In the heart of downtown Brooklyn, just off of Flatbush Avenue and adjacent to the City Point complex, One Willoughby Square, also known as 1WSQ or 420 Albee Square, is now on track to become the tallest Class A office tower in Brooklyn. A $235 million construction loan has now been approved and secured from Otera Capital, a Canadian real estate lending company. JEMB is the developer of the upcoming office project.
Since we last checked up on the Financial District site of 77 Greenwich (aka 42 Trinity Place) last October, excavation has completely wrapped, and foundation work has begun in earnest on the imminently 40-story and 500-foot-tall tower. The project is being designed by FX Collaborative and developed by Trinity Place Holdings.
Construction on the new 26,000 square foot Statue of Liberty Museum, located on the western side of Liberty Island, topped off in December 2017. Already ahead of schedule, it is set to open to the public in May 2019. The $70 million project, designed by FXCollaborative and ESI Design and built by Phelps Construction Group, features a steel structural frame, a new elevated concrete foundation, and a green roof. All of this comes as part of the new design that was revealed in October 2016 by the Statue of Liberty-Ellis Island Foundation and the United States Department of the Interior.
Last month, YIMBY broke the story for a major site to be developed at 115 River Road, in Edgewater, New Jersey. While we initially reported the address at 615 River Road, that was incorrect; however, the developer of 615 River Road has now filed a lawsuit in Federal Court, alleging that a series of “corrupt transactions” led to the Borough’s vote to seize the property by eminent domain back in September, in a secret a bid to transfer the lot to developer Fred Daibes, who is behind 115 River Road.
Back in June, YIMBY reported on progress for the Block 675 Redevelopment, just to the southwest of Related’s Hudson Yards supertalls. The site sits on the corner of 30th Street and 11th Avenue, and there, Douglaston Development and Lalezarian Properties want to use air rights transferred from Chelsea Piers via the Special Hudson River Park District to build over 1,200 apartments. Now, we have some fresh renderings, a clearer look at Tower B, and the latest figures for the still-growing proposal, which consists of two towers being designed by FXFOWLE and Ismael Leyva Architects.