The Real Deal New York

Related reveals first glimpse of 12-story Tribeca rentals

Developer sought "inclusionary housing" bonus to build beyond zoning constraints
June 09, 2014 11:50AM

The Related Companies have revealed renderings for a 12-story rental building at 261 Hudson Street in Tribeca.

The Ismael Leyva-designed property between Spring and Canal streets will hold 201 apartments, adhering to the 80-20 structure, Tribeca Citizen reports. Forty-one of the units will be affordable; the rest will be market rate.

In March, the developer sought to use an “inclusionary housing” bonus that would allow it to build bigger than zoning allows in exchange for affordable housing, as previously reported. A one-story brick building on the site was demolished last year. [Tribeca Citizen]Mark Maurer