The next phase of development at 2856 Webster Avenue, a new affordable housing complex in Bedford Park, The Bronx will introduce a sprawling new grocery store operated by Cherry Valley Marketplace. The retailer has committed to operate under guidelines established New York City’s Food Retail Expansion to Support Heath (FRESH) program, which promotes the establishment and retention of grocery stores that dedicate required selling space to perishable food items within underserved communities.
L&L Holding Company and Columbia Property Trust have successfully closed on $1.25 billion in construction financing to complete a commercial overhaul of Terminal Warehouse in Chelsea, Manhattan. Led by COOKFOX Architects, the property will eventually house a mix of Class A office suites, retail space, and dining area.
Foundation work is progressing on 555 Greenwich Street, a 16-story office building in Hudson Square. Formerly addressed as 561 Greenwich Street, the structure will yield 270,000 square feet and will connect on nearly every floor with the adjacent 345 Hudson Street. The project is designed by COOKFOX Architects and developed by the joint venture Hudson Square Properties, which includes Trinity Church Wall Street, Norges Bank Investment Management, and Hines, and is planned to debut as one of the city’s most sustainable buildings.
Square Mile Capital and Pacific Western Bank are set to provide $183 million in construction financing for a 12-story mixed-use property at 258-278 Eighth Avenue in Chelsea, Manhattan. A new Target retail store will occupy 28,000 square feet of the building’s lower levels. Above these floors, the development will house 190 rental apartments and associated amenities.
The Landmarks Preservation Commission is now reviewing proposals from Skidmore, Owings & Merrill to renovate and restore the historic Lever House at 390 Park Avenue in Midtown East, Manhattan. Scope of work for the proposed alterations includes replacement of non-original plaza paving and bases, the installation of new signage and stainless steel doors, a new entrance into the Casa Lever restaurant on the ground floor, and the replacement of aluminum panelling and glass storefronts at the ground floor. The design team will also restore exterior stone, metal, and ceiling materials around the property.