The Landmarks Preservation Commission will again review proposals from Vornado and Rogers Stirk Harbour + Partners to redevelop and expand an existing building in the city’s West Chelsea Historic District.
Construction on the Hilton Grand Vacation Hotel has topped out at 12 East 48th Street. The 31-story project is being designed by Handel Architects and developed by Hidrock Realty. There will be a total of 161 rooms, an outdoor terrace, and ground-floor retail space. The site was part of a $47 million purchase several years ago. A reinforced concrete structure makes up the frame of the building, which will be clad with white metallic panels.
Sunshine Cinema in the Lower East Side will soon be demolished to make room for a nine-story office building. Developers East End Capital and K Property Group have secured some $90 million in financing to fulfill their proposal at 141 East Houston Street. According to Crain’s Business, the development partners obtained a $67 million construction loan from CapitalSource and $19 million of mezzanine financing from Canyon Partners.
The Westchester County Industrial Development Agency (IDA) has announced three mixed-use developments that are expected to create more that 3,000 construction jobs and approximately 1,800 residential units. All together, the properties represent $1.2 billion in private investments and are poised to invigorate the downtown White Plains area.
Extensive rezoning proposals from New York City’s Department of City Planning could spur a dramatic uptick in development along the shores of Gowanus, Brooklyn. Known among city agencies as the “Gowanus Neighborhood Plan,” the initiative is designed to facilitate the construction of residential and commercial properties, to encourage population increase, and to help create new job opportunities for local residents.