The Westchester Industrial Development Agency (IDA) has approved a $9 million financial incentives package for a warehouse-to-residential conversion project at 39 Westmoreland Avenue in White Plains. Led by Florida-based developer Mill Creek Residential Trust, the vacant century-old warehouse will yield 163,000 square feet and debut at Modera White Plains.
Permits have been filed to convert a seven-story industrial structure into a residential building at 191 Edgewater Street in Rosebank, Staten Island. Located between Hylan Boulevard and Front Street, the lot is near the Clifton subway station on the Staten Island Rail. Lee Fong of Best Choice Trading Corp. is listed as the owner behind the applications for what once was a Wrigley chewing gum factory.
Demolition preparations are underway at 335 Eighth Avenue, the site of an upcoming seven-story residential building in Chelsea, Manhattan. Designed by COOKFOX and developed by MAG Partners, the 200,000-square-foot structure will yield 188 residential units with 30 percent dedicated to affordable housing for low- and middle-income residents under the Affordable NY Program, as well as a 23,000-square-foot Lidl grocery store on the ground floor. Titan Industrial SVC Corp is the demolition contractor and Urban Atelier Group is the general contractor for the property, which is located at the corner of Eighth Avenue and West 26th Street within the Penn South affordable housing cooperative, officially known as Mutual Redevelopment Houses.
Excavation is set to begin at 55 Willoughby Street, the site of a 38-story residential tower in Downtown Brooklyn. Designed by Colberg Architecture and developed in a joint venture by Lonicera Partners and Rabina, the structure will yield 295 apartments with 89 units reserved for affordable housing, as well as 3,500 square feet of retail space and more than 12,000 square feet of amenity space for residences. Alba Services is the demolition contractor for the property, which sits on an interior lot between Jay and Lawrence Streets.
KPG Funds has secured a $50 million construction loan to complete The Crosby, a new boutique office building in Soho. Located at 40 Crosby Street, the five-story building will comprise 52,000 square feet of office space and an 18,000-square-foot retail space on the ground floor.
