Cornell Realty Management is planning to build a four-story, 35,000 square-foot retail project at 257-263 West 34th Street, in the Garment District, according to Crain’s New York Business. According to The Real Deal, which reported on the assemblage last month, Chetrit Group and Cornell Realty acquired the three-story retail building at 261-263 West 34th Street together last March for an undisclosed amount. 259 West 34th Street was also recently acquired for $20.5 million. Chetrit and Cornell have since cut their partnership and, through a deal, have split their properties into separate ownerships. Cornell’s retail project will be clad in glass and construction is expected to begin sometime this year. A total of three small retail buildings must first be demolished.
Last October, YIMBY brought you news that Anup Misra, head of East & Hudson Real Estate, is developing a six-story, 71-unit mixed-use building at 165 Huguenot Street, in downtown New Rochelle. Now, the Daily Voice has a rendering of the project, dubbed the Print House. The 64,000- square-foot building will feature studio, one-, and two-bedroom rental apartments, measuring between 500 and 975 square feet apiece. There will also be 3,000 square feet of ground-floor retail space. The New Rochelle Industrial Development Agency recently approved a 12-year Payment in Lieu of Taxes (PILOT) structure for the project, which is a tax incentive. An existing two-story commercial building must first be demolished. Construction is expected to begin this spring, with completion scheduled in 2017. Magnusson Architecture & Planning is behind the design.
The New York Botanical Garden has released a Request for Proposals (RFP) for a mixed-use development assemblage at 2856-2870 Webster Avenue and 412 Bedford Park Boulevard, in Bedford Park. According to Curbed NY, the site could accommodate roughly 300 residential units, in addition to a 125-plus-key hotel and at least 12,000 square feet of retail. The site is located right above the Metro-North Railroad’s Botanical Garden station and currently consists of multiple low-rise commercial buildings. Proposal submissions are due on March 1, and the Garden is hoping to choose a developer before April.
YIMBY last brought you news of Three World Trade Center, at 175 Greenwich Street in the Financial Distinct, in August when we revealed the height of the 80-story office tower was reduced to 1,079 feet. Since then, when the concrete core had reached roughly the half-way point, the tower has risen significantly, as seen in photos by Tectonic. The core is now closing in on the neighboring Four World Trade Center, which stands 977 feet in height. Steel work is occurring roughly halfway up the tower, and fireproofing and glass installation is taking place on the lower levels. There will be 150,000 square feet of retail space across five floors in the 2.8-million-square-foot building. Silverstein Properties is developing the tower, Rogers Stirk Harbour + Partners is designing it, and completion is expected in 2018.
Back in August of 2015, news broke that the city was moving forward with plans to develop affordable housing at the Elizabeth Street Garden, located at 211 Elizabeth Street (a.k.a. 21 Spring Street), in NoLIta. Now, Curbed NY reports the Department of Housing Preservation and Development is envisioning a seven-story, 60-to-75-unit residential building with retail space. The building would take up roughly 15,000 square feet on the 20,265 square-foot lot, and the units, which would be geared towards seniors, will average between 800 and 900 square feet apiece. The city plans to launch a Request for Proposals (RFP) in the spring and a developer will hopefully be selected by the end of the year. At that point, the project would require approval via the Uniform Land Use Review Procedure (ULURP). Construction is tentatively expected to begin in 2018 for completion in 2020.