PNC Bank has provided $154 million in financing to Heatherwood Communities to construct their planned 58-story, 477-unit residential tower now under construction at 42-12 28th Street, in Long Island City. YIMBY first revealed the project in April 2014, and construction was underway in January. Dubbed 28 on 28th, completion is expected in 2017.
Hotel developers are piling into manufacturing zones from the South Bronx to Bushwick, but the de Blasio administration is considering a ban on hotel development in these areas, particularly in protected industrial business zones (IBZs).
Commercial Observer has the reveal of The Daten Group’s seven-story, 46-unit luxury rental building planned for the vacant lot at 600 Harrison Street, in Hoboken, New Jersey. First Niagara Bank has provided $15 million on construction funding to the developer. Nastasi Architects is designing, and construction appears imminent.
According to Brownstoner, Renaissance Realty Group’s two-story, 34,480 square-foot retail building has topped out at 252-260 Atlantic Avenue, in Boerum Hill. Dubbed Atlantic Galleria, TD Bank, Blink Fitness and Michaels have already signed leases, and opening is expected later this year. SBLM Architects is designing the project.
SO Development Enterprises has filed applications for a three-story, 53-foot-tall manufacturing warehouse at the vacant parcel 2702 West 15th Street, on Coney Island near the Coney Island Creek. The building will measure 23,810 square feet, and Walter Marin of Marin Architects PC is designing. Filings were also submitted in January, but the latest plans have increased the scope of the project by 4,700 square feet.