BLDG Management Company has landed a $254 million construction loan for their planned mixed-use project spanning 212-222 East 44th Street, in Midtown East, per Commercial Observer. YIMBY reported on the project’s design competition earlier in 2015, and a 42-story, 429-unit building is planned, with 87 apartments to be set aside as lottery-allocated housing. On the ground floor, 7,160 square feet of retail space is planned.
Handel Architects is the design architect, while SLCE Architects is serving as the architect of record. Completion is currently expected in 2017, and the existing 11- and seven-story buildings are now being demolished.
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