City seeks developer for Hell’s Kitchen sites

All housing built must be affordable

TRD New York /
Apr.April 09, 2018 12:35 PM

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.


Related Articles

arrow_forward_ios

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

California passes landmark rent control law

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

The construction giants catching a Windy City windfall

David Marx of MDG Real Estate and the site at 71-05 Parsons Boulevard in Queens (Credit: Google Images and iStock)

Here’s a weird one: David Marx plans towers at Queens site he bought from his own company

Resi scorecard: Brooklyn and Queens condo inventory through June 2019

arrow_forward_ios