Harlem’s Victoria Theater is finally getting a makeover, Real Estate Weekly reported. The building on 125th Street, designated a city landmark in 1993, will be transformed into a mix of hotel rooms, residences and retail space. Developers Exact Capital and Danforth Development Partners have tapped architects Aufgang & Subotovsky to design the project; construction is scheduled to start in the fourth quarter.
The 300,000-square-foot building will be divided into a 210-room hotel, operated by Cambria Suites; 206 apartments, half of which will be affordable housing; a 5,000-square-foot ballroom; 24,000 square feet of retail at ground level; and 25,000 square feet for local cultural institutions.
As reported by The Real Deal, the Empire State Development Corp. approved the proposal last summer.
The project is expected to create 700 construction jobs and 373 permanent jobs. [REW] —Zachary Kussin