“The deal complies with complex Islamic laws that govern lending and borrowing”
Having been denied their Ground Zero victory mosque, the owners of the site have planned to build an Islamic museum there since 2014. This museum, apparently, will be an impressive structure containing apartments, a children’s play room, and the museum itself.
NBC New York reported at the time:
The developer who once proposed a mosque and Muslim community center near ground zero now plans a museum devoted to Islam at the same site.
Sharif El-Gamal said in a statement he wants to build a three-story museum “dedicated to exploring the faith of Islam and its arts and culture.”
He said he commissioned French architect Jean Nouvel to design a 5,000-square-foot museum. The building also would include a sanctuary for prayer services and community programs.
. . . . The five-story building, which was once a Burlington Coat factory, now includes a Muslim prayer space that has been open for three years.
El-Gamal’s statement says daily Islamic prayer services would temporarily move while construction was under way, and then would resume at the museum when it is completed.
While NBC New York didn’t have any details about financing in 2014, the New York Post now has details about both the financing and about the planned structure.
The developer of the failed Ground Zero Mosque has nailed down “Sharia-compliant financing” for a new, luxury condominium tower and Islamic cultural museum on the same site, he and his banking partners said Wednesday.
The $174 million dollar project features a three-story Islamic cultural museum at 51 Park Place and 48 high-end residential condos in a 43-story tower at 45 Park Place in the Financial District.
The “Sharia-compliant” financing means the deal complies with complex Islamic laws that govern lending and borrowing, including a prohibition against accepting interest or fees for loans.
Manhattan developer Sharif El-Gamal’s 2010 plan for a 15-story Islamic cultural center sparked protests from opponents who dubbed it the “Ground Zero Mosque,” although it was four blocks away.
. . . . The project now includes two multi-story penthouses on the top four floors along with a pool, gym and kids’ playroom.
The deal, finalized Tuesday, was funded by the London branch of Malayan Banking Berhad.
The project was designed by Michel Abboud of SOMA Architects, along with Ismael Leyva Architects, and will include a 2,821 square-foot public plaza, green space and a retail shop.
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