By Dana Rubinstein

June 27, 2008 | 12:31 p.m

Developers broke ground on the silver-skinned, 65-story tower planned for 50 West Street in Lower Manhattan.

On June 23, New York-based developer Time Equities Inc. marked the occasion with, appropriately enough, an organic breakfast from the local bakery Financier.

Not only was the breakfast-cum-groundbreaking religiously eco-friendly, but it was also religious.

According to the release, "Vicar Anne Mallonee, The Reverand Mark Bozzuti-Jones and Rabbi Schmaya Katz blessed the site and spoke of hospitality, unity and sustainability as they welcomed their new neighbor."

It's all in keeping with the firm's meticulous political correctness. The developers are anticipating that the residential and hotel building will get LEED-gold certification thanks to the incorporation of technologies like a green roof, water-efficient plumbing, automated blinds, and sustainable construction materials.

Read the full release below:

 

Groundbreaking of Skyline-Changing Tower Downtown

New York-based developer Time Equities, Inc. hosted a groundbreaking event on June 23 to celebrate Lower Manhattan’s iconic hotel and residential skyscraper, 50 West Street. Over 100 guests, including politicians, community officials and project partners, joined Time Equities to break ground on the site of the 65-story tower and enjoy organic breakfast catered by local bakery Financier.

With a soaring 20-foot banner of 50 West Street in the background, honored guests Seth Pinsky, president, Economic Development Corporation and Alan Gerson, Councilmember, joined Francis Greenburger, CEO and Chairman, Time Equities, on stage to speak about the importance of this extraordinary addition to Lower Manhattan. Vicar Anne Mallonee, The Reverand Mark Bozzuti-Jones and Rabbi Schmaya Katz blessed the site and spoke of hospitality, unity and sustainability as they welcomed their new neighbor.

 

 

This green residence and boutique hotel, which anticipates LEED-Gold certification when completed, will include sustainable technologies, such as a green roof, water-efficient plumbing fixtures, automated blinds and energy control systems. Demolition waste will be recycled, and the new construction materials will be sustainable and rapidly renewable. Both hotel and residences will feature an energy efficient glass facade to promote use of daylighting and filter UV rays.

 

The 50 West Street project is expected to create 740 construction jobs and 175 permanent jobs. As a fantastic example of public-private partnership, Time Equities will donate $4.6 million to the Department of Housing Preservation and Development’s affordable housing preservation fund, $350,000 to the NYC Board of Education for a Lower East Side Space Sciences Center and $430,000 to local P.S./I.S. 89 for a computer science program including computers for a new computer lab.

Designed by world-renowned architect Helmut Jahn, the $600 million, 580,000-square-foot mixed-use tower will be completed in 2011. The project will provide a critical pedestrian passageway that links the southern part of Battery Park City to Wall Street, Rector Street’s booming retail corridor, and Downtown transportation hubs. 50 West Street will contain 280 residential units and 155 hotel and retail units. The architect of record is New York City-based Gruzen Sampton.

About Time Equities:

 

Privately-held Time Equities Inc. (TEI), founded in 1966, has been in the real estate investment, development and asset & property management business for more than 40 years. With properties in 26 states, four Canadian provinces and Germany, the TEI portfolio consists of approximately 20.4 million square feet of residential, industrial, office and retail property.

 

Designed by world-renowned architect Helmut Jahn, the $600 million, 580,000-square-foot mixed-use tower will be completed in 2011. The project will provide a critical pedestrian passageway that links the southern part of Battery Park City to Wall Street, Rector Street’s booming retail corridor, and Downtown transportation hubs. 50 West Street will contain 280 residential units and 155 hotel and retail units. The architect of record is New York City-based Gruzen Sampton.

About Time Equities:

 

Privately-held Time Equities Inc. (TEI), founded in 1966, has been in the real estate investment, development and asset & property management business for more than 40 years. With properties in 26 states, four Canadian provinces and Germany, the TEI portfolio consists of approximately 20.4 million square feet of residential, industrial, office and retail property.