All workers at 1 Manhattan West to earn living wage

Tenants at proposed Brookfield building will have to pay employees at least $13.30 an hour

New York /
Apr.April 17, 2015 04:10 PM

All of the workers at Brookfield Property Partners’ proposed One Manhattan West, a 2.1 million-square-foot office tower at Hudson Yards, will be making at least $13.30 an hour.

This deal marks the first agreement since Mayor Bill de Blasio signed an executive order last fall mandating a living wage for all workers involved in projects that receive subsidies from the city, the New York Times reported. The order mandates that Brookfield, which applied for tax breaks from the city to, finds tenants who will pay their employees a living wage.

Brookfield signed law firm Skadden, Arps, Slate Meagher & Flom to be its anchor tenant at the building. The law firm signed a 20-year lease for 550,000 square feet, which allowed the developer to kick off construction.

The minimum wage in New York State is $8.75 per hour, according to the newspaper.

“This is really the template for the future,” Alicia Glen, the deputy mayor for housing and economic development, told the newspaper. “This is not just some theoretical debate on a Sunday morning talk show.”

Two other big developments are expected to apply for subsidies this year, Glen added, according to the newspaper. Those developers, too, will have to find tenants who will adhere to the rules.

Brookfield’s chief executive Ric Clark told the newspaper that the developer is “pleased to have worked with the de Blasio administration on this initiative to help support the mayor in achieving his goal.” [NYT] — Claire Moses


Related Articles

arrow_forward_ios
A photo illustration including a rendering of Third at Bankside in Mott Haven (top left), the Cunningham apartment complex in Queens Village (bottom left), and 47-05 Center Boulevard in Long Island City (right) (Google Maps, LoopNet, iStock)
Brookfield’s $438M Bronx deal tops outer-borough loans
Brookfield’s $438M Bronx deal tops outer-borough loans
Brookfield Properties EVP Callie Haines (Brookfield Properties, iStock)
One Manhattan West to run on renewable energy
One Manhattan West to run on renewable energy
Brookfield Properties Jan Sucharda and Apollo Global Management's Marc Rowan (Brookfield Properties, Bankside NYC)
Brookfield scores $438M for Mott Haven megadevelopment
Brookfield scores $438M for Mott Haven megadevelopment
Blackstone buys 49% stake in One Manhattan West at $2.9B valuation
Blackstone buys 49% stake in One Manhattan West at $2.9B valuation
Blackstone buys 49% stake in One Manhattan West at $2.9B valuation
Blackstone's Stephen Schwarzman and 8 Spruce Street (Getty, Wikimedia)
Blackstone close to $930M purchase of Lower Manhattan apartment building
Blackstone close to $930M purchase of Lower Manhattan apartment building
Brookfield Asset Management CEO Bruce Flatt and Blackstone CEO Stephen Schwarzman with One Manhattan West (Getty, Brookfield)
Blackstone closing in on One Manhattan West stake
Blackstone closing in on One Manhattan West stake
 Brookfield Asset Management CEO Bruce Flatt and 395 Ninth Avenue (Brookfield)
Brookfield eyeing One Manhattan West stake sale
Brookfield eyeing One Manhattan West stake sale
Lower Manhattan’s Gehry apartment tower for sale asking $850M
Lower Manhattan’s Gehry apartment tower for sale asking $850M
Lower Manhattan’s Gehry apartment tower for sale asking $850M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...