Last week, the City Council approved plans for Atlas Capital Group and Westbrook Partners to acquire $100 million worth of air rights from Pier 40, overseen by the Hudson River Park Trust, to develop a 1,586-unit mixed-use complex at 550 Washington Street, in Hudson Square. The project is set to include five towers, the New York Times reported, although their height was not disclosed. Thirty percent of the units, or 475 apartments, will rent at below-market rates through the housing lottery. One of the residential towers will be geared towards “older tenants.” There would also be retail space and a 15,000-square-foot recreation center.
The Durst Organization has acquired, for $173.5 million, the high-profile mixed-use development site at 29-37 41st Avenue, in Long Island City’s Court Square section. The new owner plans to build a tower with 1,000 rental apartments, rising as tall as 914 feet above street level, the New York Times reported. It’s expected that 25 percent, or 250 units, will rent at below-market rates through the housing lottery, Real Estate Weekly reported. The project would also include the creation of a half-acre public park. The sale included the vacant 14-story, 49,300-square-foot commercial building at 27-29 Queens Plaza North, an individual landmark, which was expected to receive a renovation by the same previous developers.
A rendering of the base has been revealed, along with new details, of the 1,100-unit mixed-use development proposed at 321 East 96th Street, located in East Harlem near the border of the Upper East Side. The latest plans call for a 1.3-million-square-foot complex featuring a 68-story tower, DNAinfo reported. It includes a total 270,000 square feet of space for three academic facilities: the School of Cooperative Technical Education (COOP Tech), a vocational trade school currently located on-site in a four-story building, and Heritage School and Park East High School, two public high schools with existing facilities nearby.
A groundbreaking ceremony has been held for Larkin Plaza, the two-towered, 439-unit mixed-use development planned at 22 Nepperhan Street in downtown Yonkers. The rental complex will consist of a 25-story, 280-unit building on the corner of Nepperhan Street and Warburton Avenue, as well as a 17-story, 159-unit structure fronting Main Street. A two-story commercial building, with 35,000 square feet of retail space, will also front a long stretch of Nepperhan Street, Westfair reported. A three-story, 539-car parking garage is also planned. RXR Realty is the developer. Foundation work is imminent, with completion anticipated for 2018.
A rendering has been revealed of the two-story, 30,000-square-foot commercial redevelopment in the works at 210 West 31st Street, located across the street from Madison Square Garden in Chelsea. KBS Capital, which is affiliated with California-based KBS Strategic Opportunity REIT II, and Onyx Equities are developing the project. It will include two floors of restaurant and retail space, in addition to a roof deck, Real Estate Weekly reported. The redevelopment consists of the West 31st Street section of the Church of St. John the Baptist, which Onyx is ground-leasing from the congregation. Demolition of that 23,110-square-foot section is anticipated in 2017, with completion of the new building in 2018.