CityRealty Insider > New Developments in the News

New Developments in the News

APRIL 27, 2009

PlaNYC goes a shade greener; Ground zero rebuild re-delayed

Mayor Bloomberg's office has announced a new Greener Building program that will "dramatically improve New York's energy efficiency and reduce energy costs by some three-quarters of a billion dollars a year." The six-point plan, when enacted as part of PlaNYC, aims to reduce the city's energy usage and save consumers money, while simultaneously creating thousands of jobs and significantly reducing New York City's carbon footprint. The new plan consists of reducing carbon emissions, training workers and financing for energy-saving improvements as well as legislation requiring owners of existing buildings over 50,000 square feet to make cost-effective energy efficiency improvements. Energy audits will determine which improvements are necessary.

A marketing study done for the Port Authority of New York and New Jersey has suggested that it might be nearly 30 years until the redevelopment of Ground Zero is complete. A lower market demand for office space has been the main factor in this projection, which estimated that Tower 3 of the planned new buildings wouldn't be fully leased until 2037.

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