Madison Equities proposes demolition of Jane Jacobs’ West Village Houses

Facing reduced options for warding off impending taxes hikes, the 1,000-person housing community is taking stock of their options

New York Weekend Edition /
Nov.November 05, 2017 02:28 PM

UPDATED November 7, 2017 with statement from the West Village Houses’ board.

An offer on the West Village Houses by developer Madison Equities would tear down the complex’s 42 five-story buildings, designed by Jane Jacobs and Perkins + Will in the 1960s and 1970s, in order to build high-rise housing.

Madison Equities’ offer was made this fall and residents of the 420 units in the complex have been meeting to discuss it and West Village Houses’ board of directors have decided to solicit other offers before making a final decision, according to the Architect’s Newspaper. The developer would not comment on the details of the offer, while the board stated they did not solicit it.

The West Village House’s tax abatement expires in March of next year so the board and residents have been looking at how the community can stay affordable in the face of coming tax increases which the board qualified as “a financially untenable situation for many of our residents,” in a statement to The Real Deal.

However, many residents and preservationists familiar with the work of renowned urbanist Jacobs are horrified the proposal was made to begin with, and that it continues to be considered.

“We find ourselves horrified that such a proposal would be put forward,” one group of residents wrote in a statement to the Architect’s Newspaper. “We wonder why anyone would want to destroy the fruits of Jane Jacobs’ dream. We know that we have the greatest luxury of all, right here, right now; the luxury of living in the world Jane Jacobs imagined.”

The board views the consideration of Madison Equities’ proposal part of their legal duties, according to their statement: “We have a fiduciary responsibility to share that type of information with all shareholders, and our recent meetings have been a way for us to get feedback on what people think about the concepts put forth in the proposal.”

[The Architect’s Newspaper] — E.K. Hudson


Related Articles

arrow_forward_ios
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
From left: Silverstein Properties CEO Marty Burger; BedRock Real Estate Partners co-founder Tracey Applebaum; Council member Julie Won; a rendering of Innovation QNS in Astoria (Getty, BedRock Real Estate Partners, New York City Council)
Council approves Silverstein, BedRock’s $2B Innovation QNS
Council approves Silverstein, BedRock’s $2B Innovation QNS
Related Companies' Stephen Ross with One Flagler, 360 Rosemary, and 515 Fern (Getty, Related Companies)
Mapping out Steve Ross’ South Florida empire
Mapping out Steve Ross’ South Florida empire
Silverstein Properties' Marty Burger, City Council Speaker Adrienne Adams, BedRock Real Estate's Tracey Appelbaum, City Council member Julie Won and Mayor Eric Adams with rendering of Innovation QNS (Silverstein Properties, Getty, New York City Council, Innovation QNS)
5 lessons from Silverstein’s Astoria deal
5 lessons from Silverstein’s Astoria deal
MSquared's Alicia Glen, Mack Real Estate Group's Richard Mack and Association for Neighborhood and Housing Development's Barika Williams (Getty, ANHD)
Richard Mack: New York developers “made to feel like the devil”
Richard Mack: New York developers “made to feel like the devil”
Long Island developer Robert DiNoto (Getty, Google Maps, Robert DiNoto)
Tri-state roundup: LI developer divests after guilty plea
Tri-state roundup: LI developer divests after guilty plea
JK Hotel Group founder Jeff Klein and 113 Jane Street (Getty, Beyond My Ken, CC BY-SA 4.0 - via Wikimedia Commons, JK Hotel Group)
Jane Hotel keeping its doors open after all
Jane Hotel keeping its doors open after all
Crime, money laundering,
Scammer posing as real estate developer sentenced for laundering
Scammer posing as real estate developer sentenced for laundering
arrow_forward_ios

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

Loading...