Developers have secured $317 million in financing to complete phase one of The Crossings at Brick Church Station in East Orange, New Jersey. Anchored at 533 Main Street, the two-phase development is referred to simply as The Crossings and will comprise around 200,000 square feet of retail and commercial space, 820 mixed-income apartments, public outdoor space, a parking garage for 1,200 vehicles, and additional surface-level parking spaces.
Construction is now underway at 500 Main Street, the site of a 26-story mixed-use tower in New Rochelle. Designed by Niles Bolton Associates and developed by BRP Companies and the Urban Investment Group of Goldman Sachs Asset Management, the downtown project will yield 620,000 square feet with 477 rental apartments, a church, retail space, and a parking garage with electric vehicle charging stations.
The Jersey City Planning Board has a approved a pair of high-rise residential towers along the waterfront edge of Jersey City. Located at 50 and 55 Hudson Street, the towers are the latest residential development from global investment bank Goldman Sachs and are expected to create 1,941 residential units, set atop a large retail component, an amenity deck, and public plazas.
JLL Capital Markets has arranged a $142 million construction loan to finance the completion of Majestic, a 12-story mixed-use building at 540 DeGraw Street in Gowanus, Brooklyn. Designed by Handel Architects and developed by Domain Companies, the Urban Investment Group within Goldman Sachs Asset Management, Vorea Group and Mega Development, the building will yield 18,000 square feet of commercial space and 255 rental units. A total 25 percent of the units will be designated for affordable housing. Future Green Studio is the landscape designer for the property, which is located between Nevins Street and 3rd Avenue.
YIMBY has an exclusive set of new renderings for a 47-story residential skyscraper at 550 Tenth Avenue in Hell’s Kitchen. Designed by Handel Architects and developed by Gotham Organization and Goldman Sachs Asset Management JV, the 430,000-square-foot tower will yield 453 units with 316 at market rate and 137 for moderate and middle incomes, as well as 9,000 square feet of retail space, over 20,000 square feet of amenities, and 26,764 square feet of administrative office space for Covenant House. Demolition is complete and foundations are underway at the site, which is located along Tenth Avenue between West 40th and 41st Streets.