Proposed - World Product Centre - 1.2 million sf - Eleventh Ave @ West 34 St - by KPF

[antinimby]

Manhattan: Agreement on West Side Medical Tower


By CHARLES V. BAGLI
Published: August 1, 2007 (http://www.nytimes.com/2007/08/01/nyregion/01mbrfs-tower.html)

Two New York developers have signed an agreement to build a 1.2 million-square-foot office tower on the Far West Side that would serve as a hub for manufacturers of devices, diagnostics, computer systems and other equipment for the medical industry.

The developers — Gary Barnett, the chief executive of the Extell Development Corporation, and Israel Green — said they planned to begin construction in early 2009. The tower would rise at 11th Avenue and 34th Street, on a site that is now home to the Copacabana nightclub.

Mr. Green has spent five years developing the concept and pursuing a Manhattan location. He said it was an opportunity for New York City to become the principal center for the $260 billion global market for medical devices and diagnostics. The project may have to wait until the city completes part of an extension of the No. 7 subway line, which passes beneath the site.

Copyright 2007 The New York Times Company

[antinimby]

The site of this latest proposal, which as the above article indicated, is currently home to the Copacabana (http://www.copacabanany.com/) nightclub (whose address is 560 W. 34 St.) should not be confused with another entirely separate but nearby proposal (http://wirednewyork.com/forum/showthread.php?t=7800), just across 34 St. to the north.

[Hamilton]

Considering that the Copacabana is 3 floors and 50,000 square feet, a 1.2 million square foot building that occupies the same footprint with no setbacks would have 72 floors. I'm sure we'll see this proposal downsized or canceled altogether, however.

[londonlawyer]

Considering that the Copacabana is 3 floors and 50,000 square feet, a 1.2 million square foot building that occupies the same footprint with no setbacks would have 72 floors. I'm sure we'll see this proposal downsized or canceled altogether, however.

This will happen, and I'll bet that it's an awesome design, since Extell -- unlike Macklowe and Chang -- are committed to trophy projects.

[kliq6]

This one will happen and they are in talks with a fortune 500 firm in taking about 500,000 sf, which will put this project in the fast track to start

[elfgam]

This one will happen and they are in talks with a fortune 500 firm in taking about 500,000 sf, which will put this project in the fast track to start

what else can you tell us?

this project is going to be a great addition to the city not only architecturally but economically -- it's good to see developers thinking strategically... if the city is smart they will encourage this.

[antinimby]

COPA SITE'S NEW IDENTITY

FORMER NIGHTCLUB TO BE A CUTTING-EDGE MEDICAL SHOWROOM



August 1, 2007 (http://www.nypost.com/seven/08012007/business/copa_sites_new_identity_business_lois_weiss.htm) -- THE former Copacabana site at the southeast corner of 34th Street and Eleventh Avenue is morphing into an approximately 1.5 million-square-foot skyscraper that could become the home of the World Product Centre, a showroom that will feature the latest in high-tech medical equipment.

WPC is the brainchild of Israel Green, who has just signed a letter of intent with Gary Barnett for a "full 1 million square feet," which will be about 70 percent of this new Extell Development project.

The 45- to 50-story building is being designed by Kohn Pedersen Fox with WPC innards by FXFowle Architects.

Green is still evaluating the costs of environmentally friendly construction but laughed, "It will make me happier because my name is Green."

Already, Green has $100 million from Hewlett-Packard to install the latest devices into what will become a sales and educational center for diagnostics, equipment and supporting systems tied to the medical field.

John Powers of CB Richard Ellis worked with Green on finding a location but didn't return a call for comment.

The WPC Web site has to be updated. It still shows the FXFowle-designed SJP Properties office tower at 11 Times Square as its future home.

Green explained that L-shaped building didn't work for his needs. The new one would be ready in 2012.

Copyright 2007 NYP Holdings, Inc.

[NoyokA]

Extell is out of control.

[antinimby]

...and thankfully so.

I trust FXfowle, they will do a good job here.

[NoyokA]

...and thankfully so.

I trust FXfowle, they will do a good job here.

FX Fowle will be doing the interiors. KPF will be doing the building.

[matteofi]

now KPF has a lot of work in Nyc!

[antinimby]

FX Fowle will be doing the interiors. KPF will be doing the building.Damn it! I would have preferred it to be the other way around. Now we can be sure that it'll be boxy. :(

[londonlawyer]

Damn it! I would have preferred it to be the other way around. Now we can be sure that it'll be boxy. :(

I don't think so. Extell is building some cool stuff these days.

[elfgam]

Damn it! I would have preferred it to be the other way around. Now we can be sure that it'll be boxy. :(

Not only that, but outside of NYC most of KPF's work is amazingly fluid and well executed... on a more open site like this (as opposed to down in the WTC) KPF will have the room to design something more savy.

[sfenn1117]

Yeah, I think KPF will do something great here with virtually no restrictions and an architecturally sensitive developer. Looking forward to this one.

[macreator]

Please KPF, no box or beer belly on this site ;)

[kliq6]

West Side Analysis: Ball Begins to Roll
By Natalie Dolce

NEW YORK CITY-World Product Centre LLC, a showroom that will feature the latest in high-tech medical equipment, intends to occupy one million sf at the former Copacabana site located on 34th Street and 11th Avenue. If all goes according to plan, Extell Development Co. will construct the specially designed building, commencing at the beginning of 2009 and to be completed by 2012. The question is, in an area that is in the process of experiencing such a huge redevelopment boom from Eighth Avenue to the Hudson River, what will this addition mean for the West Side?
The WPC is designed to reflect the needs of doctors, hospital administrators and purchasing agents in sourcing, selecting and integrating advances in medical technology into their facilities, bringing together manufacturers of innovative medical devices, diagnostics, equipment and supporting systems under one roof.

Israel Green, the entrepreneur behind the visionary project and chairman and president of World Product Centre LLC notes that this is the most exciting economical project in New York City for the last 30 to 40 years. “This facility will attract millions of people from all over the world,” he tells GlobeSt.com.

Located across the street from the soon-to-be expanded Javits Convention Center and adjacent to the planned subway station, the site will bring tens of thousands of doctors, hospital administrators and purchasers annually to New York City, according to the WPC. Annually, the general public, broader healthcare community and the medical industry bring approximately three million visitors to the city, which will enhance and support visitors to the World Product Centre, according to the company.
Jeffrey Katz, president & CEO of locally based Sherwood Equities Inc., who owns properties just east of the site, tells GlobeSt.com that he is optimistic about what this deal means for the area. “It is taking no market risk,” he says. “It will be great for the neighborhood and it will prompt many others to follow suit.”

Katz further explains that it is hard to find a specialty building in this area for this type of service. Green agrees that with the prime location and amount of square footage with 17-inch ceiling heights, it is difficult to find a footprint like this. “We can expand up to 1.5 million sf and that sort of space just doesn’t exist in Manhattan,” he notes. “There were large chunks of space available, such as 11 Times Square that we looked at, but it was in an ‘L’ shape, only about 750,000 sf and didn’t fit in with our plans.”

As of now, WPC has signed a letter of intent with Gary Barnett’s Extell Development to occupy the building. The letter is a key component of the project because it allows WPC to begin signing lease/licensing agreements with medical device manufacturers around the world to establish their presence in the facility. Katz adds, “It is getting the ball rolling.”

[ramvid01]

...with the prime location and amount of square footage with 17-inch ceiling heights...

That is either one big typo or they have ants that work for them :D.

[BrooklynRider]

The number and scale of developer proposals for the Far West Side is rather staggering. If all of these get funded, it will be huge (and tall.)

[kliq6]

agreed this will be the start of alot of building in this area. a major medical tester/provider is seriously looking at taking space here

[Zephyr]

Nice to know who will be working on it - but until you see it, what can you say? As much as I like KPF, they can be good or bad, and I am assuming that William Petersen is still the main designer.

[Derek2k3]

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[londonlawyer]

http://farm2.static.flickr.com/1180/1110260983_5cb3b49877_o.jpg


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Will that crappy Fed Ex building be razed too?

[Derek2k3]

Yup, pretty soon they will make way for the 7 line and its 34th St terminal.

[scumonkey]

pretty soon they will make way for the 7 line and its 34th St terminalI thought that that part of the extension had been cut out, as it cost way more than they thought or have money for?!
Last I heard it would extend west, but not south as had been anticipated.
(I could be wrong)

[londonlawyer]

Yup, pretty soon they will make way for the 7 line and its 34th St terminal.

Awesome!

[ASchwarz]

I thought that that part of the extension had been cut out, as it cost way more than they thought or have money for?!
Last I heard it would extend west, but not south as had been anticipated.
(I could be wrong)

Not true. There has been debate about delaying the 41st Street station and just building the terminal first, but the new MTA head has indicated that he will try and build both stations at once.

There was never any consideration about shortening the extension. The issue was whether the 41st Street station should initially be built as a "shell" station and improved once all the new towers are finished.

[Tectonic]

Is the 7 line going to run above ground. That might be a lil ugly.

[scumonkey]

Not true.
Thats good to hear....Does anyone have any info on the station that was built
in front of the Javits center but never opened, will this be connected- is it the south leg of the extension?

[ASchwarz]

Is the 7 line going to run above ground. That might be a lil ugly.

LOL, no it will be underground.

[ASchwarz]

Thats good to hear....Does anyone have any info on the station that was built
in front of the Javits center but never opened, will this be connected- is it the south leg of the extension?

There's no existing staton in front of Javits. The station will be brand new.

Maybe they did some excavation work decades ago?

[scumonkey]

There are stairs and entrances for subway access on both side of 11th in front of the Javits.
The east entrance is kinda hidden by that ugly fountain park thingy
across the street another is just inside the parking lot-Front center- to the right, in front of the Big Sign.
A third is under the Upper front entrance. This one is framed by glass block, and on the walls surrounding the stairs leading down,
the typical white subway tile. They were put in and sealed off ages ago.
These could be for something else but I was told when they were building it that's what they were for?
http://i211.photobucket.com/albums/bb276/scumonkey/subE.jpg

[stache]

I always wondered what that round divot was for in the little park.

[Derek2k3]

They've filed demolition permits for the Copacabana building.

[Optimus Prime]

Was the plan to make this a product exhibit center tied to its proximity to Javits? If so, I wonder if they will re-think that plan?

[londonlawyer]

I wonder what the World Product Centre is and how much space it currently occupies.

Maybe, it's a front for Israel Green's and Gershon Barnett's Israeli mob connections to the "diamond industry."

[Derek2k3]

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[londonlawyer]

Is the Copacabana also being demolished currently? Is it already gone?

If the WPC is being built, I hope that Extell does something nice and not another lame building like the Diamond Tower.

[Derek2k3]

Yea the Copacabana is gone. Some work for the 7 Train Extention must be done before Extell can build though. At 366 10th a new construction fence is up and a trailer is parked outside the site.

[londonlawyer]

Thanks for the info.

Do you have any photos of the site with the Copacabana gone?

I've heard from a very reliable source that the WPC is definitely going forward. Since this will be one of the premiere office areas in the city, I hope that a nice, pioneering project is constructed there.

PS: Thanks for the news re: 366 10th.

[Derek2k3]

Great news.


http://www.nycedc.com/Web/NYCBusinessClimate/CentralBusinessDistricts/HudsonYardsCBD/

Site #4:
Owned by Extell Development and located between 33rd and 34th Streets, and between 10th and 11th Avenues, this site can accommodate up to 1.5 million SF of development. In August 2007, the World Product Centre signed a letter of intent for 1million SF for construction of a medical mart. Construction is expected to commence in 2009.



http://farm4.static.flickr.com/3070/2598806175_a4895a81a0_o.jpg
This was the site of the Copa.

[londonlawyer]

Thanks!

[philvia]

and ideas of how tall this will be? looks like it could accommodate more than 1msf

[antinimby]

It all depends on configuration but to give you an idea, the NY Times tower is also 1.5 mil.

[kliq6]

Im hearing about 800 feet.

[Tim F]

I just noticed some more info on the building on the world product centre site.

http://www.worldproductcentre.com/contact/building.html

Looks like these guys really know what they are doing.

[londonlawyer]

I'm not that thrilled with the building; it's not bad but not great either. I guess it depends how the skin turns out though the skin does look nice in the close-up. This was a good find nonetheless.

http://www.worldproductcentre.com/contact/building.html

[scumonkey]

But because of this....

MTA Subway extension

The 7-train extension project, serving the redevelopment of the Hudson Yards area, contains plans to house a subway stop directly underneath World Product Centre.
You won't be seeing anything rise up from this site for quite a while;)

[Derek2k3]

Thank you for posting that.
It looks nice. They said to be completed Winter 2013. 978' tall

http://farm4.static.flickr.com/3056/2822376918_d253bdb251.jpg

http://www.worldproductcentre.com

[Derek2k3]

http://farm4.static.flickr.com/3168/2821596429_354f9c024b_o.jpg


http://farm4.static.flickr.com/3131/2821602353_956fb042ff_o.jpg
They located the building on the wrong site in the location diagram. This is where the Steven Holl tower will rise.

[NYC4Life]

This is going to be a great tower.

[lofter1]

Steven Holl tower will rise one block east at Tenth / 31st (east side of the block).

This is showing a site at 30th < > 31st / Tenth <> Eleventh :confused:

Note the south end of the High Line running along the southern edge of the site -- that is 30th STreet.

34th Street at Eleventh is where the (3) is shown

[Derek2k3]

Your right, they're showing the tower in the middle of Hudson Yards.

Another image...on all the renderings a small note states that the renderings may not reflect the final design. So maybe it's downhill from here.

http://farm4.static.flickr.com/3158/2822597100_38c47102af_o.jpg

[scumonkey]

They said to be completed Winter 2013. 978' tallNOT gonna happen.....I walk by this site everyday.
The people working on the 7 line extension said they would not be able to turn the site over for constructing a building there
for at least 4 or 5 more years.:o

[philvia]

this looks the SOM building in korea

[Ebola]

I love it. I love it. I love it. I just came.

If NY needs anything, it's stuff like 3WTC, Hearst Tower, 53 West 53rd, and this.

[Antares41]

Well enough with the cross-bracing, WTC3, Hearst, and the much anticipated 53 W53rd have got that feature covered. I was hoping for something more adventuresome. Nevertheless the height is fantastic.

[lofter1]

This image shows the bulding sitting between 34th Street (at left ) <> 33rd ...

Note the double-block hulk sitting at the far right. That brutal thing sits on the east side of Tenth over the RR tracks between 33rd <> 31st Streets.

http://farm4.static.flickr.com/3158/2822597100_38c47102af_o.jpg

[antinimby]

I'll take it. The top could be a little less flat but overall, I'll gladly take it.

By the way, the MTA could learn a few things from this subway entrance, which if realized, will immediately be the finest subway entrance in the entire city.

http://farm4.static.flickr.com/3056/2822376918_d253bdb251.jpg

[Peteynyc1]

http://farm1.static.flickr.com/120/314631467_bfbd05330a_b.jpg

[Derek2k3]

I like the diagrid. Hearst is not the first tower to use it, just the first in NY. I see no problem in "copying" good ideas. No different than copying the gridded glass box, as we have been doing for decades.
The design also seems to take cues from the Javits Center. Still needs more...


The planned far west side skyscrapers look ho-hum for the most part. It's just exciting to see so many tall towers rise in one area. There are 11 500'+ towers on the railyards alone.
http://farm4.static.flickr.com/3231/2802926311_3aeca06f0c_o.jpg

http://farm4.static.flickr.com/3068/2822832797_a40ef09484_o.jpg

There's also an 828' 66 story tower one block south of the railyards on 12th & 30th.

[antinimby]

FoxFowle is the architect for this tower, in case anyone may have been wondering.

[Derek2k3]

I believe it's KPF with FXFowle designing the interiors.

[lofter1]

There's also an 828' 66 story tower one block south of the railyards on 12th & 30th.
That's the alternative (and original) site for the controversial NYC Department of Sanitation Garage (now being discussed for a site at Spring / Washington / West).

[Chrysler New Yorker]

But because of this....
You won't be seeing anything rise up from this site for quite a while;)

Of course they can build this scraper before the subway is there. Just build around the subway tube underground where the MTA plans to build the station. Obviously their must be communication between the developers, but they could pull it off.

[TREPYE]

http://farm4.static.flickr.com/3158/2822597100_38c47102af_o.jpg

Nice diagrid.

But...
One day, sooner rather than later, the NYC skyline is gonna flatline--enjoy it while you can. Expecially with flattops like this ineptitude of spatial imagination are continiously being built around the ESB.

Now...
http://blog.evidenceinmotion.com/photos/uncategorized/2008/03/24/ekg.jpg

Then...
http://webpages.charter.net/jsill/Baird%20Bash/images/ekg_flatline%2002.JPG

Seriously, take as many pictures as you can so one day you can show the grandkids.

[scumonkey]

Just build around the subway tube underground where the MTA plans to build the station. If you went down there and saw it in person you'd know that would be imposable.;)
There's a lot more already under there than you might imagine
http://i211.photobucket.com/albums/bb276/scumonkey/gone.jpg

[JSsocal]

From "Hospital Development"
http://www.hdmagazine.co.uk/story.asp?sectioncode=16&storyCode=2048754

Healthcare skyscraper to be built in Manhattan
13 November 2008
By Joanne Makosinski, Editor HD

THE world’s-first permanent international marketplace and education centre for the healthcare supplies industry will dominate the skyline in midtown Manhattan in less than five years, it has been announced.
Plans for the 60-storey, £1 billion World Product Centre (WPC), as it will be known, have recently been agreed following the appointment of Extell Development Company as the build contractor. A joint marketing company has also been formed between owner WPC and GNYHA Ventures, a leading healthcare business services company owned by the Greater New York Hospital Association.
“We can reveal we are moving steadily forward with this exciting endeavour”, said Israel Green, WPC president and visionary of the centre.
Under the plans, a custom-built 60-storey, 1.5 million sq ft tower will be built on the corner of 33rd Street and 11th Avenue, serving the commercial and educational needs of healthcare suppliers and providers from across the globe. Featured companies will represent all areas of the global industry, including medical devices, diagnostics, technology, pharmaceuticals and healthcare services.
Current designs include more than 120,000sq ft of education and conference space, including a two-storey, 499-seat, fully-digitalised auditorium. There will also be permanent showrooms, media centres and office space, as well as a ‘consumer health pavilion’, which will be open to the general public and will offer guided tours, interactive forums and a wealth of healthcare information.
“WPC is a direct response to the evolving needs of the healthcare marketplace, which is worth $336m in global sales of medical devices alone”, said Lee Perlman, president of GNYHA Ventures.
“With ever-growing pressures on hospitals, long-term care facilities and other healthcare organisations to cut costs and increase quality, providers wrestle daily with how to stay current with innovation and make well-informed purchasing decisions.
“Among its numerous benefits, WPC solves these challenges. It offers a new, cost-effective and transparent environment for bringing purchasers and sellers together to transact business.”
John Strong, former president and chief executive of purchasing group Consorta, is now president of the marketing arm of the venture. He said: “WPC is the most-unique, exciting and groundbreaking project in my 35 years in the healthcare business. It will offer the industry a dynamic commercial environment for partnership and collaboration as well as resources to enhance education. This is a new concept; there is nothing like it.”
Its chosen location is said to help address a huge gap in accommodation for healthcare companies in New York City.
Gary Barnett, chief executive of Extell Development, said: “New York City is a global capital, accustomed to hosting domestic and international visitors, all of which will be supported by this highly-advantageous site. WPC will provide companies, whether they be from America or around the world, with a unique opportunity to showcase and conduct business in one of the most-important healthcare markets in the world.”

[scumonkey]

...1.5 million sq ft tower will be built on the corner of 33rd Street and 11th Avenue,
Previously:

The tower would rise at 11th Avenue and 34th Street, on a site that is now home to the Copacabana nightclub.

Did they move this tower down a block?:confused:

[Derek2k3]

It's full frontage on 11th Ave. between 33rd and 34th Street.

[JSsocal]

Another article, thanks to NYguy from ssp...
From the New York Times

Defying Slump, Developers Plan 60-Story Hospital Industry Center on West Side

http://graphics8.nytimes.com/images/2008/11/20/nyregion/20product650.jpg

From left, Israel Green; Lee H. Perlman, for the Greater New York Hospital Association; and Gary Barnett, for Extell, a developer.

By ANEMONA HARTOCOLLIS
November 19, 2008

A major hospital trade association, one of New York City’s most aggressive developers and a financier with a personal interest in health care are teaming up in hopes of building a 60-story glass-and-steel tower on the West Side of Manhattan that would function as an international showcase and permanent conference center for the hospital industry.

The partners — the Greater New York Hospital Association, Extell and Israel Green, a deep-pocketed investor little known outside the real estate industry — say the building would open in late 2013 and would serve as an anchor building for the Hudson Yards, more than 50 blocks of riverfront stretching from West 28th Street to West 43rd Street that make up one of the last parcels of underused land in Manhattan. The Bloomberg administration originally wanted to put a $2 billion football stadium for the Jets on the site, but that notion was blocked by the State Legislature.

Real estate projects all over New York City have been stalled or stopped in their tracks because of the shrinking credit market. But the backers of the World Product Centre, as the tower would be called, say that the prospects for their project — estimated to cost $500 million to $1 billion to build — are uniquely auspicious because the health care industry has proven in the past to be countercyclical and recession-proof, since people always get sick.

In interviews on Wednesday, the developers or their representatives said they imagined the building as a permanent exhibition center for hundreds of vendors to the medical industry, from hospital food and furniture suppliers to pharmaceutical companies and makers of X-ray machines and surgical devices. They have assembled a team of salespeople to begin marketing the 10-year leases that would help secure the financing for the building, focusing their attention on some of the country’s largest health care companies, like Cardinal Health Care, a Fortune 20 company with $90 billion in annual revenue.

Situated on the east side of 11th Avenue between 33rd and 34th Streets, where the now-demolished Copacabana nightclub once stood, cater-corner from the Jacob K. Javits Convention Center, the tower would also house the headquarters of the hospital association, now located on West 57th Street.

“From an economic development aspect, it’s more important than ever to do a building like this, because New York City’s future can’t be continued reliance on Wall Street,” said Marc V. Shaw, executive vice president for strategic planning at Extell, the development company, and a former budget director in the Giuliani administration and former chief executive of the Metropolitan Transportation Authority.

The Bloomberg administration has embraced the project as part of its efforts to wean New York City’s economic base away from the financial industry, which has been its mainstay, and as a way to bolster the tourism industry by filling hotel rooms with medical executives during the off-season.

Robert C. Lieber, deputy mayor for economic development, said in an e-mail message on Wednesday, “New York City has all the makings of a major hub of commercial bioscience activity — more than 70 hospitals, top medical research institutions, the most talented work force in the nation — and we see the industry as a prime opportunity to grow and diversify the economy.”

Lee H. Perlman, president of the for-profit venture arm of the Greater New York Hospital Association, said the centralized location would address Congressional concerns that the financial relationship between hospitals and doctors and their suppliers, including drug and medical device companies, has become too cozy and insulated from public scrutiny.

But real estate executives and others said it would be an uphill fight to convince potential financial backers of the project’s potential to succeed in bleak economic times. They noted that the International Toy Center, a similar concept, failed and is now being converted into offices and residences.

One executive who spoke on the condition of anonymity for fear of alienating Extell said he found it hard to believe that enough companies would commit to 10-year leases in the current market to make the project financially viable. “Under normal conditions, Israel Green and Extell could — and did — raise a lot of money,” the executive said. “They are as smart as they come.”

But he said that over the next 12 months, space would become cheaper to lease, and that it might make more sense to lease than to build. “There is nothing getting done or built that’s over $100 million these days, because you simply cannot get the lenders together to fund it,” the executive said. “In fact very little is being done above $75 million. When you’re looking into a crystal ball, a year to a year and a half looks to us like a train wreck just beginning to hit.”

Anna Levin, chairwoman of the Clinton-Hell’s Kitchen Land Use Committee for Community Board 4, said the infrastructure for Hudson Yards could not yet support a 60-story building, and that infrastructure construction — including the extension of the No. 7 subway — was likely to fall behind schedule because of the sagging economy.

“It may not be a stupid idea, but at this point I think it’s kind of an isolated idea, wrapped up in a whole bunch of uncertainties,” Ms. Levin said of the plan for the World Product Centre. “It’s all still a pretty picture, but with no reality behind it yet, and this smells to me like the city is trying to create some reality.”

The World Product Centre was jointly conceived by Mr. Perlman and Mr. Green. Mr. Green and a partner, Joseph Neumann, owned the Salmon Tower, a 59-story office building at 500 Fifth Avenue, at 42nd Street, in the 1980s. Mr. Green said he became interested in health care after his wife was found to have thyroid cancer 10 years ago, and that he had originally hoped to build the World Product Centre near the World Trade Center — hence the word “Centre” in its name — a plan that was dashed by the 2001 terrorist attack.

The developers said that the building would have 1 million square feet of space and 1,800 showrooms, but that a typical company would occupy two or three showrooms. Mr. Perlman said that the backers needed 10-year commitments from about 600 companies to make the financing work, and that they would need to sign up about 200 to start construction.

Mr. Perlman said that several companies had expressed interest, though none had yet signed a lease. “We have 18 months to do it, and that’s our goal,” he said.

Mark Rosenbaum, an executive at Cardinal Health, based in Ohio, said the company, with 2,500 sales representatives, has showrooms in Columbus and San Diego, and often shows clients its products in use at places like the Cleveland Clinic or the Mayo Clinic. “I think it makes sense,” Mr. Rosenbaum said of the World Product Centre. “We are certainly interested in it, and we are very seriously considering what it might mean to us.”

Mr. Shaw said the developers were not asking for government financing at this point, though they might look for tax breaks down the road. He said the building would finance itself through leases that would “replace the conventional bond that’s hard to get right now.”

Besides the showplaces and trade association headquarters, the tower would include a 500-seat auditorium, work spaces for visiting businesspeople, and a training and education center for the hospital industry.

[Zoe]

I just noticed on the website they have the building prospectus pdf that lists the building as topping out at 1,011' (page 3)

[stache]

That's a biggie! :cool:

[STEAMWORKSNYC]

Sounds good ..:D

[NYC4Life]

Another supertall for the West Side :)

[NoyokA]

I hate to be negative but I don't see funding, tenants, and even the 7 line forthcoming. I don't see this happening for another decade.

[Tectonic]

I agree, we're quite lucky to still have a couple projects forthcoming, (8 Spruce, 99 Church etc)

[lp640]

Excavation on the World Product Centre site is scheduled for November, with construction finishing in 2013. WPC will license about one-third of the pavilion space and use the proceeds as collateral on a construction loan. “Marketing and development is–and will continue to be–financed by private equity,” says Michael Resnick, WPC’s executive vice president. “We are confident that we will have the financing in place to obtain a construction loan.

http://blogs.wsj.com/developments/2009/07/01/planned-manhattan-skyscraper-to-help-fix-healthcare/

[Ebola]

I can't wait for this one.

[LeCom]

That's a good location for an exhibition tower - damn close to the convention center. Besides, medical industry is one of the few that remains relatively immune to economy slumps, so this tower is still pretty feasible. Were this a regular office tower of this size, I'd say it's a pipe dream, but this one actually seems pretty practical and buildable, aside from the subway extension issues.

[arcman210]

site excavation was supposed to begin this month... any word on this one?

[Cat235D]

:rolleyes:
site excavation was supposed to begin this month... any word on this one?

[lofter1]

Cat235D: A man of few words.

[meesalikeu]

another dead project? strange this news is coming from nashville, the least of the med market schemes, and not from cleveland or new york reporting. anyway its no surprise, they had no financing and no hopes for any, it was all just developer hype talk. otoh, maybe the rush to be first will help the ny mm along, who sez that centralized tower cant happen eventually? we'll see.



Race to market

As Nashville's Medical Trade Center takes a step forward, a major change to New York's plans appears to have the Big Apple out front [From our print edition featured in Monday's City Paper]

Email (http://www.nashvillepost.com/email-friend.php?id=31274) | Print (http://www.nashvillepost.com/news/2009/12/14/race_to_market#) By Erin Lawley (Erin%20Lawley%20%3celawley@nashvillepost.com%3e)
http://sitemason.nashvillepost.com/files/jB39za/Picture_109.png/main.png
Backers of the New York medical mart are no longer looking to build this Manhattan tower.



12-14-2009 12:07 AM — While the buzz about competition for the planned Nashville Medical Trade Center has focused on Cleveland’s competing project, backers of New York City’s World Product Centre have quietly adapted their strategy and appear poised to become the first to open their doors.
John Strong, president and CEO of World Product Centre, told NashvillePost.com that developers have scrapped their plans to build the proposed 60-story, $1 billion medical mart in Midtown Manhattan in favor of repurposing existing Class A office space there.
The change makes the WPC project leaner — about 300,000 square feet of space housing 300 to 500 companies to start, instead of the 1.5 million square feet for up to 1,800 companies in its original design — and potentially faster.
“The advantages are we can deliver in 18 months and be considerably less expensive for our tenants,” Strong said.
If Strong and developer Extell Construction Corp. secure the new location within the next 60 days, as Strong expects, an 18-month timeline would put a WPC opening far ahead of the 2013 date projected for both the Nashville Medical Trade Center and Cleveland Medical Mart.
And because most parties agree the health care industry likely will only support one medical trade center over the long term, time to market is a crucial component in determining the survivor.
“(Being first) is an important factor,” said Bill Winsor, CEO of NMTC developer Market Center Management in a conference call after announcing the NMTC’s Nashville Convention Center location. “It’s not the only factor, but clearly in terms of receptivity of the project, these manufacturers will probably endorse one center and will probably be in one for an extended period of time.”
Location, location, location
Beyond Strong’s assertion that the WPC will open before 2013, it’s hard to tell how the progress of these projects really stacks up. Each still has multiple hurdles to overcome.
In at least one aspect — location — Nashville seems to have a leg up on the competition because it’s got one on the hook. While the WPC is shopping for its new home, Cleveland Medical Mart developer Merchandise Mart Properties is trying to change its mart’s location and plans as well.
Originally the $425 million development was to utilize Cleveland’s 87-year-old Public Auditorium for meeting space and build the showroom space on nearby privately owned property. However, according to ongoing reporting by the Cleveland Plain Dealer, MMPI said a recent analysis of the auditorium revealed $60 million in necessary renovations — on top of the $32 million it previously estimated — and the showroom site’s owners were unwilling to sell within MMPI’s budget.
MMPI now wants to build a 110-foot-tall modern glass structure on Mall C, a park-like space above the underground convention space it still plans to use, but the change requires the approval of Cleveland officials.
Of course, Market Center Management’s $250 million plans to refurbish the Nashville Convention Center’s underground facilities and cap the building with 12 stories of showrooms also are contingent upon approvals. Metro Council must first approve of the building’s replacement facility, the proposed Music City Center, and give a nod to the building’s new use.
Repeated calls to MMPI spokeswoman Maura Bruton seeking more information on proposed changes to Cleveland’s Medical Mart plan and any impact on its construction timeline were not returned. In an e-mail to the Post, Bruton said only that “We are focusing right now on moving the Cleveland Medical Mart project information forward.”
The money game
Despite its setback on locale, the Cleveland Medical Mart is the only project with a formalized funding strategy already in motion. The project is being paid for through a 20-year, 25-cent sales tax increase instituted in October 2007.
However, The Plain Dealer has reported that the funding plan is one reason tempers are flaring over the project’s delay. In April, the county began paying MMPI $333,333 per month in fees. The development company potentially could collect $4 million before construction begins.
The NMTC and WPC will both pursue private financing, but details on how those deals might be structured are still scant.
Strong, who wouldn’t put a new price tag on the revised WPC, acknowledged that it would have been “very difficult” to get funding for the 60-story design and said this will be a “much easier” venture to finance.
Market Center Management has said the NMTC will be funded through a mix of cash investments and financing from the project’s joint owners — Dallas-based Crow Holdings and real estate investment trust CNL Lifestyle Properties. Various government incentives, such as tax increment financing and property tax abatements, are also expected.
However, the company has said it must hit a pre-leasing goal of about 65 percent to 70 percent in order to move forward on securing capital.
Market Center’s local advisor, David Osborn, said the company is making headway in its pre-leasing discussions, but it hasn’t yet inked any deals. And as far as we can tell, neither has the Cleveland Medical Mart.
Osborn said the NMTC has had “tons of inquiries,” is pursuing a targeted list of tenants and has had “substantive discussions with companies for months.” The WPC appears to be ahead of the game. It has “binding commitments” from 11 companies who will participate in the New York mart, Strong said. Those companies include Cardinal Health, Zimmer Inc., Encompass Group, ACI Medical Bioniche Pharma, Aspen Surgical, CorePharma, Avalign Technologies, Argon Medical Devices, Excelsior Medical and Vesta.
He said the demand for space becoming available prior to 2013 was the biggest reason for the change in plans for the WPC.
“Prospective tenants want to see space that’s more readily available than five years out,” Strong said.


http://www.nashvillepost.com/news/2009/12/14/race_to_market

[Alonzo-ny]

I didn't notice anything in there about the project being dead. They just want to reduce the amount of space for the medical mart and build the rest as office space.

[meesalikeu]

well it sez THAT medmart tower is dead. any other won't be a med mart or much of one and given all that backtracking doublespeak they still dont have any financing --- if its not dead its riding on even thinner fumes.

[Deez]

DEAD
http://www.nypost.com/p/news/business/realestate/commercial/unhealthy_market_kos_health_products_ZQXbYxgU8wqcp jfgk3srJM

[Travis]

:(

I liked this tower.

[londonlawyer]

This tower was lame. As this area develops, maybe Extell will hire de Portzamparc to design a landmark.

[antinimby]

They don't hire Portzamparc to design office towers.

They'd probably hire SOM-NY or Pei Cobb Freed to do a boring box. Then you'd wished you had this tower instead.

[londonlawyer]

Maybe it will be a mixed use tower and not solely an office tower. This area will one day be quite nice.

[antinimby]

It is zoned for commercial, no residential or mix use. Site # 2.


http://farm3.static.flickr.com/2645/3982891508_f9aac4bfae_o.jpg

http://farm4.static.flickr.com/3461/3982891494_aba26978bd_o.jpg

http://farm3.static.flickr.com/2551/3982891526_93fc2f0863_o.jpg

[londonlawyer]

That sucks schlong.

[lofter1]

That is a fairly early map, from when the Hudson Yards redevelopment was in the initial planning stages. Not sure if it's completely correct with what is moving forward.

For example, note that the site on the SW corner of 42nd / Eleventh is shown in brown for "Hotel" -- but that is where the two Silver Towers have now gone up.

Also note that the "Multi-Use Facility / Cammemeyer Yard" at the lower left is shown in magenta for "Entertainment" (from back in the days when the Stadium was in the works) but that plot is now being developed as part of the Related Hudson Yards West with a plan for a mix of Residential / Commercial buildings.

And the "S" shaped parcel at top left (42nd west of Tenth) is shown in green and designated as "Open Space" -- but that is where the cruddy old hotel is now being redeveloped (http://www.wirednewyork.com/forum/showthread.php?p=307260#post307260) (documents recorded with NYC show that the owner made a deal with the City in 2004 to take that parcel out of the Open Space plan (http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2004112202029002) to allow for a new building on the site and instead simply provide an easement for access to the open space).

[Derek2k3]

It's a map that dates from when the area was rezoned 2004/2005. There's no way for it to be completely correctly. It's a best guess by the city of what developers will build based on the new zoning.

[Derek2k3]

DEAD
http://www.nypost.com/p/news/business/realestate/commercial/unhealthy_market_kos_health_products_ZQXbYxgU8wqcp jfgk3srJM

Seems they just used the same info from the Nashville article.

If Extell still plans to develop an office tower here, they don't need to throw out the KPF design. Besides the educational center and health pavilion on the lower floors, this design could easily be adjusted into a typical office building.

I still don't see anything happening here anytime soon.

[BrooklynLove]

This is a very tough sell for a commercial developer. First contingency that is a must to make this attractive is completion of the 7 line extension.

Think back to when Macklowe put up Worldwide Plaza - it took a long time to build a solid tenant base in that building and that was only 8th Ave.

This site is much more viable in the near term for residential development.

[Derek2k3]

The city is projecting these sites to be built out by 2025, so there's not really a rush. After this area, there will be very few sites left in Manhattan to build large office buildings.

[NoyokA]

This is a very tough sell for a commercial developer. First contingency that is a must to make this attractive is completion of the 7 line extension.

Think back to when Macklowe put up Worldwide Plaza - it took a long time to build a solid tenant base in that building and that was only 8th Ave.

This site is much more viable in the near term for residential development.

Macklow didn't build it, William Zeckendorf jr. did.

[BrooklynLove]

Yep, my bad. I always associate Macklowe with this building b/c it crushed him.

[antinimby]

Macklowe wouldn't have ever built anything as nice as One World Wide Plaza. He would have built a glass box and the city would have been deprived of a treasure and landmark.

Thank god for Zeckendorf.

[BrooklynLove]

Your're thanking him for Zeckendorf Towers also?

[antinimby]

We were talking about 1 WWP.

[BrooklynLove]

Okay I got you.

[stewartrama]

you know what, I'm glad that this won't be built for several reasons. 1. i think the design was so out of touch with the context of the surrounding streetscapes, and it was such a massive box, which leads me to my second reason... 2. I think there is absolutely no need for this building, in this neighborhood, and in the city. all in all, this building would have been a wasted oppurtunity, and hopefully something nice will be built here.

[antinimby]

Are you absolutely freakin' serious?

The "context of the surrounding streetscape" is nothing but empty lots, surface parking lots and auto repair shops. This would absolutely be the place to build it.

It may be somewhat boxy but it's got a certain sexiness and style to it and is already better than 99% of the office towers in this city.

Furthermore, the city does need it. Without the medical product industry here, the city just lost out a huge chunk of business and revenue to other cities.

[BrooklynLove]

If anything it would've been a huge step toward expanding commercial midtown west instead of north, which makes so much more sense. The current inertial direction of commercial development in midtown is misguided.

[stewartrama]

Are you absolutely freakin' serious?

The "context of the surrounding streetscape" is nothing but empty lots, surface parking lots and auto repair shops. This would absolutely be the place to build it.

It may be somewhat boxy but it's got a certain sexiness and style to it and is already better than 99% of the office towers in this city.

Furthermore, the city does need it. Without the medical product industry here, the city just lost out a huge chunk of business and revenue to other cities.

The "context of the surrounding streetscape" is definately not just empty lots parking lots and auto repair shops. As somebody who knows the neighborhood very well, I can tell you that there is a lot more than that going on. On 27th between 10th and 11th, the street is lined by restaurants and clubs. On 24th and 11th, the new anabelle seldorf building has apartments selling for 10 mill. Now maybe this exact location, with the skyrink building, hudson yards, and (now demolished) copa cabana is not the nicest imediate area, it has potential, and to shove a medical building right in the middle of an area with so much going for it would be a waste. The neighborhood is close to midtown, Chelsea, and the river, which has great value, and it should be developed not as the east side was, with all of the hospitals and medical centers.

I agree, that while it's boxy it's better than most towers, however I don't think that validates the fact that it's uninspired and bulky.

[scumonkey]

24th and 27th st's are worlds away from this thing...
I live in the area and would have been able to see this out my windows- such a shame it won't get built-
anti and BL are right- for Manhattan (not an outer borough) the area is practically a blighted wasteland
(with one or two very small exceptions). This was NOT a medical center or Hospital - but rather housing
businesses that deal with the medical profession- big difference!
This would have done the area a world of good.:(

[stewartrama]

hmmm well i disagree, but we do seem to agree that it would have changed the area drastically

[lofter1]

When the thousand footer gets built just to the south this one will fit right in.