The Real Deal New York

East River Plaza mall may get 1,000-unit residential topper

Project atop 500,000 sf complex would include higher affordable split than standard 80/20

July 08, 2014 04:00PM

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East River Plaza mall

East River Plaza mall

Blumenfeld Development Group is planning to add a 1,000-unit residential tower atop the existing East River Plaza mall, a complex that currently houses a Costco, Target, Burlington Coat Factory and discount grocer Aldi.

The developer fielded the plans before an East Harlem residents’ meeting last week, noting that a final decision on the addition’s size or height has yet to be determined. He also said that affordability would be a part of any residential project atop East River Plaza, and that the company is looking to do a higher affordable split than the standard 80/20 breakdown.

“The infrastructure is there, the property has water views, is next to the FDR Drive and would be an iconic property,” David Blumenfeld, a principal of the development group, told DNAinfo.

The spot is already zoned for residential use and would require only a modification of the current special permit to build atop the retail center, Blumenfeld said.

Should the project come to fruition, it will join several other tall new residential towers in East Harlem, such as Continuum Company’s planned two 32-story residential buildings at Park Avenue and 125th Street, and Extell Development’s planned residential building atop the recently-purchased Pathmark site at Lexington Avenue and 125th Street.

Mayor Bill de Blasio has also said that his administration will be willing to allow developers greater leeway to build higher in exchange for more affordable units, as DNAinfo reported. [DNAinfo]Julie Strickland

  • AnoNYC

    Good, makes sense (Unlike the garage).

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