Feb. 2, 2015 By Christian Murray
The final piece of 5 Pointz came down at the end of last week and Jerry Wolkoff the owner of the property expects to start digging the foundations next week.
Wolkoff said the property will essentially be a hole in the ground for the next four to six months as he starts digging and removing dirt.
“We have to remove about 70,000 yards of fill and your typically truck can only handle 30 to 35 yards,” Wolkoff said.
He said that people won’t see any sort of structure take shape for around six months.
Wolkoff said he felt sad that the graffiti mecca had been demolished. “It is like an old friend that has gone but now we have to start anew.”
He plans to build two towers that contain a total of 1,000 apartment units. One tower will be 47 stories and the other 41 stories.
Wolkoff has agreed to include 210 affordable units as part of the development and to build about 20 artists studios, equating to about 12,000 square feet.
He expects to complete the first building by the end of 2017, with the second one about four months later.
He said that he is working on both structures at the same time.
So this is #5pointz now. Sad that it became this. Greed & gentrification art work. pic.twitter.com/F23XidUJww
— ♔ Jen ღ (@etherealprey) January 29, 2015
This is where 5pointz used to be. pic.twitter.com/cFu0DfSGcK
— Daniel, Son of Jim (@CalitTheCoolest) January 29, 2015
Well there goes my view of the city.
you should have been at its going away party it was so fun if you dont believe youtube it filthy savage secret show
Wolkoff passed up the opportunity to collect warehouse rent for 20 years, and took a huge liability risk allowing people on his property, all for the sake of art. It’s pretty hard to imagine that many other developers would have done the same, even if he is an a******.
This SCUMLORD is a very cynical SOB.