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

TRD New York TRD WEEKEND EDITION /
Nov.November 05, 2017 02:28 PM

Robert Gladstone CEO of Madison Equities, front; urbanist Jane Jacobs, back (Front photo by Studio Scrivo; back photo: New York World-Telegram and the Sun Newspaper Photograph Collection, Library of Congress)

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
A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

Nonprofit plans affordable housing development near Essex Crossing
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
New York Attorney General Letitia James and 63-36 99th Street in Rego Park (Getty; StreetEasy)

“Not on my watch”: AG Tish James fines developers who violated 421a

“Not on my watch”: AG Tish James fines developers who violated 421a
902 Drew Street and 400 East 58th Street (Google Maps)

New York’s multifamily sales improve in Q3

New York’s multifamily sales improve in Q3
 Jennifer Lawrence and 17 Jane Street with Edward Minskoff (Getty; Sciame Construction)

Jennifer Lawrence buys at Ed Minskoff’s West Village condo

Jennifer Lawrence buys at Ed Minskoff’s West Village condo
660 Madison Avenue (Photo via Jenel Real Estate)

Safra family finally begins 660 Madison’s office-to-resi conversion

Safra family finally begins 660 Madison’s office-to-resi conversion
New York City council member Margarate Chin, Mayor Bill de Blasio and council member Carlina Rivera (Getty; iStock)

Why the Soho rezoning will pass — and Gowanus, too

Why the Soho rezoning will pass — and Gowanus, too
San Francisco Mayor London Breed (Getty)

San Francisco mayor blasts “lefty movement” for blocking housing

San Francisco mayor blasts “lefty movement” for blocking housing
arrow_forward_ios

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

Loading...