A giant residential skyscraper is slated to join Manhattan’s skyline— rising more than 130 feet above its neighbor, the Woolworth Building.  Developer Silverstein Properties announced today that $950 million in funding has been secured to move forward with the construction of the Robert A.M. Stern Architects-designed tower at 30 Park Place in Lower Manhattan.

This massive building will climb up to 82-stories—making it the tallest residential tower in Downtown Manhattan according to a recent statement—and will include a 185-room Four Seasons hotel, 157 Four Seasons luxury residences, and a public plaza. Yabu Pushelberg, the design firm behind a slew of W and Four Season Hotels, will design the interiors for this project.

Silverstein Properties anticipates that the they will break ground by Fall 2013 and complete the 926-feet tower by 2016.