Thanks to the World Trade Center, Greenwich Street is seeing a big development boom downtown. Once a main thoroughfare connecting Greenwich Village and Lower Manhattan, the street was severed with the construction of the the old WTC superblock, and real estate on the southern part hasn't fared as well as the addresses to the north. With the reconnecting of the street and the opening of the WTC?all of the towers will have Greenwich Street addresses?developers are taking advantage of the street's resurgence. The Times looks at some of the projects in the works, which include at least three hotels, lots of retail space, and a new office building all on Greenwich, plus a handful of other hotels on the surrounding blocks. "It is literally as if a new city is being built around Greenwich Street," said one developer.
A few highlights: the world's tallest Holiday Inn with 350 rooms is rising at 99 Washington Street; the former American Stock Exchange site will have 100,000 square feet of retail and a 174-key hotel; and the vacant lot at 133 Greenwich Street, which Hidrock Realty bought for $27.9 million in April, will be a 320-room hotel with 5,000 square feet of retail on the ground floor.
· Sundered Greenwich Street Will Be Rejoined [NYT]
Image via Silverstein Properties