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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On this day in 1884, the country’s first roller coaster opened at Coney Island, sparking Americans’ obsession with amusement rides. Invented by LaMarcus Thompson, the ride, called the Switchback Railway, spanned 600 feet and traveled just six miles per hour. Unlike today’s coasters, the Switchback did not make a round trip loop, and passengers exited at the end of the track. The one-minute long ride cost only five cents.
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For the first time in 100 years, ferry service will be available to all five boroughs as part of a two-year $325 million initiative by Mayor de Blasio. As the Wall Street Journal reported, the plan will add at least 200 jobs to the city’s economy. Half of these available jobs will pay at least $50,000 per year or more, according to the mayor. The plan for the citywide ferry service, launching this summer, will be managed by the Economic Development Corporation and Hornblower Cruises, who will hire deckhands, captains and other crew members.
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City officials are pushing to have the $325 million citywide ferry service, helmed by Hornblower and managed by the city’s Economic Development Corporation, up and running a few months before next November, when Mayor Bill de Blasio stands for re-election. As 6sqft reported in September, two bayou-based shipbuilding companies, Horizon Shipbuilding in Bayou La Batre, Ala. and the awesomely-named Metal Shark in Franklin, La., are racing to complete the 19 new boats scheduled to hit the water this summer. The ferry service will be the most extensive passenger ferry service of its kind in any U.S. city.
Get a sneak peek at the shiny new fleet-to-be
, Fri, September 23, 2016
Mayor Bill de Blasio, the New York City Economic Development Corporation (NYCEDC) and Citywide Ferry operator Hornblower have announced that construction has officially begun on 19 vessels that will kick off New York City’s first citywide ferry system, with vessels sporting the latest in 21st century maritime technology. The mayor said in a statement, “We are moving full steam ahead and bringing modern ferry boats, outfitted with the latest technology and safety features, to our waterways. This new fleet will help us connect commuters and visitors alike to neighborhoods throughout the city.”
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