BLDG Management Company has secured a $425 million loan to complete a 69-story residential skyscraper in Long Island City, Queens. The development, known as The Orchard, will take shape at 42-02 Orchard Street and debut as the tallest residential building in the neighborhood.
The affordable housing lottery has launched for Atlantic Chestnut Phase 1, a 14-story mixed-use building at 250 Euclid Avenue in East New York, Brooklyn. Designed by Dattner Architects and developed by Phipps Houses, the three-structure complex will yield 1,200 residences when complete. Available on NYC Housing Connect are 341 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $16,938 to $140,080.
The affordable housing lottery has launched for 58 Vanderbilt Avenue, a nine-story mixed-use building also addressed as 205 Park Avenue in Clinton Hill, Brooklyn near the Brooklyn Navy Yards. Designed by J Frankl Associates and developed by Bruchy Lefkowitz, the structure yields 90 residences and 34 parking spaces. Available on NYC Housing Connect are 23 units for residents at 40 to 110 percent of the area median income (AMI), ranging in eligible income from $28,629 to $139,810.
Construction teams have broken ground at 212 West 124th Street, the site of a new affordable housing tower within the Marcus Garvey Village complex in Central Harlem. From developer Carthage Real Estate Advisors and Body Lawson Associates Architects and Planners, the new building is expected to debut next winter.
Exterior work is progressing on 278 Eighth Avenue, a 14-story mixed-use building in Chelsea, Manhattan. Designed by FXCollaborative and developed by Alchemy-ABR Investment Partners and Chelsea 23rd Realty Corporation, an LLC affiliated with JJ Operating, the 175-foot-tall structure will yield 132,700 square feet with 190 rental apartments and multiple levels of retail space. Square Mile Capital and Pacific Western Bank provided $183 million in construction financing for the project, which is being constructed by Leeding Builders Group between West 23rd and West 24th Streets.