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  #1  
Old Posted Feb 13, 2013, 10:31 PM
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A slice of the long delayed Con Ed development on the east side coming back to life.


http://ny.curbed.com/archives/2013/0...ue_mud_pit.php

800-Unit Apartment Complex To Rise In First Avenue Mud Pit





February 13, 2013, by Jessica Dailey


Quote:
For years, developer Sheldon Solow owned a 9.2-acre mud pit on First Avenue between 35th and 36th Streets, where he had planned to build two apartment towers. Last year, Solow finally sold the property, a former ConEd site, to JDS Development. Crain's reports that deal recently closed for $172 million, and JDS managing partner Michael Stern said that he'll be moving forward with Solow's previously approved plans. For those that don't remember, this means two big buildings: a 37-story tower and a 47-story tower that will hold a total of 800 apartments.

Most of the units will be rentals, but Stern may plop some condos at the top. An architect will be chosen within the next couple of weeks, and construction should start this summer. The project is fully financed and ready to go, since all approvals were obtained years ago by Solow. The only design detail revealed in the Crain's story is that there will be more than an acre of green space at the base, and Stern is working with the EDC to ensure a connection to the riverfront. The FDR Drive separates the site from the water, so this could mean a pedestrian bridge or deck would be built. In the meantime, we will be not-so-patiently awaiting the renderings.


http://www.crainsnewyork.com/article...TATE/130219963

$172M sale of prime East River site closes
Developer JDS Development Group expects to begin construction of two towers with 800 apartments this summer, with completion scheduled for 2016.


updated February 13, 2013


Quote:
One of New York City's busiest developers has officially added another high-profile development project to his growing portfolio. Last week, 33-year-old Michael Stern, managing partner of JDS Development Group, closed on the acquisition of a two-acre parcel that was owned by Sheldon Solow on the former Con Edison site along the East River in Kips Bay. JDS paid Solow Building Company $172 million.

"What's so appealing about this is that the property has everything you'd want in New York," Mr. Stern said. "It's got river views, city skyline views and sort-of open-space park views."

JDS is developing the parcel on First Avenue between East 35th and 36th streets, along with minority partners Largo Investments. The development team will stick largely to plans Mr. Solow had won city approval for back in 2008, when the entire 9.2-acre property was rezoned for residential use. Mr. Solow bought the property from Con Ed in 2005 for $630 million.

JDS will build two towers— one 37 stories and the other 47 stories—with total of about 800 apartments. Most of those will be rentals, but Mr. Stern said he might add some condo units depending on market conditions when the project is finished, tentatively in 2016.

He said he was currently interviewing architects to design the towers, and expects to pick one in coming weeks. Construction is expected to begin this summer
. The site is already vacant.

There will also be more than an acre of open space at the base of the towers, and Mr. Stern said he is working with the Department of City Planning to ensure a strong connection to the waterfront. The FDR Drive stands between the property and the river, but Mr. Stern said he and the city are working on a solution to this problem, which could result in a pedestrian bridge or deck of some kind.

"There really hasn't been a large-scale, great building like this built in the neighborhood in a generation," Mr. Stern said.

Mr. Stern said that with more than a million square feet in his project, he is not waiting around for the neighborhood to grow up around him. "We are self-contained and ready to go," he said. The entire JDS project is expected to cost $600 million and is fully financed, according to Mr. Stern. "To have the opportunity to build to this scale in a prime Midtown location— it's one of the largest, if not the largest piece of prime real estate in Midtown— is pretty exciting," Mr. Stern said.
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  #2  
Old Posted Feb 13, 2013, 10:36 PM
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Wow, the east side is finally going to experience some growth opportunities, not to mention opportunities for exciting renderings for us to judge to discuss!
     
     
  #3  
Old Posted Feb 13, 2013, 10:39 PM
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These would be the two towers at the southern end of the development:


The original proposal: (southern end not shown)




A later rendition:




Scaled back:





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  #4  
Old Posted Feb 13, 2013, 10:43 PM
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Those towers really blend into the surrounding neighborhood just fine.
They are not trying to make any bold statements unlike the nearby Trump tower.

If the final renders resemble what we see above, then I'm already interested in seeing this project begin.
     
     
  #5  
Old Posted Feb 13, 2013, 10:47 PM
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Quote:
Originally Posted by TechTalkGuy View Post
If the final renders resemble what we see above, then I'm already interested in seeing this project begin.
We'll see.

Quote:
He said he was currently interviewing architects to design the towers, and expects to pick one in coming weeks.

Whilte those designs were ok, I couldn't help but fill the east side was wasting a big oppurtunity here, contrasting with what was happening on the west side. My excitement for this development eventually sapped away to nothing, but finally getting something built is exciting.
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  #6  
Old Posted Feb 13, 2013, 10:51 PM
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Are you hoping for something that was not announced?

I don't recall reading anything about a supertall.
The added density alone is worthy of this project, don't you think?
     
     
  #7  
Old Posted Feb 13, 2013, 11:03 PM
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Originally Posted by TechTalkGuy View Post
Are you hoping for something that was not announced?

I don't recall reading anything about a supertall.
The added density alone is worthy of this project, don't you think?
No, it will be as they announced, but some exciting architecture would be nice. It's a very prominent location on the waterfront, along with towers like the UN.
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  #8  
Old Posted Feb 13, 2013, 11:12 PM
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I'll pass my own judgement when the renders become available.

There's certainly no lack of talent in NYC, that's for sure!

Maybe we will see some inspiring designs that we found appealing in other towers such as One57.
     
     
  #9  
Old Posted Feb 13, 2013, 11:29 PM
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Quote:
Originally Posted by TechTalkGuy View Post
Maybe we will see some inspiring designs that we found appealing in other towers such as One57.
We could hope. But they seem to be in a hurry to build, and who could blame them with the residential market being as hot as it is...


Quote:
Mr. Stern said that with more than a million square feet in his project, he is not waiting around for the neighborhood to grow up around him. "We are self-contained and ready to go," he said.
It will be interesting to see what develops here along with what Extell plans for it's site along the east river down by the Manhattan Bridge.
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  #10  
Old Posted Feb 13, 2013, 11:33 PM
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Originally Posted by NYguy View Post
No, it will be as they announced, but some exciting architecture would be nice. It's a very prominent location on the waterfront, along with towers like the UN.
I agree.. These towers are too bland. The riverfront of a city should usually have some showcase designs, old or new. NY tends to have a lot of junk buildings directly on the river sadly. Most river cities of significance have some of their best buildings in such locations for easy viewing and helping to accentuate the natural setting.

I think we should be demanding more than just added density by now, especially there.
     
     
  #11  
Old Posted Feb 13, 2013, 11:36 PM
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We can't get too excited until these proposals are approved and ready to begin.

As much as I want design, the added density alone is very attractive!
     
     
  #12  
Old Posted Feb 14, 2013, 7:14 AM
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The towers are already approved and financed. That leads me to beleive it probably won't be too much different from previous plans, even though they are seeking a new architect. We'll have to see.



BTW, looks like a school is going to open on part of this site...(425 East 35th Street).

http://a810-bisweb.nyc.gov/bisweb/Jo...ssdocnumber=12

http://www.dnainfo.com/new-york/2013..._hood_id=25179

Quote:
Beginning in the fall of 2013, another school, P.S. 281, will join the mix, with a brand-new building on First Avenue and East 35th Street.





http://www.dnainfo.com/new-york/2012...-at-new-school
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  #13  
Old Posted Feb 14, 2013, 5:53 PM
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I remember there was quite a bit of excitment about developing this area 6 -7 years ago, then, opposition from the eastside residence lead to numerous revisions(height reductions), then the recession, then puff! everything when dormant. Glad to see something happening with this very prominent location. Just hoping for something spectacular, which doesn't always align well with the rush to just build.
     
     
  #14  
Old Posted Feb 15, 2013, 12:35 AM
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Originally Posted by Antares41 View Post
I remember there was quite a bit of excitment about developing this area 6 -7 years ago, then, opposition from the eastside residence lead to numerous revisions(height reductions), then the recession, then puff! everything when dormant. Glad to see something happening with this very prominent location. Just hoping for something spectacular, which doesn't always align well with the rush to just build.
Yeah, the excitement has long vanished. It remains to be seen what will happen with the rest of the site. I think another developer could have made something happen by now, there aren't many prime waterfront sites of this size in Manhattan.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
     
     
  #15  
Old Posted Feb 15, 2013, 1:24 AM
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Why in the world would a Manhattan resident raise an issue with having a series of nearby skyscrapers?

I would be thrilled with honor to have skyscrapers around the corner from me!
How awesome would that be?
     
     
  #16  
Old Posted Feb 15, 2013, 7:57 PM
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Originally Posted by TechTalkGuy View Post
Why in the world would a Manhattan resident raise an issue with having a series of nearby skyscrapers?

I would be thrilled with honor to have skyscrapers around the corner from me!
How awesome would that be?
Surely you can't be that naive. Manhattan is packed full of NIMBYs.
     
     
  #17  
Old Posted Feb 15, 2013, 8:04 PM
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Any news on the larger northern site?
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  #18  
Old Posted Feb 15, 2013, 9:24 PM
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Surely you can't be that naive. Manhattan is packed full of NIMBYs.
Damn right it is. And of course most people don't like scrapers.
     
     
  #19  
Old Posted Feb 16, 2013, 1:08 AM
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Surely you can't be that naive. Manhattan is packed full of NIMBYs.
If they don't like it, then why are they living in New York City?

They should move to a small town and leave the city for those of us who desire skyscrapers around every street corner on every block of the city in all directions.
     
     
  #20  
Old Posted Feb 16, 2013, 3:00 AM
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If they don't like it, then why are they living in New York City?

They should move to a small town and leave the city for those of us who desire skyscrapers around every street corner on every block of the city in all directions.
I completely agree!! But if you follow development in NYC, you know this isn't the case.
     
     
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