The state announced yesterday that they have chosen a developer for the former Deutsche Bank building — aka 5 World Trade Center — to build a 900-foot mixed-use tower to include the first residential properties at the trade center with 330 units designated as permanently affordable.

The RFP went to a partnership between Brookfield Properties and Silverstein Properties (along with Omni New York for the affordable housing piece and Dabar Development Partners for the MWBE piece), who together came up with a plan for the 1.56 million gross square feet: 1.2 million for residential space or 1,325 residential rental units – of which 25 percent would be affordable; 190,000 square feet of office space; a 12,000-square-foot community facility space; 55,000 square feet of public amenity space; and 7,000 square feet of retail.. The affordable housing units will be set at 50 percent of the area median income — the equivalent of $52,000 per year for a family of three.

Silverstein developed 3 and 4 WTC, and is currently working on 2 WTC.

The site is just south of Liberty Park, a 33,000-square-foot bordered by Cedar, Washington and Greenwich streets. LMDC purchased the damaged Deutche Bank building in 2004 and completed deconstruction, abatement and excavation in 2011 – work which was funded by a U.S. Department of Housing and Urban Development grant.