Hudson Square Properties has broken ground on 555 Greenwich, a 16-storey office tower project in the heart of the Hudson Square neighbourhood in New York City (NYC), US.
Hudson Square Properties is a joint venture (JV) of Trinity Church Wall Street and Norges Bank Investment Management. Hines serves as the operating partner.
The 270,000ft² tower will provide retail space on the ground floor with office space above.
The façade of the building will feature several setbacks with outdoor terraces and floor-to-ceiling windows.
Aligning and combining with the existing 345 Hudson Street, the new building will contribute to the transformation of the former printing and warehouse district into a residential, commercial and retail community.
Planned to be completed in the fourth quarter of 2022, the tower is expected to exceed NYC’s 2030 climate goal for office buildings by more than 45%.
The building will also feature a thermally activated slab with a radiant activated system designed to reduce CO₂ emissions by 50%.
AECOM Tishman is responsible for providing construction services while real estate services and investment firm CBRE Group will serve as exclusive leasing agent for the office tower.
Cookfox Architects has designed the building, for which Jaros, Baum and Bolles will provide mechanical, electrical and plumbing (MEP) services.
Cookfox Architects founding partner Rick Cook said: “The building will combine an authentic architectural expression rooted in Hudson Square, with pioneering building systems to create a whole that is greater than the sum of its parts and will serve as a model for the future of New York.”
The project, which is expected to cost approximately $175m for construction, will create more than 1,000 construction jobs.
Hines senior managing director Tommy Craig said: “This is especially true as it relates to the amount, quality and variety of collaborative space the new building contains.”
Trinity Church Wall Street asset management managing director Sujohn Sarkar said: “Greenwich Street has evolved into a thriving mixed-use corridor and we hope this one-of-a-kind office and retail building, designed with thoughtful contextuality and a sense of place, will serve as a neighbourhood pillar for years to come.”