Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.
Over the summer summer, YIMBY partially revealed renderings for the planned 25-story, 115-unit residential building at 565 Broome Street (a.k.a 100 Varick Street), in Hudson Square. The developers have now secured a $320 million construction loan for the project, according to Crain’s, and Cindat (the U.S. branch of Beijing-based China Cinda Asset Management Co.) also acquired a $135 million stake in the project. The development team – SHVO, Bizzi & Partners Development, Halpern Real Estate Ventures, Aronov Development, and Itzhaki Acquisitions – recently acquired the two-story annex at 555 Broome for $9 million, completing the assemblage.
Very early this year, YIMBY brought you renderings of Jeff Greene’s planned 24-story, 62-unit residential development at 100 Vandam Street, in Hudson Square, and now the developer has filed applications for the COOKFOX-designed project. The existing six-story, 55,300 square-foot former factory building will be expanded to 156,629 square feet via a 19-story vertical extension. Of the total square-footage, 2,311 square feet of space will be designated for ground-floor retail. Condos will average a spacious 2,457 square feet each, and a duplex penthouse unit will span the 23rd and 24th floors, according to the Schedule A. The Real Deal was the first to report on the filings.
Back in October, YIMBY brought you schematics of the proposed redevelopment options of 550 Washington Street, in Hudson Square, and now The Villager has renderings of the ULURP plans, which would include 1,596 residential units; 255,000 square feet of retail; and a 353-key hotel. The residential units would be spread across 1,334,100 square feet of space, and 500 of the units will go towards affordable and supportive housing. The project would also include elevated park space. COOKFOX Architects is behind the design. Westbrook Partners and Atlas Capital Group are developing.
A year ago, Lalezarian Properties put a pair of four-story buildings on Charlton Street in Hudson Square on the market for $50 million. No one paid that hefty price, and now principal Kevin Lalezarian has decided to develop the site between Hudson and Greenwich Streets himself.