search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment dealTony Park and Elad Dror take a gamble on Koreatown office-to-resi conversionTony Park and Elad Dror take a gamble on Koreatown office-to-resi conversionGVA sells Georgetown apartments for $25M in “forced sale” GVA sells Georgetown apartments for $25M in “forced sale” 
New York

Landmarks delays vote on Pearl Paint redevelopment

Trans World Properties plans to convert Tribeca property into mixed-use buildings

Proposed plans for 310-308 Canal Street (credit: Landmarks Preservation Commission)
Proposed plans for 310-308 Canal Street (credit: Landmarks Preservation Commission)

Trans World Equities’ plans to redevelop one of Tribeca’s iconic Pearl Paint buildings have hit a snag. The Landmarks Preservation Commission held off on approval of the repositioning of the property — which falls within the Tribeca East Historic Preservation District — at a public hearing last week.

The developer wants to turn 310 and 308 Canal Street into mixed-use buildings, adding two stories on top of both buildings, New York YIMBY reported. The designs — which come from Paul A. Castrucci Architect — would allow for retail on the first floors and eight new residential units in each building.

308-310 Canal Street (credit: Landmarks Preservation Commission) (Click to enlarge)

Both properties are currently four-story, through-block store and loft buildings, according to the website. The property at 308 Canal Street is Italianate in style and was constructed between 1864 and 1865. The building at 310 Canal Street was built in 1879.

Sign Up for the undefined Newsletter

The proposed two-story rooftop addition was the main issue for the commission, New York YIMBY reported.

“While we could imagine a one-story rooftop addition being acceptable here, the proposed addition is way too big for this building, making the entire façade appear quite top-heavy in the renderings,” testified Barbara Zay of the Historic District Council.

As the agency took no action and Trans World Properties will have to rework the proposal and return to the LPC.

Vornado Realty Trust [TRDataCustom] bought 304-306 Canal Street, the other former Pearl Paint building, in 2014.  The company is currently redeveloping that building, according to New York YIMBY. [NY YIMBY] — Miriam Hall  

Tags
Canal StreetHistoric Districts