Taconic & Nuveen Plan 28-story Office Tower Between Soho & Tribeca

Taconic Partners, the developer behind Essex Crossing, has revealed plans to construct One Grand, a nearly half-million square-foot office tower in Hudson Square. This move signals confidence in Manhattan's commercial market amid its recent challenges. Designed by SHoP Architects, the 28-story tower will offer 430,763 square feet of office space, with the first office floor positioned 100 feet above ground, featuring public school and retail spaces below.

Key Features & Advancements

The project, situated at the corner of Grand and Varick streets, boasts advanced wellness and sustainability features, including a 13,000-square-foot amenities center, 20,000 square feet of outdoor space, and 14-foot ceiling heights. Taconic emphasizes the tower's commitment to creating a modern and environmentally conscious workspace tailored to meet the needs of forward-thinking companies.

Collaboration with Trinity Church & Nuveen Real Estate

The land, currently vacant, is owned by Trinity Church, a major landowner in Lower Manhattan. In 2019, Trinity Church selected Taconic and Nuveen Real Estate as development partners for the site. This partnership underscores the ongoing transformation and revitalization of the Hudson Square area.

Market Positioning & Leasing Strategy

Acknowledging Manhattan's "flight to quality," leasing efforts for One Grand will be spearheaded by a JLL team led by New York president Peter Riguardi. Taconic intends to commence construction once an anchor tenant is secured, adhering to the standard protocol for new developments. The tower's more modest size and comprehensive architectural design provide it with a competitive advantage in the current market environment.

Taconic's Track Record & Ongoing Projects

Taconic Partners, renowned for its expertise in commercial and residential real estate, is concurrently developing the Hudson Research Center on West 54th Street and three apartment buildings. Additionally, the company's Essex Crossing project on the Lower East Side has garnered widespread acclaim as one of the city's premier mixed-use developments.