C M Y K Axxx,2018-01-18,ZR,010,Bs-4C,E1

ZR10 THE NEW YORK TIMES, THURSDAY, JANUARY 18, 2018

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Q. AND A. WITH REBNY OUTGOING CHAIRMAN Rob Speyer International builder and developer Outgoing Chairman, Real Estate Board of New York Rob Speyer, president and chief executive (Rebny) officer of Tishman Speyer, reflects on his President and C.E.O., Tishman fifth and final year as chair of the Speyer Real Estate Board of New York (Rebny).

Q: What do you consider your most important Q: Turning to Tishman Speyer, how are your development accomplishments as Rebny chairman? projects in Long Island City going? A: “From an organizational perspective, I am proud to have guided A: “Tishman Speyer is in the midst of transforming six acres of the search that led to the appointment of John Banks as Rebny essentially vacant Long Island City land into a dynamic 24/7 president and the seamless transition from Steven Spinola, who community, which will represent the new way that people are served in that post for three decades. Working together, we thinking about urban life. They want to be able to work, live, significantly increased membership and successfully recruited shop and eat all within authentic, transit-rich neighborhoods. a new generation of industry leaders to the executive commit- “We are currently putting the finishing touches on Jackson tee and board of governors. Park, a trio of rental apartment towers that will feature a park “If I had to pick two key achievements on the policy front, and more than 120,000 square feet of residential amenities. it would have to be the creation of the Affordable New York Across the street, we are just now coming out of the ground Housing Program and the rezoning of Midtown East. Both initia- on The JACX, a creative office and retail campus that is already tives are vital to the city’s economic future, and each required a over 70 percent pre-leased to fashion and tech industry leaders. great deal of perseverance to get across the finish line.” “When all is said and done, we will have produced 1,900 apartments, 1.2 million square feet of office space and more Q: Can you talk a bit more about what it took to get the than 50,000 square feet of shops and restaurants for the Long Affordable New York program adopted? Island City community.” A: “The old 421a housing program was a vital tool for creating affordable housing across the five boroughs, but in the pro- Q: Can you update your other cess of renewing the program, it became clear that a simple development projects? re-authorization would not suffice. We needed to fundamen- A: “We are in active construction on The Wheeler, a 10-story verti- tally re-invent the program to reflect the changing New York cal office campus that will rise above Macy’s historic Downtown City landscape and address the needs of multiple stakeholders. Brooklyn department store. It is a complex project in which we It was not easy, and we certainly faced some setbacks along are integrating new construction into the upper floors of the the way. But we never wavered in our pursuit and kept bring- existing Macy’s building. The finished product will feature enor- ing everyone to the table in search of practical solutions. The mous floorplates, 16-foot ceilings, an acre of outdoor terraces end result is a program that will spur more affordable hous- and roof decks, a dedicated amenity floor and sweeping views ing where it’s needed most, while ensuring that all construction of Lower and New York Harbor. workers are paid a fair wage.” “As a companion to The Wheeler, we are in the design and preconstruction phase at 11 Hoyt, a mixed-use project that will Q: What is the industry’s most pressing challenge today? include 475 condos, a full suite of indoor and outdoor amenities A: “As an industry and a society, we must confront our enor- and more than 40,000 square feet of shops and restaurants for mous infrastructure needs. New York City has experienced the community. phenomenal economic growth — with jobs, residents, tour- “In Manhattan, we are in preconstruction on The Spiral, a ists and commuters all in record territory. In order to accom- 2.85 million square-foot office tower located at the intersec- modate such rapid growth, we need major and sustained tion of the High Line and Hudson Park Boulevard. The tower investment in the infrastructure that underpins our econ- design features a cascading series of landscaped terraces and omy and quality of life. This means mass transit, roads and hanging gardens as its signature element, both functionally bridges, airports, tunnels, schools and parks. At the same and visually. In addition, we have assembled a second prime time, we need to invest in making our infrastructure systems Hudson Yards development site, where we plan to construct a more robust, resilient and connected.” 1.3 million square-foot office tower.”

Fisher Brothers Modernizes Office Properties Fisher Brothers is undertaking an extensive capital improvement program to modernize its office properties. Fisher Brothers part- ner, Ken Fisher, said: “[We are] in the midst of an aggressive asset renewal program to reimagine and modernize our entire port- folio of premier Manhattan office towers. Working with leading designers and architecture firms, we are transforming the aes- thetic of our buildings with updated entrances, more welcoming lobbies and enlivened outdoor spaces. “We have already completed our reinvention plan at two of our Midtown towers. At 605 , we completely over - hauled the lobby with an ideal blend of corporate and cutting- edge design. The centerpiece of the project is the installation of two oversized digital glass windows, which were designed by the Rockwell Group and serve as giant kaleidoscopes visible from the sidewalk as well as inside the building. Our renova - tion at Plaza included the redesign of the building’s 13,000-square-foot public arcade, which now features a light- infused, double-height colonnade; redesigned water feature; and new art displays. Both properties have been well-received by our tenants.” Fisher Brothers partner Winston Fisher said that at 1345 Avenue of the Americas, the company recently completed the first phase of its capital improvement program in the lobby. 1345 is one of a select few office towers that offers sweeping views of , so Fisher Brothers’ goal is to extend the open- ness and light of the Park down the corridor and up through the entrance of the building. To accomplish this, the firm worked to create a much brighter and more spacious lobby. ABOVE: 111 Murray Street, TriBeCa. “We opened and extended the main entrance, and continued the Rendering: Redundant Pixel theme of digital art with our LED feature wall. Our next steps there will be expanding and refreshing the building’s amenities, BELOW: 605 Third Avenue, with a brand new amenity center designed by David Rockwell Murray Hill. Photo: William Taufic and the Rockwell Group. We are redesigning the plaza with a new landscaping program and outdoor seating, which will make the environment more welcoming and communal,” he said. The company is also set to commence its renovations at . Working again with the Rockwell Group, Fisher Brothers is reinventing the building with a sleek design that truly reflects its prestigious address. It plans to upgrade the lobby with a high-end style and a more open feel and transform the entrance to allow natural light to fill the lobby. In addition to its office projects, Fisher Brothers has an exten- sive portfolio of residential properties. Ken Fisher offered this update: “House 39, our new rental building at 225 East 39th Street, opened earlier this year and the response in the mar- ket has been fantastic. It offers a combination of sleek modern design, resort-style amenities and stunning views that are unique to Murray Hill. We have focused on positioning it as a community with great programming for its residents.” Winston Fisher added: “We are nearing completion on con- struction at 111 Murray, a 58-story Tribeca condominium tower that we are co-developing with Witkoff and New Valley. The 800-foot glass tower, which was designed by Kohn Pedersen Fox Associates, has recently taken its place on the new Downtown skyline and will open for occupancy this spring.”