Back in August and December of 2014, YIMBY revealed two different conceptual designs for a planned mixed-use development at 500 Summit Avenue, in the Journal Square section of Jersey City. HAP Investments has recently closed on the acquisition of the site for $26.6 million, despite false reports that the developer purchased the property in 2014, Commercial Observer reported. It was also revealed that CetraRuddy will be responsible for the design, the same firm that produced the conceptual renderings YIMBY released in 2014. Planned is a 42-story, 800-unit tower with 30,000 square feet of retail space. The entire building will encompass 916,955 square feet, and the residential units, which will be rentals, should average 981 square feet apiece. There will be a 100-car parking garage. The 80,000-square-foot site consists of a parking lot and two dilapidated, two-story residential buildings.
Earlier this week, YIMBY brought you a new rendering of the mixed-use supertall tower planned at 45 Broad Street, in the Financial District, but now new building applications have been filed with the Department of Buildings. The 371,634-square-foot tower, which has been marketed as 86 stories, will actually have 64 real floors and will stand 1,115 feet above street level. It will also have 150 residential units, which is significantly less than the previous figure of 245. The apartments should average 1,394 square feet apiece, indicative of condominiums, and units will come in studio to three-bedroom configurations. There will also be 48,077 square feet of office space on the third through eighth floors. The project’s 20,000 square feet of amenities will be located on three sub-cellar levels and the ninth through eleventh floors. Madison Equities, Pizzarotti-IBC, and AMS Acquisitions are the developers, and CetraRuddy is behind the design. Excavation is expected to begin later this year, with completion of the tower scheduled for 2018.
YIMBY last brought you a construction update in December, when foundation work was underway, on the 62-story, 426-unit mixed-use tower planned at 242 West 53rd Street (a.k.a. 239 West 52nd Street), in Midtown between Eighth Avenue and Broadway. Since then, foundation work has largely wrapped up, as seen in photos by Vertical Gotham via the YIMBY Forums, which means construction can now proceed skyward. Residential units in the 542,276-square-foot, 675-foot-tall tower should average 1,024 square feet apiece. There will also be 16,514 square feet of ground floor retail space. Amenities will include a 90-car parking garage, storage space for 247 bikes, a fitness center, a swimming pool, a basketball court, a golf simulator, and a private entertainment area. There will also be outdoor terraces on the second, third, and 61st floors. Algin Management is the developer, while CetraRuddy is behind the design of the exteriors and interiors.
Back in February, the first renderings were revealed of the planned 86-story, 245-unit mixed-use tower at 45 Broad Street, in the Financial District. The renderings originated from EB-5 materials, as the development team – Madison Equities, Pizzarotti-IBC, and AMS Acquisitions – is hoping to raise $75 million in financing through the program. Now, another rendering of the CetraRuddy-designed project has surfaced via YIMBY Forums, which depicts the tower when viewed from the north (looking southward down Broad Street). New buildings applications haven’t been filed yet, but the 1,100-foot-tall tower will encompass approximately 298,000 square feet. The first five floors should host 50,000 square feet of commercial space, while the apartments above should come in studio to three-bedroom layouts. There will also be 20,000 square feet of amenities. Groundbreaking is expected later this year, and completion is ambitiously scheduled for 2018.
In December of 2015, Nathan Berman’s MetroLoft Management purchased the leasehold on the 27-story, 473,000-square-foot office building at 20 Broad Street for $185 million from Vornado Realty Trust, with plans to convert the property into residential units. Now, the developer has filed applications for the project, which call for vertically expanding the building by six stories, or 38,098 square feet, to 33 floors. That would boost the structure’s height from 317 feet to 417 feet. There will be 521 residential units, measuring an average of 795 square feet apiece. The apartments will be rentals, and roughly 200 will be studios, with the rest ranging from one- to three-bedroom configurations.