Vanbarton Seeks to Alter Public Space at Whimsical FiDi Building Under Conversion Plan

Why It Matters

Altering the POPS reduces public amenities and sets a precedent for developers reshaping civic spaces to boost private asset values.

Key Takeaways

• Vanbarton proposes removing two iconic metal sculptures.
• Plaza will lose about 24 honey locust trees.
• New design adds benches, planters, and 12 trees.
• Changes require City Planning approval for POPS alteration.
• Project reflects trend of developers reshaping public spaces.

Pulse Analysis

The Financial District’s 77 Water Street plaza is a classic example of a privately owned public space (POPS) created in the 1970s when developers exchanged extra air rights for public amenities. Vanbarton’s latest filing seeks to replace the whimsical Victor Scallo and Rudolph de Harak sculptures with functional seating and a modest tree planting program, reflecting a shift from artistic landmarks to utilitarian design as the building transitions to a 600‑unit residential tower.

City officials have long monitored POPS compliance after a 2017 audit revealed that over half of New York’s 333 such spaces fell short of accessibility and amenity standards. Vanbarton’s plan, which trims roughly two‑dozen mature honey‑locusts, raises concerns about diminishing green cover and eroding the cultural fabric that these spaces historically provided. The required City Planning approval underscores the tension between private development incentives and the city’s obligation to preserve public resources.

If approved, the redesign could boost the building’s marketability by offering residents immediate outdoor seating and a refreshed streetscape, potentially increasing lease premiums. However, community groups may push back, citing loss of iconic art and reduced tree canopy. The case highlights a broader trend where office‑to‑residential conversions prompt developers to re‑evaluate POPS, balancing profitability with civic responsibility in a densely built‑up urban environment.