Tishman Speyer to begin construction of The Spiral in US

11 April 2018 (Last Updated April 11th, 2018 12:22)

American real estate company Tishman Speyer is to begin construction of New York-based office tower The Spiral in June.

Tishman Speyer to begin construction of The Spiral in US
Rendering of The Spiral’s cascading terraces. Credit: Tishman Speyer/PR Newswire Association LLC.

American real estate company Tishman Speyer is to begin construction of New York-based office tower The Spiral in June.

Designed by architecture company BIG-Bjarke Ingels, the new 1,031ft-high-rise structure has 65 storeys and will feature a cascading series of landscaped terraces and hanging gardens as its signature element.

Located at 66 Hudson Boulevard in Manhattan, The Spiral will have one terrace per floor in a spiralling motion in order to create a continuous green pathway that surrounds tower façade and supplies occupants with readily accessible outdoor space.

Located at the intersection of the High Line and the four-acre Hudson Boulevard Park, the building’s cascading terraces will visually extend these new, linear green spaces to the sky.

The new tower will include a full-block that will stretch from West 34th to West 35th Streets, as well as from 10th Avenue to the Hudson Park and Boulevard.

With a six-storey base, the building’s main entrance will be located on Hudson Boulevard East and 10th Avenue, and the lobby of the building will have a ceiling height of nearly 28ft.

“With its iconic design, amazing views and abundant access to outdoor amenity spaces, The Spiral will serve as a major leap forward in the evolution of the modern workplace.”

The base of the building will also feature nearly 25,000ft² of first-class retail space.

US-based pharmaceutical company Pfizer has also signed a 20-year lease agreement with Tishman Speyer to relocate its global headquarters from 235 East 42nd Street to The Spiral.

According to the agreement, Pfizer will occupy 15 full floors and certain portions of the lobby level upon completion of the 2.8 million-square-foot Hudson Yards tower in 2022.

Tishman Speyer president and CEO Rob Speyer said: “Tishman Speyer is thrilled to welcome Pfizer as the anchor tenant in The Spiral, the world’s most connected and collaborative office environment.

“With its iconic design, amazing views and abundant access to outdoor amenity spaces, The Spiral will serve as a major leap forward in the evolution of the modern workplace.”

The $3.7bn project will be financed with $1.9bn in equity from Tishman Speyer and a $1.8bn construction loan from Blackstone Mortgage Trust and other investors.

Pfizer chief operating officer Albert Bourla said: “Pfizer has a proud and storied history in New York City that began in 1849.

“We are excited that this move will provide our colleagues with a modern, state of the art headquarters that will enable us to continue to fulfil our desire to be the most innovative biopharmaceutical company dedicated to discovering and bringing new therapies to improve the lives of patients around the world.”

New York-based Turner Construction has been appointed as the construction manager for The Spiral project, which is expected to create nearly 7,600 jobs during the construction period and more than 7,100 permanent office, retail and building-service jobs upon completion.