Extell plans Hudson Square project with affordable housing

68 Charlton Street will not have a "poor door," Extell says

TRD New York /
Feb.February 28, 2014 06:54 PM

Extell Development has submitted plans for a 22-story residential building at 68 Charlton Street in Hudson Square that would reportedly bring the neighborhood its first affordable housing.

The proposal includes 116 total units, 91 of which would be market-rate co-ops and 25 of which will be affordable rentals. Among the reduced-rate units, the breakdown would be 22 two-bedroom apartments and three studios, ranging from a rental rate of $830 per month to $1,080 per month. 

The breakdown would render more than 20 percent of the units affordable, and so Extell has said it will apply for both a 421a state tax break and an inclusionary-housing bonus, offered as part of the new Hudson Square Special district, which would provide an increase in  floor area ratio in exchange for the affordable housing.

Community Board 2 is so far on board with the proposal, asking that Extell grant affordable housing tenants free access to the building’s courtyard, basketball court, bicycle parking and children’s playrooms, and reduced-rate access to the pool, gym and steam room. Extell has agreed.

The only remaining bone of contention for the moment is the placement of the affordable units within the building. Extell has said there will be no “poor door,” with all residents accessing their homes via the only lobby, to be located on the Charlton Street side. But the affordable units are to all be stacked between the second and 15th floors on the Vandam Street side of the building — relegating those tenants to one section of the structure, largely separate from the market rate residents.

Though Extell submitted renderings for CB2’s review, it has so far declined to release them for publication. [The Villager]Julie Strickland


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Extell lands $690M refinancing package for One Manhattan Square
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
Lanhee Yung and Sush Torgalkar (Photos via Cornell; Getty)

Extell, Starwood alums seek $500M for “contrarian” investing

Extell, Starwood alums seek $500M for “contrarian” investing
Extell's Gary Barnett and a rendering of 50 West 66th Street (Courtesy of Snøhetta)

Judge throws cold water on Extell’s UWS condo development

Judge throws cold water on Extell’s UWS condo development
Tel Aviv Stock Exchange bull (Wikimedia Commons)

NYC developers face downgrades on Israeli bond market

NYC developers face downgrades on Israeli bond market
Claude Wasserstein and 995 Fifth Avenue (Getty, Google Maps, Sotheby's)

Claude Wasserstein relists UES penthouse for $55M

Claude Wasserstein relists UES penthouse for $55M
Gary Barnett and Sush Torgalkar with 225 West 57th Street, 225 West 86th Street, and 169 Columbia Heights in Brooklyn (Credit: Getty Images, iStock, and CityRealty)

Torgalkar out as CEO of Extell: sources

Torgalkar out as CEO of Extell: sources
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...