Piling work is now underway on the two-towered, 310-unit mixed-use complex under development at 76 Eleventh Avenue, located between West 17th and 18th streets in southern Chelsea. The site can be seen thanks to a photo posted to the YIMBY Forums. The project will consists of 25- and 35-story towers, rising 302 and 402 feet above street level, respectively. A common four-story base will feature 181,893 square feet of commercial space. It will include retail and office space, in addition to the residential amenities. The residential units, located in the towers, will be condominiums, averaging 2,258 square feet apiece. HFZ Capital Group is the developer. Bjarke Ingels Group is the design architect and Woods Bagot is the executive architect. Completion is expected in 2019.
The Vorea Group has signed a 99-year ground-lease, worth roughly $350 million, for the 10,000-square-foot development site at 23-20 Jackson Avenue, located on the corner of Pearson Street in the Court Square section of Long Island City. The developer plans to build a mixed-use commercial building measuring between 50,000 square feet and 65,000 square feet, according to the Wall Street Journal. The lower floors will contain 30,000 square feet of retail space while the upper floors will feature offices. The site, currently occupied by a single-story commercial building, can accommodate up to 50,000 square feet of leasable commercial square-footage. Neither demolition permits nor new building applications have been filed. Real Estate Weekly reported on the details of the lease.
Wilfred Realty Corp. has filed applications for an eight-story, 190-unit mixed-use complex at 1880 Bathgate Avenue, in the West Bronx’s Tremont section. The 173,627-square-foot project will include two eight-story components, a western one along Bathgate Avenue and an eastern one along Firefighters Boulevard. There will be 21,820 square feet of retail and 2,460 square feet of community facility space across the ground floors. The residential units above should average 786 square feet apiece, indicative of (likely below-market-rate) rental units. SLCE Architects is the architect of record. The 36,101-square-foot assemblage consists of multiple single- and two-story warehouses. Demolition permits were filed in August. The Tremont station on Metro-North Railroad is three blocks away.
Sun Equity Partners and the Heskel Group have closed on the $27 million purchase of the 23,439-square-foot site at 40-31 82nd Street, located along Ithaca Street and Baxter Avenue in northern Elmhurst. The duo plan to build a seven-story, 160,000-square-foot mixed-use commercial building, The Real Deal reported. Dubbed The Shoppes At 82nd Street, it will feature 45,000 square feet of retail space on the ground and cellar levels, followed by 100,000 square feet of community facility space on the floors above. No new building applications have been filed at this time. An old, vacant movie theater, in addition to multiple single- and two-story commercial structures, must first be demolished. The 82nd Street-Jackson Heights stop on the 7 train is a few steps away.
Filings for new buildings in Flatbush seem to have slowed down over the last few months, probably thanks to confusion about the defunct-but-possibly-not 421-a tax abatement. The tax break propped up market-rate development throughout the central Brooklyn neighborhood, and without it, many builders seem to be delaying construction.