Forest City Enterprises has received $40 million in state tax credits ahead of their planned 35-story, 421-unit mixed-use building at 430 Marin Boulevard, in downtown Jersey City. According to The Jersey Journal, 85 affordable units are being set aside, and the building will feature 10,126 square feet of retail. A second 35-story building is planned next door, and completion of the first is expected in late 2017. The greater development is dubbed Hudson Exchange West, and Perkins Eastman is designing.
Mayer Meisels has filed applications for a fourth residential development this week in Borough Park, this time at 1230 48th Street, right around the corner from the 50th Street subway stop. Plans call for a four-story, four-unit building measuring 6,610 square feet, with an average unit size of roughly 1,650 square feet. Kenneth Thomas is the applicant of record, and a dilapidating three-story, multi-family structure must first be demolished.
Meir Mizrachi has filed applications for a three-story, six-unit residential building at the vacant lot at 717 Sutter Avenue, in central East New York, a few blocks south and west of the Van Siclen stop on the C train. The building will measure 4,350 square feet, which means units will average 725 square feet each. Charles Mallea’s M Architecture is designing.
Tishman Speyer is in the process of acquiring the development site at 550 West 37th Street — on 11th Avenue, between West 36th and 37th streets — in the Hudson Yards district, for $185 million. According to Crain’s Business, the parcel boasts 735,000 square feet of mixed-use building potential, but can be expanded to roughly 1.7 million square feet with the purchase of bonus air rights. The developer also plans a significant tower at 435 10th Avenue, a few blocks to the south.
Stagg Group has filed applications for a 13-story, 61-unit affordable housing development at 2051 Ryer Avenue, in Tremont. The structure will measure 44,860 square feet, and each rental-sized unit will measure an average 735 square feet. Mohammad Badaly’s Badaly Architects is the architect of record, and the existing 3,350 square-foot, two-unit apartment building must first be demolished.