Replies to post #74 on Trinity Place Holdings Inc (TPHS)

[Enterprising Investor]

Developers downsize plans for 42 Trinity Place (1/27/16)

Trinity Place Holdings’ FiDi condo tower receives a haircut and a new name

The developers of a planned super-tall tower at 42 Trinity Place in the Financial District have downsized the condominium – which will rise 500 feet, about half of earlier projections.

Trinity Place Holdings finalized the plans for the former Syms complex, where earlier renderings showed a 1,000-foot tower, although Trinity disputed the accuracy of those plans.

“There were a lot of fun rumors,” said Trinity Place Holdings President and CEO Matthew Messinger.

According to the New York Post, which first reported the news, the project now known as 77 Greenwich Street will span 285,000 square feet with 7,000 square feet of retail. It will also house a 472-seat elementary school, which will occupy the building’s first nine stories. Amenities include a roof deck, bike storage and pet spa.

Current plans call for roughly 85 units, but Messinger, a former Forest City executive, said that number could “bounce around modestly.” The tint of the glass walls on the outside of the building could also change.

He declined to disclose pricing for the project, which has an anticipated completion date of 2019. The Marketing Directors is handling sales.

The LEED-rated building was designed by FX Fowle and Deborah Berke Partners is designing the interiors. [NYP] – E.B. Solomont

http://therealdeal.com/2016/01/27/developers-downsize-plans-for-42-trinity-place/

[Enterprising Investor]

77 Greenwich Street in Lower Manhattan Press Release (Website Version):

[Scroll down to view architectural renderings]

http://www.trinityplaceholdings.com/cms/wp-content/uploads/2016/01/TPH-and-Greenwich-release_01272016_Website-Version.pdf

[Enterprising Investor]

New Elementary School Announced for Lower Manhattan (1/16/16)

New school site to address overcrowding; among many being built throughout the five boroughs

The New York City School Construction Authority (SCA) has reached a framework deal with Trinity Place Holdings Inc., an integrated real estate investment company, for a new elementary school. The site at 77 Greenwich Street will include approximately 476 new elementary school seats to serve School District 2. Design of the school space is expected to be completed by early Summer of 2016, with a school entrance off of Trinity Place.

Working with elected officials and community advocates, the SCA committed to identifying an appropriate location for a new school south of Canal Street, which would fulfill need in the Tribeca/Village sub-district, as outlined in the Fiscal Year 2015-2019 Five Year Capital Plan.

The site for the new school came as a recommendation by community leaders and parents. The school will be included within Trinity Place Holdings Inc.’s new mixed-use development, at the site of the former Syms Clothing Store and the City-landmarked Robert and Anne Dickey House.

“Our strong partnership with local leaders to find and secure additional seats for our City’s students has continued with great success”, said Lorraine Grillo, President and CEO of the New York City School Construction Authority. “I am proud of the tremendous work that we have done to get to the solid framework needed to advance this project. With this framework deal, the developer and SCA will move forward with this exciting project and work as quickly as possible to bring on additional seats to another neighborhood in our five boroughs.”

“Trinity Place Holdings Inc. is proud to be part of bringing a much needed new public school to Lower Manhattan,” stated Matthew Messinger, President & CEO of Trinity Place Holdings Inc. (NYSEMKT: TPHS), owner and developer for the 77 Greenwich Street project. “This part of Manhattan will be completely transformed and enlivened by hundreds of school children, new residents, street retail and the newly created and landscaped Elizabeth Berger Park just south of the school’s front door.”

“This is a victory for parents and children in Lower Manhattan, which has quickly become one of the most attractive places for New Yorkers to live, work and raise their families,” said Council Member Margaret Chin. “As a longtime member of the School Overcrowding Task Force, I am particularly happy that the City is now moving forward with plans for a new school at Trinity Place and Edgar Street that will provide much-needed seats for our growing residential neighborhoods downtown. I thank the School Construction Authority, my fellow elected officials, community leaders and parents for putting our children first by helping us secure another great school for Lower Manhattan.”

“Today is a big step in the community’s long push for a simple idea — school capacity should grow as a neighborhood grows, not after a crisis has hit,” said State Senator Daniel Squadron. “The Trinity Place school will expand upon the great communities that PS/IS 276 Battery Park City, Spruce Street and Peck Slip schools, as well as PS 234 and PS 89, have built. I look forward to continuing to work on solutions to school overcrowding in lower Manhattan through the School Overcrowding Task Force — the work of which has been a big part of these successes — along with my colleagues. I thank the School Construction Authority, Department of Education, Community Board 1, the District 2 CEC, and parent leaders.”

“It’s great to see the School Construction Authority making good on its commitment to add elementary school seats in Lower Manhattan, one of our fastest-growing neighborhoods,” said Manhattan Borough President Gale A. Brewer. “I will continue to work with this administration to alleviate school crowding and add seats in neighborhoods that need them.”

“I am thrilled that there is a commitment to build a new school serving Lower Manhattan,” said Congressman Jerry Nadler. “I have heard from concerned parents about the serious school over-crowding in this rapidly-growing neighborhood for years, and joined with my fellow elected officials, Community Board 1 and many local residents to call for new school seats to alleviate this problem. This announcement is one more step towards improving our children’s educational experience. Thank you to the School Construction Authority, Trinity Place Holdings, and all of the parents and advocates for their work on this critical issue.”
As part of the overall development, Trinity Place Holdings Inc. will be seeking New York City Landmarks Preservation Commission actions for the Robert and Anne Dickey House, which is intended to be used by the elementary school in the development.

This new site is in addition to the existing pipeline of new capacity projects completed or in progress to alleviate existing overcrowding and accommodate future growth.

The School Construction Authority was established by the New York State Legislature in December 1988 to build new public schools and manage the design, construction and renovation of capital projects in New York City. The SCA’s mission is to design and construct safe, attractive and environmentally sound public schools for children throughout New York City. We are dedicated to building and modernizing schools in a responsible, cost-effective manner while achieving the highest standards of excellence in safety, quality and integrity.

http://tribecacitizen.com/2016/01/14/new-elementary-school-announced-for-lower-manhattan/