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