Now that the 421-a tax exemption program may return, developers seem to be taking a hard look at affordable neighborhoods in the Bronx. A builder based in Morris Park, in the East Bronx, has filed plans for an eight-story residential project in nearby Westchester Square, a working-class area with a growing immigrant population.
Construction is now 12 stories up on the 62-story, 426-unit mixed-use tower under development at 242 West 53rd Street, in Midtown’s Theater District. The progress on construction, first reported by Curbed NY, can be seen thanks to photos posted to the YIMBY Forums by Tectonic. Building permits indicate the project will eventually encompass 542,276 square feet, rising 674 feet to its main roof, not including the bulkhead. There will be 16,514 square feet of retail space across the ground floors, followed by 426 residential units on the fourth through 59th floors. The apartments, which are confirmed to be rentals, should average 1,024 square feet apiece. Algin Management is the developer and CetraRuddy is the architect. Completion is anticipated for 2018.
Construction has topped out on the 23-story, 120-unit mixed-use building under development at 56 Fulton Street, located on the corner of Cliff Street in the Financial District. Progress on the structure, including façade installation, can be seen thanks to photos posted to the YIMBY Forums. The latest building permits indicate the 128,540-square-foot tower stands 237 feet to its main roof, or 272 feet to the top of its bulkhead. There will be 5,865 square feet of retail space on the ground floor, followed by rental apartments, averaging 797 square feet apiece. Twenty percent of the apartments, or 24 units, will rent at below-market rates through the affordable housing lottery. The Parkland Group and Socius Development Group are the developers. Goldstein, Hill & West Architects is behind the design and completion is expected next year.
The low-slung warehouses and factories along the Greenpoint waterfront are not long for this world. A 40-story tower is replacing an envelope factory between India and Huron Streets, and now an 11-story, mixed-use building will rise on an industrial site two blocks south at 13 Greenpoint Avenue, next to Transmitter Park.
Floral Park, N.Y.-based Metropolitan Homes has filed applications for two two-story, two-family buildings at 745-747 East 215th Street, in the East Bronx’s Williamsbridge section. The buildings will measure 3,825 square feet and 4,388 square feet, respectively. The new structures would be built on either side of an existing, although dilapidated, two-story, two-family townhouse, which will receive its own renovations. Across all three buildings, the residential units should average 1,342 square feet apiece. Shahriar Afshari’s Roslyn, N.Y.-based firm is the applicant of record. The lots on either side of the existing townhouse are vacant.