NEW YORK (AP) New York City is building an office building that has been in development for more than a decade, but it’s not ready for the real estate market.
A rendering of the project showed the building will have about 1,500 square feet of offices and a restaurant.
It’s one of about 30 offices slated for the city’s flagship office complex, which is undergoing a $3 billion renovation.
New York Mayor Bill de Blasio and New York City Council Speaker Melissa Mark-Viverito announced plans Thursday to get to work on the project that has taken nearly a decade to get going.
They say the project will create nearly 3,000 jobs.
It will be a massive project that will transform a once-mighty Manhattan building into one of the citys largest office complexes, said city spokesman Kevin Ortiz.
It also is expected to be a catalyst for the development of more than 5,000 new apartments.
The construction is expected take about four years.
The building will sit on 1,400 acres at the southwest corner of the East River, across from the World Trade Center and along the waterfront.
It is expected for a 20-year lease at about $2 million per year, with an option to renew for another 20 years.
The building will be built in a new complex of four buildings that have been built by the firm of Skidmore, Owings and Merrill.
Its architect, the firm, is New York-based Gensler, which also is constructing the city building.
Gensler is expected be the lead architect on the city project.
The firm’s founder, John SkidMORE, has been working with the city for years to develop an ambitious project.
The firm says it was selected by the city to build the $2.5 billion project because of its expertise in planning, design and execution.
Skidmore has built large, modern buildings across the United States.
In 2007, the company won a $15.4 million grant from the National Science Foundation to build a state-of-the-art office tower in Washington, D.C.