Google, the Silicon Valley giant, has reportedly announced that it would be buying the 1.7 million sq. ft. St. John’s Terminal campus where it rents office space as a tenant. According to credible sources, the tech behemoth will be buying the whole complex.
The commercial campus, located in Hudson Square, Manhattan, consists of three different buildings: 345 Hudson Street, 315 Hudson Street, as well as the St. John's Terminal, located at 550 Washington Street.
Google has completed its office set up in the two Hudson Street towers. The new terminal building will effectively anchor the entirety of the campus, which is slated to open by the mid of 2023 as the NYC headquarters for the company’s Global Business Organization.
Kathy Hochul, the governor of New York, remarked that Google's announcement is just another sign that the state's economy is recovering and rebuilding. The state government is generating employment, investing in new businesses, uplifting New Yorkers, and authoring its recovery narrative together.
Oxford Properties, the project's primary developer, had purchased the St. John's Terminal property in 2017 as part of a JV with the Canada Pension Plan Investment Board. The design of both existing as well as buildings, which were repurposed to be used as commercial properties, was overseen by COOKFOX Architects.
The complex will be sold for $2.1 billion and will be finished by the first quarter of 2022.
Bill de Blasio, the Mayor of New York City, stated that the unprecedented investment of Google in New York City is a huge step forward for its recovery. Blasio added that the acquisition of St. John's Terminal will guarantee that New York stays a global leader in technology and a desirable destination to live and work.
Construction is also underway at Pier 57, where Google will inhabit about 320,000 square feet of office area as part of its long-term campus footprint in New York City. The property will also have a public dining hall, the city's biggest public rooftop area, art galleries, communal spaces, and educational programming focused on environmental studies, coordinated by the Hudson River Park Trust.