A rendering has been revealed for 5055 Broadway, an 11-story residential building in Inwood, Manhattan. Designed by Fischer + Makooi Architects and developed by Timber Equities, the 43,000-square-foot structure will yield 42,000 square feet of residential space and amenities as well as ground-floor retail. The property is located between West 215th and 216th Streets, a short walk from Isham and Inwood Hill Parks. The amenity spaces will include a lounge, a fitness center, a communal roof deck, a bike room, and tenant storage.
5055 Broadway is the latest project to debut within a 59-block rezoned stretch of Inwood approved by New York City Council this summer. Known as the Inwood Rezoning Plan, the initiative aims to create more than 4,000 units of affordable housing by 2032. To meet that goal, the rezoning allows developers to construct taller buildings with more units, a portion of which must be permanently affordable housing.
To comply with the new zoning text, 25 percent of the apartments at 5055 Broadway will be deeply affordable. This translates to 60 percent of area median income (AMI), on average. The project site is currently occupied by a surface level parking lot.
The rendering depicts a modern design with a mix of materials. The ground-floor retail area is clad predominantly in floor-to-ceiling glass, above which the façade is composed of black brick. A stepped transition beginning at the seventh floor separates an upper section clad in glass. The most distinctive feature is the three two-story sections of balconies highlighted by light gold-colored metallic trim.
“We are proud to have a direct and meaningful role in the city’s affordable housing solution,” said Jeff Torkin, principal at Timber Equities. “We also expect to participate in the Affordable New York (421a) program, which is critical to the development of new affordable rental buildings in New York City. Without it, this site, like so many others around the city, would remain undeveloped.”