The Real Deal New York

City seeks developer for Hell’s Kitchen sites

All housing built must be affordable
By Will Parker | April 09, 2018 12:35PM

10th Avenue between 48th and 49th Street Maria Torres Springer (Credit: Google Maps)

Developers who want a piece of the action near Hudson Yards still have a chance, so long as they don’t plan on building another luxury tower.

The city’s House Preservation and Development agency announced Monday that it would entertain “100 percent affordable” housing development proposals for two sites in the Hell’s Kitchen neighborhood north of Hudson Yards. Any proposal would have to include affordable housing “for a mix of incomes,” according to an HPD press release.

The two available sites total 43,000 square feet on the ground. One is located on the west side of 10th Avenue between 48th and 49th streets and the other is at the corner of Ninth Avenue and 54th Street. Proposals for the Ninth Avenue site must include retail, office and parking space and proposals for the 10th Avenue location must include a public space that would be developed by the city’s parks department.

Although located a good ways north of where most Hudson Yards development is taking place, both sites are considered part of the city’s Hudson Yards plan and are currently managed by the Metropolitan Transportation Authority and the New York City Department of Environmental Protection. The deadline for proposals is July 13.

Most of the residential development around Hudson Yards has been luxury. Related Companies is at work selling its $1.75 billion condo offering at the 285-unit 15 Hudson Yards, which also features 106 units of affordable rental housing. Related is also shooting for a $1.53 billion sellout at the nearby condo project 35 Hudson Yards. Meanwhile, Brookfield Property Partners’ the Eugene, the tallest rental in Manhattan, offers affordable housing for 20 percent of the apartments at the 844-unit tower, whereas the market-rate units lease for as much as $10,196 a month, according to StreetEasy.