Centaur Properties and Greyscale Development Group have acquired $115 million in construction funding to develop an 11-story, two-building residential and retail property with 36 units at 527 West 27th Street, in West Chelsea, per The Real Deal. YIMBY revealed diagrams in January, and Isay Weinfeld is designing the project, which is dubbed Jardim. Excavation has kicked-off, and completion is slated for the fall of 2016.
In March, YIMBY revealed plans for an 88-unit condominium development at 21-21 44th Drive, in Long Island City, but Crain’s Business is reporting a change of plans. Norvin Healthcare Properties recently acquired the development site for $66 million, and now a two-story, 45,000 square-foot ambulatory care facility is in the works. NYU Langone Medical Center has agreed on a 31-year lease with Norvin, and an existing two-story building must first be demolished.
The six-story, 53-unit supportive housing development at 437 Herkimer Street, in southern Bedford-Stuyvesant, is wrapping up construction and expected to open this summer, DNAinfo reports. The affordable housing group The Bridge will service the complex, and the building will feature solar panels on the roof and a wide range of amenities for its tenants.
Curbed has the latest renderings for the seven-story, 62-unit residential building — dubbed The Grove — currently under construction at 30-40 21st Street, in western Astoria. The project is being developed by Tsilo Group and designed by TKA Studio. Construction began in late 2013, and opening is projected for this upcoming fall.
The Real Deal reports Taconic Investment Partners has landed $200 million in construction loans for their 24-story, 392-unit mixed-use project at 525 West 52nd Street, in Hell’s Kitchen. YIMBY brought you news of the project almost exactly a year ago, and Handel is designing. Seventy-nine residential units are expected to be set aside as affordable, and the site’s former five-story structure was demolished in 2014.
