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No city needs it...
even in New York City it does not make economic sense to build towers over 900 feet. The Empire State Building never made a profit and neither did the World Trade Center. The Twin towers would never be built by any company trying to earn a profit. They were built by a government agency and used fees from tolls to keep from going bankrupt. The Port Authority lost millions of dollars every year and were never able to find tenants to fully occupy the World Trade Center.
What are you talking about? There are about a dozen of supertalls in NYC that are newly built or under construction that are built by private developers and are very much profitable. Just take a look at all the supertalls on Park ave.
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any firm attempting to build a skyscraper over 500 feet would have trouble obtaining financing in Jersey City or Newark.
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Again... wtf? Jersey City is building tons of highrises. Just this month they broke ground on 6 towers in the 600-750 foot range: 3 ~700+ foot towers (Journal Squared development) and 3 other ~700 foot towers (URL development) among many other highrises currently under construction.
Oh please...a 1000' tall monstrosity is not "investment" Newark needs and deserves a lot of investment, but a supertall skyscraper is not it.
While Newport had been around for quite a few years, the Goldman building in Jersey City really solidified in potential developers that the area was worth a look. It was a game changer for Jersey City. Newark could use a sexy, headline grabbing development to break the stigma that many at one time held for JC as well.
That is not true. Some people from other offices may be moving to Newark, but not everyone.
As far as a city needing a "super tall" skyscraper...only if there is such a demand for office space that a large skyscraper would be needed. The last thing any city needs is a large building with vacant space.
True, I realized my mistake. They are keeping their offices in the cities they currently have them in, but I heard that they would be keeping future offices in newark. They already have The Prudential Tower built, it isnt finished but it almost is. Then, I saw them constructing something else, so I figured that would be tower 2 as many say it is. They also started Teachers village behind the prudential tower. That is where the supertall was to be located.
What are you talking about? There are about a dozen of supertalls in NYC that are newly built or under construction that are built by private developers and are very much profitable. Just take a look at all the supertalls on Park ave.
Again... wtf? Jersey City is building tons of highrises. Just this month they broke ground on 6 towers in the 600-750 foot range: 3 ~700+ foot towers (Journal Squared development) and 3 other ~700 foot towers (URL development) among many other highrises currently under construction.
And, the SoMA Newark plan introduce by architect Richard Meier, Newark will have one supertall by 2025
No city needs it...
even in New York City it does not make economic sense to build towers over 900 feet. The Empire State Building never made a profit and neither did the World Trade Center. The Twin towers would never be built by any company trying to earn a profit. They were built by a government agency and used fees from tolls to keep from going bankrupt. The Port Authority lost millions of dollars every year and were never able to find tenants to fully occupy the World Trade Center.
any firm attempting to build a skyscraper over 500 feet would have trouble obtaining financing in Jersey City or Newark.
Goldman built the tallest building in New Jersey on the waterfront in Jersey City, thanks to generous tax breaks by the city and promises to hire people from Jersey City....I doubt the city will give a similar deal to anyone now that Goldman never lived up to their promises. The owners of the land a block up from Goldman could not obtain financing to build a 400 foot tower, thus they built a 12 story building office building on the waterfront
Jersey City and Newark may not even need any 500 foot office towers , ket alone anything over 800 ft. It is very costly to build in New Jersey and the taxes keep increasing, so it is not an attractive location for tall office towers unless the city grants them major tax breaks. The New Mayor has decided to give tax abatements for developers in Journal square and they wisely decided to build tall Apartment buildings close to the Path.
The World Trade Center was at 95% occupancy by 1999, which made it marketable to firms like Vornado and SPI. That is considered virtually fully occupied.
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Newark needs and deserves a lot of investment, but a supertall skyscraper is not it.
