Trinity Church Sets Sights on Boutique Office Development

NEW YORK CITY – Trinity Church Wall Street has set its sights on developing a 260,000-square-foot office building at 561 Greenwich St. in the Hudson Square submarket of Manhattan. Hines will act as the development manager for the 19-story property that COOKFOX Architects designed.

When the office property with ground-floor retail is completed, Norges Bank Investment Management and Hines will have a stake. The ownership structure is tied to linking the property to the Hudson Square Properties joint venture, which includes 345 Hudson Street and 561 Greenwich Street.

A part of the construction is the renovation of the street level that will open up the wall for an open and communal experience for passersby, an initiative to transform Hudson Square from a warehouse district to a live-work-play community, according to COOKFOX architect Rick Cook.

At the street level, the building will repair the street wall to provide a sensitive pedestrian experience that will support the continued transition of Hudson Square from a warehouse district into a thriving residential, commercial and retail community. “The powerful masonry buildings of Hudson Square gave us a palette of materials and tools that helped us craft a building that feels authentic to the neighborhood and expresses a high-performance modern workplace with a connection to community and nature,” he said in a prepared statement.

Hudson Square has seen new development and large lease commitment in recent years that have heightened the activity in the submarket, including Disney’s new development at 4 Hudson Square, Google’s lease at 550 Washington, and Publicis’ renewal and expansion at 375 Hudson, according to Tommy Craig, senior managing director and head of Hines’ Tri-State.