Construction has begun on the new superstructure for 1568 Broadway, a 470-foot-tall hotel in Times Square. Designed by PBDW Architects, Mancini Duffy, and Perkins Eastman and developed by L&L Holding Company, Maefield Development, and Fortress Investment Group, the project involved the partial demolition of the former DoubleTree Suites by Hilton to make way for the new 550,000-square-foot tower, which will be dubbed TSX Broadway. The overhaul also includes the raising of Kirchoff & Rose’s 108-year-old Palace Theater by 30 feet to make room for ground-floor retail space. The site is located at the corner of Seventh Avenue and West 47th Street to the east of the red TKTS stairs, and is slated to cost $2.5 billion.
The historic Tin Building at South Street Seaport will soon be home to the largest construction-grade glass media wall in the world. Designed by ANC, an experiential design company, the wall will enclose more than 1,100 square feet of space surrounding the building’s escalators.
The affordable housing lottery has launched for 2724 Heath Avenue, a seven-story residential building in University Heights, The Bronx. The 51,610-square-foot development was designed by Marin Architects and developed by Stagg Group, and yields 64 units. Available on NYC Housing Connect are 28 units for residents at 120 percent of the area median income (AMI), ranging in eligible income from $56,572 to $154,680.
A recent acquisition of an affordable senior community at 1313 Baltic Avenue in Atlantic City, New Jersey will preserve its affordability for 30 years. Standard Communities, the affordable housing division of Standard Companies, acquired Baltic Plaza Apartments for approximately $38 million.
Façade work is getting closer to completion on 145 West 47th Street, a 48-story RIU Hotel in Times Square. Designed by Berg + Moss Architects and developed by Tribeach Holdings, the 353,000-square-foot edifice is located between Sixth and Seventh Avenues and will yield a total of 630 guest rooms.