Growth in Tribeca has been on a tear lately, with two residential skyscrapers under construction on Church Street (56 Leonard and 30 Park Place) and countless other projects scattered throughout the increasingly elite downtown neighborhood, to say nothing of the World Trade Center complex coming into shape just to the south.
Amidst such great upheaval comes a relative modest mid-rise, per a permit filing this morning, at 149 Church Street, which spans the full block face from Chambers to Warren, on the east side of Church. There, HTO Architect has filed a new building permit for a 12-story residential building, to be developed by Cape Advisors.
The permit indicates a total construction floor area of 67,000 square feet, with 47,000 square feet for residential use, and another 4,000 square feet for retail space at the bottom. There will be 24 apartments, and with an average unit size of 2,000 square feet, we’d be shocked if it were anything but condos.
Cape Advisors has done a few high design buildings in the past, including Jean Nouvel’s glimmering 100 Eleventh Avenue on the West Side Highway, and we expect nothing less out of this site. While HTO is listed as the architect, they’re likely to be collaborating with another firm, as was the case with Cape’s One Kenmare Square, where HTO worked with design architect Gluckman Mayner.
A DNAinfo article last month took a negative tone about the project and its effects on renters in the building to be torn down. While it’s always unfortunate when someone has to relocate from a space they’ve rented for many years, it’s worth keeping in mind that the units appear to have been market-rate rentals. The tenant who called herself “priced out” of Tribeca and headed to Bushwick was paying $5,800 a month for an apartment, working out to an annual rent higher than the average New York City household’s income.
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