New York’s Mayor’s Office has announced that a $500m renovation and redevelopment project will take place at One and Two UN Plaza, which contains the Manhattan headquarters of the UN Development Corporation (UNDC).
Work on the 83,600 sq m project includes building-wide renovations for the corporation, as well as office space for third-party tenants.
Local architect Spacesmith is working on the project, with Cosentini Associates as MEP engineer, and Turner as construction manager.
Kathy Hochul, the governor of New York state, said: “Projects like this create good-paying jobs, drive economic growth, and reinforce our position as the global capital of commerce and diplomacy.”
The UNDC will issue $380m in bonds to part-fund the project, which will be underwritten by Goldman Sachs and Siebert Williams Shank.
The development, which will create 1,800 jobs, is due to begin in the second quarter of 2025 and aims to complete within two years.
The UN has committed to long-term leases at buildings, which were designed in the 1970s and 1980s by Kevin Roche.
The UN Children’s Fund (UNICEF) has its headquarters at Three UN Plaza and plans to take over the building in 2026.
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