Washington Square Partners and Acadia Realty Trust want to build a 23-story apartment building at 4650 Broadway, right next to Fort Tryon Park and the Cloisters in Washington Heights. But first, they need a major upzoning from the city. YIMBY uncovered renderings of what the 500,000-square-foot tower could look like in newly posted zoning documents.
Washington Square Partners
The Uniform Land Use Review Procedure (ULURP) has officially kicked off for the proposed 23-story, 335-unit mixed-use building at 2 Sherman Avenue, in the Fort George section of Washington Heights, located four blocks from stops on either the A or 1 trains. The project, developed by Washington Square Partners and Acadia Realty Trust, will include retail space and a community facility. According to Politico New York, the project will be the first to utilize Mayor Bill de Blasio’s Mandatory Inclusionary Housing program, which requires developers to rent 30 percent of the residential units at below-market rates in exchange for a rezoning. The mayor’s program is expected to be voted on over the next few months. If the program is not established, the developers will go ahead with the city’s current system, which would require 20 percent of the units to be affordable. An existing two-story commercial building must first be demolished.
Over the summer, Extell Development struck a deal to lease City Point’s phase three development site, located on the northern end of the block at 138 Willoughby Street, in Downtown Brooklyn. Yesterday, SLCE Architects pre-filed for Extell’s planned tower, which will rise 57 stories above street level. The documents are not complete, but the initial filing reveals that the project will include both residential and commercial space, as expected. The deal requires the developer to build a four-story, 65,000 square-foot retail base. The tower will rise 692 feet in height, although it’s not clear if that figure includes any structural rooftop elements. The planned residential units should number in the hundreds, and that will be among the details clarified when SLCE completes the new building applications.
Last week, Extell Development acquired the last development site of the CityPoint project at 138 Willoughby Street, in Downtown Brooklyn, in a $115.5 million deal. Extell is technically leasing the 21,500 square-foot site, and the developer is planning to construct a 665,000 square-foot mixed-use tower. A four-story, 65,000 square-foot retail base is part of the deal, and Washington Square Partners and Acadia Realty Trust will own that portion.