Fairstead and LIHC Investment Group have announced plans for a six-story mixed-use development at 127 Orchard Street in Newark, New Jersey. Part of Essex Plaza, a 13-building residential complex, the new structure will replace a surface-level parking lot and yield 365,000 square feet with 241 units. Forty percent of these will be set aside as affordable units for households and individuals at 60 percent area median income (AMI). In practice, that equates an annual income of $64,400 for a four-person household.
Permits have been filed for a seven-story mixed-use building at 114 Erasmus Street in Flatbush, Brooklyn. Located between Rogers and Nostrand Avenues, the lot is one block south of the Church Avenue subway station, serviced by the 2 and 5 trains. Jai Patel of PHG Construction Corp. is listed as the owner behind the applications.
Permits have been filed for a six-story mixed-use building at 91 East 111th Street in East Harlem, Manhattan. Located between Park and Madison Avenues, the lot is one block from the 110th Street subway station, serviced by the 6 train. Reuben Pinner of RYL Group is listed as the owner behind the applications.
Façade work has resumed on 450 Eleventh Avenue, a 51-story Aloft Hotel in Hudson Yards. Designed by DSM Design Group and developed by Marx Development Group, the 642-foot-tall skyscraper will yield 379 guest rooms as well as a business center, a ballroom, and a fourth-floor restaurant and bar with an outdoor terrace overlooking the transforming neighborhood. Atria Builders is the general contractor for the property, which is located at the corner of West 37th Street and Eleventh Avenue, directly across from the Jacob K. Javits Center.
HSBC is the latest company to relocate its core business operations to The Spiral, a 65-story supertall office skyscraper in Midtown West, Manhattan. Located at 66 Hudson Boulevard within the Hudson Yards district and mega-complex, the tower is designed by Bjarke Ingels Group and developed by Tishman Speyer.