Last week, the City Council approved plans for Atlas Capital Group and Westbrook Partners to acquire $100 million worth of air rights from Pier 40, overseen by the Hudson River Park Trust, to develop a 1,586-unit mixed-use complex at 550 Washington Street, in Hudson Square. The project is set to include five towers, the New York Times reported, although their height was not disclosed. Thirty percent of the units, or 475 apartments, will rent at below-market rates through the housing lottery. One of the residential towers will be geared towards “older tenants.” There would also be retail space and a 15,000-square-foot recreation center.
Hudson River Park Trust
New renderings have been revealed of the Hudson River Park Trust’s plans to transform the mostly vacant, 800-foot-long Pier 26, located in the Hudson River off TriBeCa, between North Moore and Hubert streets, into a public park. The $30 million overhaul would include a maritime education center, known as an estuarium, multiple landscaped areas with different kinds of vegetation, walking paths, seating, and playgrounds. The overhaul is getting equal financing from the city, the Lower Manhattan Development Corporation, and Citigroup, through a donation. OLIN Studio, a landscape architecture firm, is designing much of the pier, although Rafael Viñoly’s firm is designing the estuarium building. The plans are not final, although construction is anticipated to begin in roughly a year, Tribeca Citizen reported.
Construction on the first nine piles has been completed for the 2.7-acre park, dubbed Pier55, planned in the Hudson River. The location is near the Meatpacking District off West 13th Street. The pilings mark the end of the first phase of construction, DNAinfo reported. The public park is expected to have grassy hills, vegetation, recreational space with paths and seating, and an amphitheater. The London-based design firm Heatherwick Studio and New York-based Mathews Nielsen Landscape Architects are behind the design. A partnership between The Diller – von Furstenberg Family Foundation and the Hudson River Part Trust is developing the project. The pedestrian bridge connecting the park to Manhattan will be built by the city. Completion is expected in 2019.
In June of 2015, slight changes to Pier55’s design were revealed as the park project was making its way through the approval process. Now, the Hudson River Park Trust has announced that the U.S. Army Corps of Engineers has green-lighted the project, according to Crain’s. The 2.7-acre, 62-foot-tall structure, to be built off the Meatpacking District in the Hudson River, will include grassy hills, recreational event space, and an amphitheater. It will connect to Manhattan via a pedestrian bridge at West 13th Street. The bridge will be funded with federal money, but the park itself is being financed by a non-profit partnership between Barry Diller and Diane von Furstenberg. The duo have already contributed $113 million, and construction is expected to kick off in early May.
Yesterday, the Hudson River Park Trust launched a Request for Proposals (RFP) for the design phase of Pier 40’s much needed repair and renovation, Crain’s reported. The 15-acre sports facility is located in the Hudson River off Hudson Square and serves a key role in Westbrook Partners’ and Atlas Capital Group’s planned mixed-use development at 550 Washington Street, which is currently moving through the city’s Urban Land Use Review Process (ULURP). The developers plan to transfer roughly $100 million worth of air rights off Pier 40, although they will have to wait until the ULURP is finished (which legalizes the sale). The proceeds from the sale would fund Pier 40’s eventual overhaul, which will include a 10-year plan to replace more than half of its 3,500 steel piles. ULURP for the project across the street is expected to wrap up this fall, and, at that point, the Hudson River Park Trust will launch another RFP in search for a team to follow through with the design plans.