New rendering of 140 Essex Street courtesy of Beyer Blinder Belle
Thanks to a $34 million loan from Wells Fargo, Delancey Street Associates closed last week on financing the construction of a 100 percent affordable senior building at 140 Essex Street, site 8 of the 1.9 million-square-foot Essex Crossing development. Originally, the project called for an 80/20 condo building, but developers decided to add 61 more affordable units to the building, bringing the number of affordable rentals at the Lower East Side complex to 561 out of 1,078 total units. Designed by Beyer Blinder Belle, the building at 140 Essex will rise 8 stories and include 92 affordable homes for seniors earning between 0 and 60 percent of the area median income, as well as 9,600 square feet of retail on the ground floor. Construction will begin soon, with an expected opening date sometime in 2019.
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, Thu, September 28, 2017
Rendering of Essex Crossing’s second phase, courtesy of Moso Studio via Curbed NY
Construction continues to progress at Essex Crossing, the roughly 1.9 million-square-foot mixed-use development planned to stretch several blocks on Manhattan’s Lower East Side. The site, also known as the Seward Park Urban Renewal Area, sat abandoned since 1967 until the city sold the nine sites to developers in 2013. While construction of the first phase of the massive project, which includes sites one, two, five and six, is underway, Curbed has acquired renderings for the development’s second phase, sites three and four. The third and fourth sites will be designed by CetraRuddy and Handel Architects, respectively, and feature residential, retail, office and outdoor space.
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Rendering of LES Target courtesy of Beyer Blinder Belle
New York City is experiencing a Target-takeover. The retailer has just signed a lease to open a 22,500 square-foot store in the Lower East Side at Essex Crossing, a 1.9 million-square-foot development stretching across several Manhattan blocks. As the Wall Street Journal reports, the new store will be located on the second floor of 145 Clinton Street, a 15-floor tower currently under construction. A Trader Joe’s supermarket will be on the lower level and apartments will be housed above.
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At the beginning of last month, the first affordable housing lottery opened for Essex Crossing at Beyer Blinder Belle‘s huge mixed-use building 145 Clinton Street, where 104 below-market rate units were up for grabs. As of today, the second lottery is open, this time at Dattner Architects‘ 175 Delancey Street, a 14-story, 100-unit building at the megadevelopment’s site 6 that will also offer ground-floor retail, medical offices for NYU Langone, and a senior center and job training facility from the Grand Street Settlement. These 99 one-bedroom apartments are set aside for one- and two-person households that have at least one resident who is 55 years of age or older. They’re also earmarked for those earning 0, 30, 40, 60, and 90 percent of the area median income and range from $396/month to $1,254/month.
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It’s been almost exactly a year since Beyer Blinder Belle released renderings of Essex Crossing‘s site 5, a $110 million, 15-story mixed-use building that will give way to 73,000 square feet of retail space, where Trader Joes and Planet Fitness will move in, and a 15,000-square-foot adjacent park. Located just a block southwest of the Manhattan entrance of the Williamsburg Bridge at 145 Clinton Street, it will have 211 rental units, half of which will be reserved for low- and middle-income individuals. These 104 affordable apartments are now available through the city’s online housing lottery, the first of the mega-development’s 561 affordable residences to come online. They’re set aside for those earning 40, 60, 120, and 165 percent of the area media income and range from $519/month studios to $3,424/month three-bedrooms.
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The Essex Crossing megaproject is taking shape in the Lower East Side, most notably with the Market Line, the 150,000 square-foot retail area serving the project’s buildings. Within will be the new home for the neighborhood’s beloved 76-year-old Essex Street Market, upon which concept the modern retail destination was built. As 6sqft previously reported, the SHoP Architects-designed market will be among the largest in the nation. Principal Rohan Mehra of the project’s retail development firm Prusik Group told Curbed that he compares the new market to Seattle’s Pike Place Market or Barcelona’s La Boqueria, “hubs of activity” all. The Market Line will stretch over 700 feet across three buildings, incorporating the new city-operated Essex Street Market and several new spaces.
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, Tue, September 27, 2016
Only one of the 10 towers at Essex Crossing–the 1.65 million-square-foot, mixed-use, mega-development underway on the Lower East Side–will offer condos, and those looking to buy a residence there now have their chance. Curbed reports that sales have launched at 242 Broome Street, the SHoP-designed tower that will house 55 one- to three-bedroom condos, 11 of which will be affordable. As 6sqft previously shared, market-rate units will range from $1,275,000 to $7,000,000. Along with this news comes the first set of interior renderings from DXA Studio, whose designs “balance serenity with modernism.”
More details and renderings ahead
Though Essex Crossing will bring 1.65 million square feet of residential, community, and commercial space to the Lower East Side, only one of the 10 sites will offer condos–242 Broome Street. Located at Site One, the SHoP Architects-designed tower is currently getting its foundation poured, and along with this groundbreaking comes a sales website with new details on the project, reports CityRealty.com.
The 14-story building will have a five-story base to house retail and commercial tenants and a bowling alley from Splitsville Luxury Lanes. On the fifth floor will be a cultural space (the Andy Warhol Museum previously planned to open an outpost here) and rooftop sculpture garden. Above will be 55 one- to three-bedroom condos, 11 of which will be affordable. Tentative pricing for the market-rate units ranges from $1,275,000 to $7,000,000, according to the latest edition of Elliman Magazine (the brokerage will be handling sales).
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The nine-site Essex Crossing plan underway on the Lower East Side will bring more than 1.9 million square feet of residential, commercial, and community space to the largest undeveloped swath of land in the borough south of 96th Street. The long-tweeked master plan is being developed by an alliance named Delancey Street Associates, which consists of BFC Partners, L+M Development Partners, and Taconic Investment Partners.
The plan’s site 5, located just a block southwest of the Manhattan entrance of the Williamsburg Bridge at 145 Clinton Street, will bring 211 apartments, 73,000 square feet of retail space, and a 15,000-square-foot park to the full-block parcel between Grand, Clinton, Broome and Suffolk streets. Beyer Blinder Belle Architects & Planners are the designers of the red-brick tower and recently published a set of renderings, first shown to the community in 2015, giving us a more detailed look at the $110 million, 15-story building.
More details and renderings ahead
The $1.1 billion Essex Crossing project will be a 1.65 million-square-foot, mixed-use mega-development anchored by 1,000 residential units and a mix of cultural, community, and retail facilities. Of course, a project of this magnitude is not without controversy, and perhaps the biggest debate was over the loss of the 75-year-old Essex Street Market. But new details have emerged on how the market will actually be expanded and transformed into one of the five biggest markets in the country, according to Curbed. Known as the Market Line, the bi-level space designed by SHoP Architects will cover 150,000 square feet and connect three sites along Broome Street. It will be a foodie/retail promenade with a floating garden, beer hall, galleries, tech incubators, and, according to renderings, an outpost of Smorgasburg.
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