Lower Manhattan is New York’s new «IT» spot
Brookfield Place is a clear indication that Lower Manhattan has become the new luxury retail.
On March 26, 2015, construction manager, Turner Interiors, turned over 120,000 s.f. of pristine luxury retail space known simply as 230 Vesey Street within Brookfield Property Partners’ 375,000 s.f. retail offering at Brookfield Place. The renovation, part of Brookfield’s $300 million transformation of the former World Financial Center, is a clear indication that Lower Manhattan has become the new luxury retail, dining and cultural «it» spot. Fueling this trend has been the relocation of technology, advertising, media and information (TAMI) firms, such as Time Inc., whose 700,000 s.f. headquarters is under construction at 225 Liberty Street, and an influx of luxury residential developments.
In addition, new and planned tourist destinations, such as the National September 11 Museum and Governors Island, which will re-open on May 23, 2015 after undergoing extensive site improvements, are attracting tourists from all over the World. Brookfield Place is part of over 2 million square feet of new and repositioned retail, dining and cultural space that caters to residents, professionals, and tourists living, working and playing in Lower Manhattan.
«The success of this project is not only attributed to our ongoing relationships with the project’s stakeholders, but also to our understanding of the value that Brookfield placed on this project, and its importance in revitalizing Lower Manhattan», said Edward Magnani, vice president at Turner Interiors.
Home to luxury brands DVF, Michael Kors, and Theory, 230 Vesey Street also serves as a pedestrian artery connecting the 250 and 200 Vesey Street buildings to the Winter Garden, Marina and World Trade Center Transportation Hub. As such, construction manager Turner Interiors negotiated complex site logistics to ensure that critical pathways in and out of Brookfield’s 8 million square foot complex remained 100% accessible to building occupants.
Since the start of construction in July 2013, Turner constructed «pedestrian chutes» spanning hundreds of feet between the adjoining buildings. These chutes, comprised of sidewalk sheds constructed within the existing pathways, were used to support fire safety systems, such as smoke detectors and sprinkler heads. The sheds were then sealed behind a layer of drywall, giving the new pathways a finished look.
As project phases were completed, the chutes were deconstructed and repositioned to facilitate future renovations. «During this entire process we remained in constant communication with the client, design team and community groups», said Lauren DiNizo, project manager at Turner Interiors.
With venerable couturiers Hermes, Salvatore Ferragamo and a Saks Fifth Avenue luxury outpost confirmed as tenants, Brookfield Place sits at the center of more than $25 billion of new construction that has transformed 30 acres of Lower Manhattan into the definitive destination for retail, dining and culture.
