• Thu. Aug 11th, 2022

Black entrepreneurs led by Peebles Corporation want to build tallest skyscraper in New York history

One World Trade Center may currently be the tallest skyscraper in the Western Hemisphere, but if a team of mostly black entrepreneurs and the lenders have their way, they will lead the charge to eclipse the tower and make more history as the first predominantly African-American team to build a skyscraper in New York City.

Don Peebles (Photo from Peebles Corporation website)

“This project is emblematic of true equity in development,” Peebles told World Architecture. “A symbol for all who visit New York, cementing in brick and mortar that New York is serious about economic inclusion.”

Named “Tower of Affirmation” by Don Peebles, CEO of Peebles Corporation, the team also includes renowned Ghanaian-British architect Sir David Adjaye, who designed the National Museum of African American History and Culture in Washington, DC .; Cheryl McKissack Daniel, President and CEO of the oldest minority / women-owned design and construction company; Exact Capital Group, a New York-based real estate development company; and Steve Witkoff of the real estate development company Witkoff Group.

In addition to this core team, project managers commit to providing at least 35% of contracts to minority and women owned businesses.

Led by Peebles, the team submitted a proposal to develop the project on 1.2 acre land adjacent to the Jacob K. Javits Convention Center in New York City. The proposed tower will be 1,663 feet tall and will include two hotels, an observation deck and ice rink, as well as commercial offices.

The team expects the tower to provide approximately 30,000 jobs to New York residents over the next six years; half of these jobs should be permanent. These jobs are expected to generate $ 5 billion in new tax revenue over the next 30 years.

The proposal received support from real estate developers as well as local black clergy.

Read the full story of Finurah here.

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