The State of New York has announced a sixth round of funding for the Empire State Supportive Housing Initiative, an ambitious plan to create or preserve over 100,000 affordable and at least 6,000 supportive housing units. For this round, the state will release $35 million in financing aimed at creating at least 1,400 supportive housing units.
Exterior work is coming to a close on No. 33 Park Row, aka Pearl on the Park, a 23-story residential building in the Civic Center section of the Financial District. Designed by Pritzker Prize-winning architect Sir Richard Rogers and Graham Stirk of Rogers Stirk Harbour + Partners and developed by Centurion Real Estate Partners and Urban Muse, the 331-foot-tall structure spans 95,000 square feet with 30 units, which range from one- to five-bedroom units and penthouses. The building stands on a corner plot on Park Row, the historic locale of New York City’s first skyscrapers such as the New York Tribune Building and the World Building. Compass Development Marketing Group is the exclusive marketing and sales agent for the property, with sales already underway.
Work is nearing completion on One Wall Street, the largest office-to-residential conversion project in New York City’s history. Developed by Macklowe Properties, the 21st century overhaul is expected to cost around $1.5 billion, transforming the 90-year-old, 564-foot-tall Art Deco skyscraper with a multi-story addition designed by SLCE Architects as well as a 44,000-square-foot Whole Foods Market and a Life Time fitness center on the lower levels. The Financial District property will yield 566 new units with sales handled and marketed by Compass.
The Town of Mount Pleasant recently approved a financial incentives package to facilitate the completion of a new residential property at 500 Commerce Street. The project site is located in Hawthorne, New York, a small hamlet associated within Mount Pleasant and the surrounding Westchester County.
YIMBY attended a topping-out celebration yesterday afternoon at Olympia, a 26-story mixed-use residential edifice at 30 Front Street in DUMBO, Brooklyn. Developed by Fortis Property Group and designed by Hill West Architects with Workstead handling interiors, the 401-foot-tall tower is the tallest structure in the neighborhood and will yield 76 condominium units with sales and marketing led by Fredrik Eklund and John Gomes of the Eklund Gomes Team at Douglas Elliman and Karen Heyman at Sotheby’s. Olympia is situated on a relatively narrow triangular plot bound by Front Street to the north, Washington Street to the east, and York Street to the south. Urban Atelier Group is managing construction, Manhattan Concrete is creating the reinforced concrete superstructure, and King Contacting Group is in charge of the CMU work, exterior insulation finish systems, and roofing.
