Silverstein Properties announced on Wednesday that it has secured financing to construct a skyscraper in New York City that will include a Four Seasons hotel and private residences.
Silverstein Properties, New York City, first announced the project in 2008 but it was shelved as the financial crisis hit. Located at 30 Park Place in Tribeca, construction will begin on the 82-story tower this fall with the grand opening set for 2016. Financing for the US$950 million project was provided by The Children’s Investment Fund Management LLP, a British company, through a loan of up to US$660 million to owners Silverstein Properties and CalSTRS.
The property will include the 185-room Four Seasons Hotel and Private Residences New York, Downtown, which will also feature 157 private residences.
“The day it opens, the Four Seasons Hotel New York Downtown will be the top hotel and apartment building in Lower Manhattan,” said Larry Silverstein, president and CEO of Silverstein Properties. “Downtown is fast becoming a vibrant, integrated, mixed-use destination on a scale not seen in New York City since Rockefeller Center in 1939.”
Robert A.M. Stern Architects is the architect for the building and is designing the private residence floor plans and interiors. The hotel will be operated by Four Seasons Hotels and Resorts, Toronto.
The hotel entrance on Barclay Street will lead visitors into three floors of lobbies, lounges, a restaurant, ballrooms, and meeting facilities, as well as a spa, fitness center and pool. A second entrance to the restaurant will be located on Church Street. The public rooms of the hotel will face a through-block, landscaped public plaza framed by a lower annex building that conceals building services and access to below-grade parking.
A separate entrance and lobby at 30 Park Place will serve the private residences, each of which will enjoy full access to all hotel amenities. The residences also will feature 11 ft (3.3 m) ceilings and formal entry foyers leading to living spaces, some with grand bay windows.