Acadia Realty Trust



2 Sherman Avenue

ULURP Kicks Off For 23-Story, 335-Unit Mixed-Use Building At 2 Sherman Avenue, Washington Heights

The Uniform Land Use Review Procedure (ULURP) has officially kicked off for the proposed 23-story, 335-unit mixed-use building at 2 Sherman Avenue, in the Fort George section of Washington Heights, located four blocks from stops on either the A or 1 trains. The project, developed by Washington Square Partners and Acadia Realty Trust, will include retail space and a community facility. According to Politico New York, the project will be the first to utilize Mayor Bill de Blasio’s Mandatory Inclusionary Housing program, which requires developers to rent 30 percent of the residential units at below-market rates in exchange for a rezoning. The mayor’s program is expected to be voted on over the next few months. If the program is not established, the developers will go ahead with the city’s current system, which would require 20 percent of the units to be affordable. An existing two-story commercial building must first be demolished.


138 Willoughby Street

Extell Submits Pre-Filings For 57-Story Mixed-Use Tower At 138 Willoughby Street, DoBro

Over the summer, Extell Development struck a deal to lease City Point’s phase three development site, located on the northern end of the block at 138 Willoughby Street, in Downtown Brooklyn. Yesterday, SLCE Architects pre-filed for Extell’s planned tower, which will rise 57 stories above street level. The documents are not complete, but the initial filing reveals that the project will include both residential and commercial space, as expected. The deal requires the developer to build a four-story, 65,000 square-foot retail base. The tower will rise 692 feet in height, although it’s not clear if that figure includes any structural rooftop elements. The planned residential units should number in the hundreds, and that will be among the details clarified when SLCE completes the new building applications.


138 Willoughby Street

Extell Acquires CityPoint Site At 138 Willoughby Street, Could Be Brooklyn’s Tallest

Last week, Extell Development acquired the last development site of the CityPoint project at 138 Willoughby Street, in Downtown Brooklyn, in a $115.5 million deal. Extell is technically leasing the 21,500 square-foot site, and the developer is planning to construct a 665,000 square-foot mixed-use tower. A four-story, 65,000 square-foot retail base is part of the deal, and Washington Square Partners and Acadia Realty Trust will own that portion.


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