Retail

144 First Street Reaches 12-Story Pinnacle in Jersey City, New Jersey

Construction has topped out on 144 First Street, a 12-story residential building in Jersey City‘s Powerhouse Arts District. Designed by Fogarty Finger Architecture and developed by EPIRE, the 125-foot-tall structure will yield 115,000 square feet with 84 apartments ranging from studios to three-bedroom units, as well as ground-floor retail space for two tenants. WSP is the structural engineer and Molfetta Corporation is the general contractor for the project, which is bound by Provost Street to the east, 1st Street to the south, and 2nd Street to the north. BHI, the U.S division of Israel’s Bank Hapoalim, provided a $36 million construction loan for the project in January.

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241 West 28th Street’s Brick Façade Takes Shape in Chelsea, Manhattan

Façade work is shaping up at 241 West 28th Street, a pair of 22-story residential buildings in Chelsea. Designed by COOKFOX for MAG Partners, Atalaya, Safanad, and Qualitas, the 400,000-square-foot development will yield 480 units with 30 percent reserved for low- and middle-income households, as well as 8,500 square feet of ground-floor retail space. King Contracting Group is in charge of brickwork and Urban Atelier Group is the general contractor for the complex, which is located between Seventh and Eighth Avenues on what used to be an open-air parking lot that MAG Partners acquired in December 2018 under a 99-year ground lease with Edison Properties.

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Renderings of the new mixed-income property at Essex Plaza - Courtesy of Fairstead

Rendering Revealed for Mixed-Use Affordable Housing Development in Newark, New Jersey

Fairstead and LIHC Investment Group have announced plans for a six-story mixed-use development at 127 Orchard Street in Newark, New Jersey. Part of Essex Plaza, a 13-building residential complex, the new structure will replace a surface-level parking lot and yield 365,000 square feet with 241 units. Forty percent of these will be set aside as affordable units for households and individuals at 60 percent area median income (AMI). In practice, that equates an annual income of $64,400 for a four-person household.

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Palace Theatre Completes 30-Foot Lift Within TSX Broadway, at 1568 Broadway in Times Square, Manhattan

Construction on TSX Broadway has reached a significant milestone with the completion of the historic Palace Theatre’s lift to its new position 30 feet above street level within the podium of the 47-story Times Square hotel tower. The engineering challenge was overseen by Urban Foundation and Engineering and used a system of 34 hydraulic jacks to hoist the 14-million-pound venue at a speed of about a quarter of an inch per hour over the span of four months. Work will now commence on PBDW Architects‘ restoration of the theater, whose new elevated position will make way for 100,000 square feet of retail space at the base of the structure.

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