Last summer, the Daily News reported that the city was dragging its feet on building gas, sewer, and electric lines for the final phases of Nehemiah Spring Creek’s affordable housing development in East New York. Now, wheels are cranking into motion at the city housing agencies. Building applications have been filed for the fourth stage of the project.
Back in February, the first renderings were revealed of the planned 86-story, 245-unit mixed-use tower at 45 Broad Street, in the Financial District. The renderings originated from EB-5 materials, as the development team – Madison Equities, Pizzarotti-IBC, and AMS Acquisitions – is hoping to raise $75 million in financing through the program. Now, another rendering of the CetraRuddy-designed project has surfaced via YIMBY Forums, which depicts the tower when viewed from the north (looking southward down Broad Street). New buildings applications haven’t been filed yet, but the 1,100-foot-tall tower will encompass approximately 298,000 square feet. The first five floors should host 50,000 square feet of commercial space, while the apartments above should come in studio to three-bedroom layouts. There will also be 20,000 square feet of amenities. Groundbreaking is expected later this year, and completion is ambitiously scheduled for 2018.
In January, Kushner Real Estate Group and Mark Built Homes acquired, for $12 million from the borough, the five-acre development site at 33 Green Village Road, in the northern New Jersey community of Madison. Last week, the developers hosted a groundbreaking ceremony for their four-story, 135-unit mixed-use complex, dubbed Madison Place, TapIntoMadison reports. Planned is a 100-unit component called Rose Hall, which will host market-rate rental apartments, and a 35-unit component named Madison Place, which will contain condominiums. Rose Hall will also feature ground-floor commercial space for retail and restaurants, as well as a 3,000-square-foot community center. The site was previously occupied by the long-vacant Green Village Road School, which has since been demolished. Marchetto Higgins Stieve and landscape architecture firm Melillo + Bauer Associates are designing. Completion is expected in 2017. The complex will be located three blocks north of NJ Transit’s Madison station.
The 33-story residential building at 44-26 Purves Street has risen past the 20th floor on its way to its 374-foot-high pinnacle. The luxury rental apartment building is being jointly developed by Brause Realty and the Gotham Organization. Completion is expected in late 2017, when its glass-and-copper design will stand as one of the most distinguished in all of Long Island City.
In 2015, Bonjour Capital acquired the 11,857-square-foot development site at 1988-1996 Second Avenue and 303 East 102nd Street – located between East 102nd and 103rd streets in East Harlem – for roughly $25 million. Now, it has been revealed that the developer is planning a 12- or 13-story, 120,000-square-foot residential building at the site, Crain’s reports. The units will be rental apartments, although the number of them is not currently known. The site can accommodate 71,142 square feet of residential space as-of-right, but the site comes with addition air rights, boosting that figure to roughly 120,000 square feet. Groundbreaking is expected by the end of the year, with completion scheduled for early 2019. All seven of the assembled lots are currently vacant.
