Columbus Square sparks renter interest

January 24, 2011 11:09AM

Columbus Square general manager Jeffrey Davis and the development at 808 Columbus Avenue

A five-building, 710-unit rental complex on the Upper West Side is nearing completion, according to the Wall Street Journal, and, despite the premium price tag on many of its units, the development at 808 Columbus Avenue near 100th Street is drawing plenty of interest from renters. The $650 million Columbus Square residential project, which includes several big box stores, including a Whole Foods, Modell’s and TJ Maxx, as well as two private schools, has already leased out all the units at two of its buildings. The third, which just recently opened, was 20 percent leased after a week and a half on the market. The other two buildings are slated to open this spring. The complex, developed through a partnership by the Chetrit Group and Stellar Management, has units starting at $3,500 per month for one-bedrooms. Elliott Sclar, an urban planning professor at Columbia University, said that the development is successful because of its balance between residential and social amenities. “Columbus Square was clearly designed to reflect a renewed appreciation for street life and for stores that are already popular in the suburbs,” Sclar said. [WSJ]