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
Brookfield Property Partners CEO Brian Kingston and 300 Vesey Street, at far left (Brookfield)
Brookfield scores $224M refi on Battery Park office tower
Brookfield scores $224M refi on Battery Park office tower
Many people are excited for shoppers to return, but many have switched to e-commerce. (Getty)
Is e-commerce king? Retailers reflect on pandemic changes during earnings calls
Is e-commerce king? Retailers reflect on pandemic changes during earnings calls
Procore CEO Tooey Courtemanche (Linkedin, SEC) 
Procore raises $635M in long-awaited IPO
Procore raises $635M in long-awaited IPO
Brookfield Asset Management’s Bruce Flatt (iStock)
Brookfield posts record FFO in Q1 — but not because of real estate
Brookfield posts record FFO in Q1 — but not because of real estate
60 Guilders' Kevin Chisholm, Brookfield's Brian Kingston and 12 Metrotech. (Brookfield, Chisholm ph: Larry Ford)
Brookfield to sell DoBro office condo for $130M
Brookfield to sell DoBro office condo for $130M
Brookfield Real Estate CEO Brian Kingston and Brookfield Asset Management Bruce Flatt (Brookfield)
Brookfield taking pandemic-hit real estate arm private
Brookfield taking pandemic-hit real estate arm private
Crystal Mall in Waterford, CT; Prizm Outlets in Primm, Nevada; and Louis Joliet Mall in Louis Joliet, Illinois (Facebook, Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
Rock-bottom prices: 11 malls whose valuations have tanked
Rock-bottom prices: 11 malls whose valuations have tanked
Brookfield’s Bankside rendering and CEO Brian Kingston (Brookfield, ArX Solutions)
Brookfield’s $190M loan for Bankside tops February outer-borough list
Brookfield’s $190M loan for Bankside tops February outer-borough list
arrow_forward_ios

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

Loading...