DTCC Connection

Jan 31, 2013 • DTCC Connection

DTCC Accelerates Move to Jersey City

by Philip Ballard

With the temporary closure of DTCC’s headquarters office in lower Manhattan following Superstorm Sandy, DTCC shifted into high gear and accelerated the move to Jersey City. Numerous DTCC employees worked with engineers, architects, contractors, project managers and furniture manufacturers to ensure that the Jersey City Newport facility was ready for occupancy by mid-December -- almost a month ahead of schedule.

DTCC Accelerates Move to Jersey City

DTCC initially took steps to obtain temporary office space in midtown Manhattan following the storm, but with early move-in dates for Jersey City within its grasp, the company abandoned its temporary leasing plans.

Construction of the Jersey City office space began in March 2012. The building is a modern 400,000-square-foot facility with 13 floors including a parking garage.

‘A tall order’

“In hindsight, the decision to accelerate completion was quite a tall order,” said Catherine Bellini, DTCC Director, Corporate Services. “Jersey City as well as the Jersey coast and inland regions were also devastated by Sandy. Initially, there was no electrical power to the area and the site operated on an emergency generator. In the days immediately after the storm, our contractor, Turner Construction, called each of the suppliers and sub-contractors to understand how they were impacted and when they could re-engage.”

“While many of the off-site materials had been safely removed to higher ground, some component systems were destroyed and required replacement,” said Anthony Alizzi, DTCC Managing Director, Corporate Services. “And, when electrical power was finally restored to the building, returning construction workers were faced with gasoline shortages and rationing, adding new obstacles to the accelerated move. But we were able to regain the time lost to the storm and eventually -- through long weekday hours and weekend work -- the team was able to pull ahead.”

Approximately 800 employees moved into the new site in December. The remaining staff are relocating in January and February. @

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