One of the newest developments in the city will also be one of the greenest. Time Equities, Inc. hosted a groundbreaking ceremony on June 23rd of this year, to kick off their newest mixed-use development in the city, at 50 West St.
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By: John Noble One of the newest developments in the city will also be one of the greenest. Time Equities, Inc. hosted a groundbreaking ceremony on June 23rd of this year, to kick off their newest mixed-use development in the city, at 50 West St. The groundbreaking was attended not only by community leaders who have an interest in the area, but was also given the blessing of several religious leaders who attended the ceremony. The development, designed by Helmut Jahn, is Jahn's first building in the city in over 20 years.
The building will provide not only mixed use for condos, hotel rooms, and shopping, but will also provide a pedestrian walkway linking Battery Park City to the Financial District. The building uses a sustainable model, incorporating green roof models, and a very efficient water-handling system, designed to greatly decrease waste. The building will feature automated blinds, designed to limit the exposure of the interior of the building to the most direct sunlight. In addition to those measures, the 65 story tower will incorporate a glass facade to limit UV exposure, and is designed to be completely carbon-neutral.
The development will house 240 residential condos and 150 hotel and retail spaces, and is expected to be completed by 2011. Time Equities, Inc. will own the building, and has been in the property management business for over 40 years. In total, TEI controls over 20 million square feet of of property.
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