Brookfield, Silverstein to develop residential tower on World Trade Center Campus

The Port Authority of New York and New Jersey Board of Commissioners and the Lower Manhattan Development Corporation Board (LMDC) has approved the recommendation of the selection committee for the RFP to develop World Trade Center Site 5. A partnership led by Brookfield Properties and Silverstein Properties has been selected to enter into exclusive negotiations for a lease for the development of a residential tower on the World Trade Center Campus.

The proposal for the future 1.56 million-square-foot mixed-use building currently anticipates approximately 1.2 million square feet of residential space or 1,325 residential rental units — of which 25 percent, or approximately 330 units, would be permanently affordable. The building would also include approximately 190,000 square feet of office space.

In addition, it will have a 12,000-square-foot community facility space, as well as 55,000 square feet of public amenity space and 7,000 square feet of retail. The developmen