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Providing real estate expertise and advice to guide the redevelopment of New York's most prominent site.
Since its destruction in 2001, the World Trade Center site has been transformed with new development, public facilities and memorial spaces. Six towers with a total area of 1.3million sq m are under construction or completed and a performing arts center is planned to complement the memorial squares and museum.
JLL was selected as Real Estate Advisor in 2004 by the land owners, the Port Authority of New York and New Jersey. Our role has been to help guide the overall revitalisation and redevelopment, providing development, planning and advisory services, undertaking feasibility analysis and oversight, cost estimation, marketing assessments, pro-forma analysis, design review, financing assessment, leasing support and deal structuring support.
One of the world's highest profile and most complex urban development projects, JLL's dedicated team helped the Port Authority navigate the legal and financial complexities and interests to undertake site assembly, secure public private partnership arrangements and negotiate innovative financing structure's which satisfied the multiple stakeholders involved. We also were extensively involved in the successful marketing and leasing of much of the commercial office space.