Morningside Heights

Last month, Savanna paid $96 million for air rights and a piece of the Jewish Theological Seminary at 3080 Broadway, in Morningside Heights between West 122nd and 123rd streets. The developer has since secured $34.6 million to finance the acquisition, Commercial Observer reports. The Seminary will use the funds to renovate its campus, to build a performing arts center, and to build a new dormitory with an expansive library. Tod Williams Billie Tsien Architects will be designing the Seminary’s half of the project. As for Savanna’s piece of the project, a low-rise piece of the Seminary on West 122nd Street will be demolished and replaced by a 250,000-square-foot residential tower, to be designed by Beyer Blinder Belle. No targeted completion dates have been disclosed.

Union Theological Seminary – located at 3041 Broadway, between West 120th and 122nd Street in Morningside Heights – is proposing to co-develop a condominium tower located on the campus’s northern quadrangle. The seminary would sell 350,000 square feet of air rights in the process, which would go towards a slender tower, potentially rising 35 to 40 stories in height. L&M Development Partners would be the developer, and the profits would go towards a needed $100 million renovation of the aging academic buildings, according to the Wall Street Journal.