New York City Mayor Eric Adams announced plans to construct a new 82-unit affordable housing property at 258 West 97th Street on Manhattan’s Upper West Side. The project is the direct result of a $1.1 million settlement with illegal hotelier Hank Freid who owned and operated the property for more than a decade.
The affordable housing lottery has launched for 142 Richards Street, a four-story residential building in Red Hook, Brooklyn. Designed by OCV Architects and developed by Cheever Development, the structure yields 17 residences. Available on NYC Housing Connect are six units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $94,115 to $167,570.
Construction has topped out on 55 Suffolk Street, a 30-story residential building on Manhattan’s Lower East Side. Designed by Dattner Architects and developed by Gotham Organization, the 310-foot-tall structure is the taller in the two-building Broome Street Development complex along with the 16-story The Norfolk Senior Housing Building at 64 Norfolk Street to the west. Both buildings will collectively span 387,223 square feet and yield a total of 488 rental units, of which 43 percent will be dedicated to permanently affordable housing. Monadnock Construction, Inc. is the general contractor for the two buildings, which are being built between Suffolk and Norfolk Streets.
EPOCH Senior Living and National Development recently celebrated the grand opening of Waterstone on High Ridge, a residential community for seniors. The property is located at 215 High Ridge Road in Stamford, Connecticut and offers a mix of independent and assisted living residences, homes for residents needing dedicated and memory care, and a collection of health and wellness amenities.
Leasing has begun for 85 Jay Street, a 1.1-million-square-foot residential development in DUMBO, Brooklyn. Designed by Morris Adjmi Architects, the project consists of a pair of 21-story buildings that rise from a multi-level podium with multiple retail spaces. The residential component comprises Front & York, a collection of 408 condominiums from CIM Group and LIVWRK, and Magnolia DUMBO, a slate of 320 rental units from RXR Realty with marketing led by Douglas Elliman Development Marketing Group. New Line Structures is the general contractor for the property, which occupies a full-block parcel bound by Front Street to the north, York Street to the south, Bridge Street to the east, and Jay Street to the west.
