MOUNT VERNON | 22 South Wall Street | FT | 20 FLOORS
Project: 22 South Wall Street
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As city officials move closer to rezoning a blighted area next to the Mount Vernon West train station, plans for a 20-story mixed-use apartment building are coming into focus.
Macquesten Development of Pelham recently presented drawings to the Mount Vernon architectural review board for 22 S. West Street Tower, a $71 million project that blends low- to medium-income housing, market-rate housing and retail space.
“It’s a very cool glass and concrete structure with insets on both wings,” said Joseph Apicella, Macquesten’s managing director of development. “So as you are heading up and down Metro North, you will have tremendous views of this magnificent building.”
The proposed building fits the city’s plan to transform a scruffy industrial zone into a residential and retail district centered at a mass transit hub. The way to do that, Apicella said, is to attract a critical mass of people.
The company has taken the first step with The Modern, an 11-story, 81-unit building at 13 Mount Vernon Ave. aimed at people with workforce incomes. Rents will range from $1,000 to $2,000.
It is nearing completion and it already has a waiting list for tenants. People could be moving in by the end of the year, Apicella said.
Macquesten’s strategy for 22 S. West Street Tower is to blend workforce rates with market-rate rents. Most of the 205 apartments will go to people who make less than the area’s median household income. The rest will be leased to people with greater incomes, whose higher disposable incomes can support more retail activity. Nearly 5,000 square feet will be set aside for retail use.
Note: This is a 28 floor tower. One, like many, that's under the radar.
Extra Info:
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The tower, located at 1501 Voorhies Avenue, is finally starting to peek over the horizon. It can be seen climbing above the neighborhood from surrounding subway platforms, as well as the Ocean Avenue Footbridge, and rivals the Saint Mark Church bell tower as one of Sheepshead Bay’s most distinguishing features. When the colossus reaches its full 321-foot height, it will be four times higher than most of the surrounding buildings.
The site is on the market, and it comes with plans and a design from Karl Fischer. New building applications filed back in December of 2014 call for a 12-story building with 44 apartments, a substantial retail space, and a small community facility. It would break down into 37,931 square feet of residential space, 4,742 square feet of commercial space, and a 739-square-foot community facility. The current plans would include seven studios, 19 one-bedrooms, and 18 two-bedrooms. There would also be large, shared outdoor terraces on the second and 12th floors.
Just a recap of the pipeline and u/c in terms of major projects for the LES.
1) One Manhattan Square at 80 floors: U/C
2) JDS tower which is slightly over 300m or 1000 ft.
3) 260 S. Street at 66 floors
4) 271-283 S. Street at 60 floors.
The Highline neighbourhood in New York is a developing area with real estate rates that often dwarf that of NYC itself. One new addition to the area will be a boutique residence located at 514 West 24th Street. Standing 10 storeys high, The Fitzroy is set to bring 14 residential units to the neighbourhood at the selling rate of $2,850 per square foot on average.
The parade of development marches on in Downtown Brooklyn with the topping out of another high-rise rental building, 415 Red Hook Lane at the corner of Livingston Street. The tower recently topped out at 244-feet tall to its rooftop bulkhead, and is now installing sections of its composite curtain wall. Quinlan Development Group and Lonicera Partners are the developers of the 21-story building, with Ennead as the architects and CMA as the construction managers. The 108,000-square-foot structure will ultimately boast an exterior made of colorized masonry brick and window-wall glass that the team hopes will result in a playful juxtaposition of forms and reflections. CMA promises that the building’s design will compliment the triangular site it occupies and add to the character of Downtown Brooklyn.
This is good news for the Bronx! Although I don't think the 2016 figures will be anything like 2015. (Citywide)
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The Bronx Dethrones Brooklyn for Most Residential Permits Issued
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The Bronx is up, but the rest are down.
In the first 6 months of 2016 — after the expiration of the state’s 421-a tax break program for developers — The Bronx emerged as the borough with the most residential construction action, according to a report from the New York Building Congress released Thursday.
The Bronx led all boroughs with the number of permitted units, seeing more than 1,900 units authorized to be built under the Department of Buildings, according to the analysis using census data.
Things might be busier in The Bronx, some housing experts believe, because much of the development there is subsidized through the city's department of Housing Preservation and Development and with tools other than the 421-a program, which was launched during the fiscal crisis of the 1970s to encourage new residential construction by offering developers tax breaks.
More than 43 percent of the units that began construction in the first six months of this year under Mayor Bill de Blasio's ambitious affordable housing plan, for instance, were in the Bronx, according to HPD data obtained by DNAinfo New York.
So while many market-rate developments might be on hold, like the big mixed-use waterfront projects in Astoria, for instance, many projects in The Bronx — armed with other city subsides— can still move forward.
Brooklyn came in with the second most units authorized for construction with nearly 1,400, according to the Buildings Congress report. The borough had led the city four years in a row and had a whopping 26,000 permitted units last year.
Next came Queens with 1,200 units, Manhattan with 820 units and Staten Island with 620 units.
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MOUNT VERNON | 22 South Wall Street | FT | 20 FLOORS
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