Designed by COOKFOX Architects, St. John’s Terminal is a planned, 1.3 million-square-foot office megadevelopment in Manhattan’s Hudson Square neighborhood that is being built by Oxford Properties, who is partnered with the Canadian Pension Plan Investment Board (CPPIB). As of the second quarter of 2021, it is under construction for search engine giant Google, who leased out the entire property in 2019.
St. John’s Terminal originally served as the southern terminus of the High Line elevated railway. It is located at 550 Washington Street, next to Hudson River Park’s Pier 40. Google’s lease is for the full 1.3 million square feet, and the development will be included as part of the firm’s broader Hudson Square campus.
Oxford Properties partnered with CPPIB in 2018 to buy the south portion of St. John’s Terminal from Westbrook Partners and Atlas Capital Group for $700 million.
A little over two years later, in May 2020, amid the depths of the COVID-19 pandemic, Oxford and CPPIB sealed $972.6 million in construction financing from a syndicate of seven banks — led by Wells Fargo — to start the office development. It was one of the biggest and highest-profile loans that landed during the pandemic.
Oxford topped out the 12-story project two months ahead of schedule in November 2020, and it is expected to be ready for full occupancy in 2022.