Fleet arranges $180.2m financing for 2 Gold Street.Fleet Real Estate Finance Group, a unit of Fleet National Bank, today announced it has arranged $180.2 million in financing to support the construction of 2 Gold Street, a residential apartment building located in lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North . Fleet is the lead source of financing for the development. Rockrose Development Corporation is the developer and co-lenders include Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. , Helaba Bank, HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , Bayerische Landesbank, Euro-Hypo, HSH HSH abbr. Her (or His) Serene Highness Nordbank, and Bank Leumi. The financing will enhance the Liberty Bonds issued by the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Housing Development Corporation. The third Liberty Bonds development financed by Fleet, the Liberty Bonds Program is an $8 billion tax-exempt private activity bond program created for rebuilding portions of New York City affected by the September 11 attacks September 11 attacks Series of airline hijackings and suicide bombings against U.S. targets perpetrated by 19 militants associated with the Islamic extremist group al-Qaeda. . The 51-story building will feature 650, studio, one-, two-, and 3-bedroom units, 21,397 square-feet of retail space, and a 100-car parking garage. Designed by Avinash K. Malhotra Architects and to be constructed by Rockrose, construction for the project is currently underway with the first units expected to be ready for occupancy by spring 2005. The project carries a total development cost of approximately $225 million. "Fleet is pleased to serve as the lead arranger Lead arranger The senior tier of arranger of financing for Rockrose Development Corporation for this exceptional development in lower Manhattan," said Jim Hedden, Executive Vice President, Real Estate Finance Group at Fleet. "2 Gold Street represents our third Liberty Bond project and we hope to continue to play a pivotal role in the future redevelopment of lower Manhattan." "Rockrose is pleased to have financed this project with Fleet and the New York City Housing Development Corporation," Richard A. Brancato, Senior Vice President of Rockrose Development Corporation. "Given the size and complexity of the deal, the experience and knowledge of the players involved proved to be invaluable." "Rebuilding lower Manhattan is essential to the City's future, and Liberty Bonds are helping us transform it into a 24/7 community," said Bill Traylor, HDC's Acting President. "2 Gold Street is key to our overall vision for lower Manhattan." |
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