Citi Opens Public Plaza in NYC's TriBeCa Neighborhood as Part of Renovation of Global Headquarters - Citigroup (NYSE:C)

Citi today officially opened a rebuilt public plaza located in front of its global headquarters building in New York City's TriBeCa neighborhood. The plaza has been fully redesigned and renovated to include new walkways, several seating areas and enhanced landscaping. Citi CEO Michael Corbat, New York City Deputy Mayor Alicia Glen, New York State Assemblymember Deborah J. Glick and Community Board 1 Chair Anthony Notaro attended the event along with Citi colleagues, local business leaders and members of the community.

"We are extremely proud to open the plaza and encourage all Citi colleagues, neighbors and visitors to use it as way to experience the beauty of TriBeCa," said Michael Corbat, CEO of Citi. "It is an exciting new addition to our neighborhood and one that is available for everyone to enjoy."

The refurbishment of the plaza and surrounding public spaces is part of Citi's ongoing renovation of its global headquarters located at 388 Greenwich Street, underscoring Citi's commitment to lower Manhattan.

The plaza upgrades include a 3,500 square foot open lawn, a water installation – and more than 8,500 square feet of new plantings, including 28 trees. Citi also improved the infrastructure in and around the plaza including new sidewalks, streetscaping, and upgraded utilities.

"As partners in the Mayor's Carbon Challenge, Citi has made a real commitment to sustainability in its New York City operations. This building meets and exceeds standards for sustainable design and energy efficiency, showing other major companies what's possible. Along with investments in its public plaza and nearby Hudson River Park, this project is going to improve quality of life not just for workers, but for families across the neighborhood," said Deputy Mayor for Housing and Economic Development Alicia Glen.

"The City partnership to build a more resilient and sustainable community, with commercial businesses like Citigroup, is a great way to collectively safeguard our planet for future generations," said Assemblymember Deborah J. Glick. "The City's initiative to reduce 80 percent of greenhouse gas emissions by 2050 is a laudable goal and I applaud Citigroup for their participation in helping us achieve this reality. I look forward to having this new addition in my district."

"Manhattan Community Board is pleased to congratulate Citi on the opening of the public plaza and the completion of this amazing renovation. It is a significant investment in lower Manhattan and its impact will be felt for years. Having Citi as a neighbor within what has become a residential neighborhood has become a model for cooperation," said Anthony Notaro, Manhattan Community Board 1 Chair.

The overall Citi headquarters project, which started in 2015, is the largest private sector single-occupancy renovation in New York City history. It includes a floor-by-floor renovation of the Citi-owned buildings at 388 and 390 Greenwich Street that integrates them into a single, modern headquarters.

The building has been designed to foster a more open and collaborative work environment and will also include cutting-edge technology, improved amenities for colleagues, and a state-of-the-art auditorium and executive conference center. Upon completion in 2019, the number of Citi colleagues working in the building will be approximately 12,000 – an increase from roughly 9,000 prior to the renovation.

Citi is seeking LEED Platinum certification to further demonstrate its commitment to environmental sustainability and the well-being of colleagues and neighbors. The renovated headquarters building will include sustainable features such as co-generation, smart lighting, improved air quality and enhanced water conservation. Citi also announced earlier this year that it is joining the NYC Mayor's Carbon Challenge, a citywide leadership initiative to reduce greenhouse gas emissions in many of the largest commercial buildings in New York City by 30 percent in 10 years.

In addition, Citi previously announced a $10 million contribution to the Hudson River Park Trust for the redevelopment of Pier 26 which is located across the street from Citi's headquarters.

For the plaza renovation project which opened today, Citi worked with Tishman Construction Corporation; Tishman Speyer; Skidmore, Owings & Merrill LLP; James Corner Field Operations; CBRE Group, Inc.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171003006024/en/

Market News and Data brought to you by Benzinga APIs