The financial industry in the not-so-distant past drove much of the real estate development in New York City but the information technology and media industries are becoming more active players, said Adam B. Frazier, development manager at Boston Properties. On the tech front, Facebook and Google have each announced NYC expansion plans and Twitter opened its first office in the city last fall. Publishing giant Conde Naste, the anchor tenant for 1 World Trade Center accounting for 1.05 million sq ft of space in the tower, will reportedly soon sign on for an additional 133,000 sq ft, according to a New York Post story yesterday.
“The tech and media world is growing tremendously [in NYC] and will continue to do so this year,” said Frazier, one of five panelists who spoke on trends for the A/E/C industries, at the New York chapter of the Society for Marketing Professional Services Principals’ Breakfast meeting held in Midtown earlier today. Frazier noted the Cornell University/Technion-Israel Institute of Technology partnership, which won the bid to build a $2-billion-plus applied sciences campus on Roosevelt Island, as an indication of the city’s commitment to further grow its tech presence in both infrastructure and jobs.