Silverstein Properties is now considering developing a two-towered mixed-use project 514 Eleventh Avenue, located on the block between West 40th and 41st streets in Midtown West. The latest plans, which the developer has not committed to at this time, would include a 600,000-square-foot residential condominium tower, followed by a separate one-million-square-foot commercial tower. These plans are consistent with current zoning laws and would not require a rezoning, Crain’s reported. CetraRuddy would be responsible for the design.
Previous plans called for a 106-story, 1,400-unit mixed-use tower. Those plans, which required approval from the city, stalled out during the city’s Uniform Land Use Review Procedure (ULURP). In approved, 30 percent of that tower would have been designated affordable apartments.