A new supertall tower in New York City is to be built as a joint venture between Chinese and US developers.
The 472 m-high Central Park Tower is being developed by Extell Development and the US subsidiary of Shanghai Municipal Investment (SMI) and is set to become the tallest residential building in the western hemisphere.
The cost of the project is reported to be around US$ 3 billion, with Adrian Smith + Gordon Gill Architecture – architects of both the Burj Khalifa in Dubai and the even taller under-construction Jeddah Tower in Saudi Arabia – responsible for the design.
Slated for completion in 2019, the tower will provide a combination of high-rise residencies and retails units.
Extell CEO Gary Barnett said, “We believe the superb location, views, design and quality of Central Park Tower will make it the most important residential building ever to be built in New York City.”