This area of 42nd street is starting to look like the land of the twin towers. Simple design but it blends very well with its surrounding.
A well know NY developer is developing this 1,600,000 SF new high-rise luxury, mixed-use development. The development is near the Javits Convention Center and adjacent to the entrance of the Lincoln Tunnel in New York’s Hudson Yards district. The 770 foot tall development is comprised of two 60-story towers atop a 5-story retail and parking podium on Manhattan’s burgeoning Far West Side. The 600 foot tall towers include 1,350 residential units totaling 1,000,000 SF above a retail/parking podium that includes 180,000 SF of retail/commercial space accommodating big-box tenants that will provide convenience and subsequently enhance the residential attractiveness. One tower also contains 175 units of corporate housing totaling 175,000 SF.
514 Eleventh Avenue embraces the views afforded by the close proximity to the Hudson River, while also capitalizing on its short distance to Times Square and the Javits Center by creating an attractive urban experience at street-level.
Neighbors want active developer Silverstein Properties to tone down the height of its Mercedes Benz dealership-replacing development, planned for the far West Side. This opinion on 520 West 41st Street—known in the past as 514 Eleventh Avenue—quietly gained traction last week at a Community Board 4 meeting of the Hell's Kitchen Land Use Committee, which resulted in a draft letter (warning: PDF, pages 5-6) to the Department of City Planning requesting that the project's pre-application height of 1,100 feet get chopped down. The letter also emphasizes that that the 20 percent affordable housing the project may contain "must be evenly distributed in location and type throughout the building and contain an equal level of apartment finish and equal and affordable access to all building amenities."
Despite the committee's reservations, a tall tower would not stick out like a sore thumb in the area. The development would neighbor Silverstein's 60-story Silver Towers on 42nd Street and 41-story building at One River Place on the other side of Eleventh Avenue. There's also Moinian's Atelier 2 rental project along those at Extell's 52-story 574 Tenth Avenue. With the Hudson Yards and Manhattan West developments underway, Silverstein's Lincoln Tunnel entrance-area buildings add even more fuel to the West Side's high-rise fire.
The developer of the World Trade Center has backed away from plans to build the city’s tallest residential tower on Manhattan’s West Side, Crains reported Sunday.
Silverstein Properties was going to build a sky-scraper-like tower with more than 1,400 units — but changed its mind because of a dispute over how many to set aside for affordable housing, Crains said.
“With everything we have going on at the World Trade Center and elsewhere, this just isn’t the right time for us to develop this project,” a Silverstein spokesman said in a statement to Crains.
Silverstein Properties, best known for developing the World Trade Center, plans to sell the property, the magazine reported.
It bought the site — a former Mercedes dealership — for $100 million.
A City Hall spokesman told Crains that the de Blasio administration’s affordable housing requirements might have played a role in the developer’s decision.
Silverstein's ambitious plan called for the tallest residential building in the city with a soaring 1,100-foot spire also included 300,000 feet of commercial real estate space.
But his company wanted most of the 1,400 units to be for luxury housing — and the city wanted more to be available at under market rates, Crains said.
“This project would be held to the same mandatory affordable-housing requirement as every city-backed or private rezoning,” the City Hall spokesman said in a statement.
Located at 514 11th Ave., the site stretched an entire city block.
It's right in the middle of the Hudson Yards commercial neighborhood that’s undergoing rapid transformation.
The commercial zoning required at least 1.2 million square feet of the tower be office space, Crains said.
Silverstein wanted permission from the city to convert most of that footage into residential units, the magazine said
The developer hoped its proximity to nearby Hell's Kitchen, a residential zone, would allow him to build apartments instead of offices.
Silverstein did just finish building two huge residential units few blocks away. Silver Towers hold 1,300 apartments.
As part of that deal, Silverstein agreed to set aside 375,000 square feet for affordable units.
City Hall said it wasn't 100% clear that Silverstein decided to drop his Hudson Yards project just because of the affordable housing negotiations.
“This is a very complex project, and it's not clear that affordable housing is actually the sticking point,” the city told Crains.
It now seems that Silverstein is interested in building the project in two phases. The first phase could see the construction of a CetraRuddy-designed residential tower that would span 600,000 square feet. Money generated from that development would then likely fund a second, larger tower with 1.2 million square feet of commercial space.