NYC’s 2030 climate targets for office buildings by over 45 percent while
meeting NYS’s 2050 carbon neutral targets.

The new office tower will align and combine with the
existing 345 Hudson Street to advance the ongoing transformation of this former
printing and warehouse district into a thriving residential, commercial and
retail community.

It is the first speculative office development in New York
City to break ground in the wake of the pandemic. Completion is projected for
the 4th quarter of 2022.

AECOM Tishman will provide construction services. A CBRE team led by Paul Amrich will serve as exclusive leasing agent for 555 Greenwich.

555 Greenwich rendering

“555 Greenwich is an embodiment of Trinity’s stewardship and
commitment to the long-term growth of the Hudson Square neighborhood. The
sustainable construction methods we’ve employed have far-reaching implications
and provide a roadmap for sustainable practices throughout Trinity’s portfolio
and beyond,” said Sujohn Sarkar, Managing Director, Asset Management, Trinity
Church Wall Street.

“Through the design by COOKFOX Architects, we’ve endeavored
to deliver a building that will stand the test of time, both functionally and
aesthetically.”

The building was designed with leading-edge clean energy
technology and the most advanced building systems available to create a healthy
environment for tenants and minimize the environmental impact of the project.

555 Greenwich is targeted to achieve the highest rating
(LEED Platinum) for sustainability, with state-of-the-art sustainable mechanical,
engineering and plumbing systems, including geothermal piles, and is the first new
office building to utilize its concrete superstructure for thermal energy
storage. All of this will create an expected 46 percent overall carbon
reduction and a 29 percent reduction in electrical consumption. The team
collaborated with global sustainability design experts to ensure this office
tower will be one of the most efficient buildings in New York City.

Jaros, Baum and Bolles is providing MEP services for 555
Greenwich.

555 Greenwich represents the first office building to
utilize a thermally activated slab with a radiant activated system which
reduces carbon emissions by 50 percent while eliminating any fossil fuels
utilized for heating and cooling. It will also employ a DOAS system to maximize
the quantity and quality of fresh air to the workplace, which will be supplemented
by geothermal wells and more than 10,000 square feet of outdoor space.

“The design of 555 Greenwich puts the employee experience at
the forefront of all other considerations,” said Tommy Craig, senior managing
director of Hines, which is operating member and the developer for Hudson
Square Properties together with Trinity Church. “This is especially true as it
relates to the amount, quality and variety of collaborative space the new
building contains. The combination of both buildings offers exceptional
flexibility for major tenants to configure their space and floor size in a way
that can be customized to the new workplace environment users will be expected
to deliver in a post-Covid environment.”

555 Greenwich will include retail at the ground floor and
office space above. The façade will feature numerous setbacks with outdoor
terraces and floor-to-ceiling windows. Upon completion, the building will
connect to the adjacent 345 Hudson Street on nearly every floor, providing
users with uncommonly large floorplates.

Approximately $175 million in construction costs will
support the development of 555 Greenwich Street including the creation of over
1,000 primarily union jobs during the 26-month construction process.

“Greenwich Street has evolved into a thriving mixed-use
corridor, and we hope this oneof-a-kind office and retail building, designed
with thoughtful contextuality and a sense of place, will serve as a
neighborhood pillar for years to come,” added Trinity’s Sarkar.

Gale Brewer, Manhattan Borough President said: “The intense planning and preparation to launch this project progressed even through the historic disruption caused by the Covid19 pandemic. 555  Greenwich will raise the bar for sustainable development in the city and on a global stage as the world watches our city break the mold for environmentally responsible development. It will be a gift that keeps on giving well into the future.”

Shown, left to right, Vicki Been, New York City Deputy Mayor; Rachel Loeb, NYCEDC President and CEO; Mel Ruffini, executive vice president, AECOM Tishman; Gale Brewer, Manhattan Borough President; Sujohn Sarkar, Managing Director, Asset Management, Trinity Church Wall Street; Tommy Craig, Senior Managing Director of Hines; Rick Cook, Founding Partner of COOKFOX Architects.

 

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