NYC poised for new wave of skyscrapers

August 30, 2010 02:00PM

From left, renderings of 15 Penn Plaza, Beekman Tower and One World Trade Center

The city’s approval last week of the 15 Penn Plaza office tower near the Empire State Building is an indication that New York is poised for one of its biggest waves of skyscraper development in decades, according to the Wall Street Journal. The mixed-use development planned for west of Penn Station would further transform Manhattan’s skyline, as changes are already happening Downtown, with Frank Gehry’s Beekman Tower and One World Trade Center at Ground Zero rising to 36 stories. Some of the plans, such as 15 Penn Plaza, have been opposed, attracting criticism from people wanting to preserve the Empire State Building’s spot in the skyline. But the new projects are being supported by the City Council and other elected officials. Supporters are also pointing out that the city needs to modernize office space to preserve its competition against other global cities like London and Hong Kong. However, most of the projects aren’t going to progress until the economy improves, more financing becomes available and demand for commercial space picks up, the Journal said. [WSJ]