Southbridge Towers Story Southbridge Towers, completed in 1971 on a site consisting of 331, 577 square feet in Master Block #94 in the Borough of Manhattan, is a cooperative containing 1, 651 dwelling units in one of the choicest New York City locations, adjoining the Civic and Financial Districts. It is part of the New York State Mitchell-Lama affordable housing program, which was instrumental in bringing middle-income residents to the downtown area. The development is divided into studios, 1, 2, and 3-bedroom apartments in five six-story buildings and four 27-story high risers. With plans and specifications designed by Gruzen & Partners ( architects, planners, engineers ), it was originally constructed and sponsored by Tishman Realty and Construction Company at a cost of $29 million dollars a project which took over 10 years to complete - and thereafter was first managed by Sulzberger-Rolfe, Inc Southbridge is now managed by PRC Management Company. A glimpse into the history of Southbridge would not be complete without recalling Lower Manhattan's illustrious past. In the 17th century, this area was called Nieuw Amsterdam, founded by the Dutch settlers in 1626. Bowling Green, at the foot of Broadway, was soon thereafter established as the City's first public park. In the 18th century, the area became a financial and government center, gradually losing its residential base over time, until artists began to expand downtown from the neighboring SoHo community in the mid 20th century. Some of the City's oldest surviving buildings are located in Lower Manhattan, such as the Fraunces Tavern restaurant and museum ( where George Washington bid farewell to his troops in 1783, a site which then served as offices for the Departments of State, Treasury and War ), Federal Hall National Memorial ( built in the 19th century at 26 Wall Street on the site where Washington was inaugurated as the country's first President in 1789 ), and St. Paul's Chapel ( at Broadway and Vesey Street ) which is the only colonial church still standing. Even the street names remind us of our history, as Southbridge is bordered by Fulton Street ( renamed in memory of the great steamboat engineer/inventor, after having been called "Fair Street" east of Broadway ), Gold Street ( previously called, "the Golden Hill" ), Pearl Street ( previously known as "The King's Road" and "Magazine Street" ) and Frankfort Street, which was a boundary for the Jacob Leiser estate. Parenthetically, Jacob Leiser ( 1640-1691 ), a native of Frankfurt, became one of 17th century New York's most prominent merchants and land developers, then led a 1689 rebellion and was ultimately executed for treason after assuming the role of King William III's governor of New York, hosting English-America's first intercolonial congress, and organizing the first intercolonial military action independent of British authority. He was a forerunner in the country's battle for self-determination. Other neighboring street names reflect the landscape of the area: Water Street ( the first street laid out in the bed of the East River ), Front Street ( laid out beyond Water Street, and fronting the East River ), South Street ( the southerly line of the East River shore, as finally established ), William Street ( known at different periods as "The Glassmakers' Street" before named in compliment to William of Nassau ) and Nassau Street ( formerly known as "The Piewoman's Street" before receiving its appellation again in deference to William of Nassau ). Venturing a bit further, we have Maiden Lane, the original "Maiden's Path, " a rural valley road ; Wall Street, lining the city wall ; Washington Street, laid out while our national hero occupied the nation's highest office ; Stone Street, the first street paved with stone ; and Broad Street, laid out although a ditch in the center occasioned the unusual width, hence requiring Bridge Street which, in Dutch times, led to the bridge across