It won't pop out of the ground overnight, but the fast-growing Far West Side, also known as the Hudson Yards neighborhood, will see future construction of a 72-story skyscraper apartment tower and a 28-story hotel.
Gov. Cathy Hochul gave a “conditional designation” to a four-member development partnership to build a tower and Hilton-branded hotel at 418 11th Street between West 35th and 36th Streets. Specified.
The site is currently a vacant lot across from the Jacob Javits Convention Center.
There will be approximately 1,400 apartments, 404 of which will be permanently affordable, ESDC said.
The hotel will provide 455 much-needed guest rooms to Javits Center attendees.
The development team, known as Hudson Boulevard Collective, is comprised of publicly traded BXP (formerly Boston Properties), Joseph Moinian's famed New York-based Moinian Group, and minority shareholders BRP Companies and Urbain Group. are.
BRP is a partner in the successful Urban League headquarters on West 125th Street. BRP and Urbane hold a 31% stake in the collective.
The project is expected to cost $1.35 billion. FXCollective will be the lead architect.
The site, one block north of Affiliate's Hudson Yards complex and diagonally across from Tishman Speyer's Spiral, has a troubled history.
The state had long wanted it to be developed as a complement to nearby private projects.
Under former Gov. Andrew Cuomo, the Empire State Development Corporation planned to select developers for primarily commercial projects.
But the state's priorities have shifted as the office market slumps due to the pandemic and city officials and civic groups call for more housing.
In 2021, Hochul abandoned its original request for proposals and issued a new RFP calling for the decommissioning of the residential and commercial portions.
The step doomed developer Don Peebles' widely publicized proposal for a so-called “Affirmation Tower” that would be more than 1,600 feet tall but would not include any housing.
Because the land is state-owned, it is exempt from city planning regulations, but it still must undergo an environmental review and receive public comment.
Construction is not expected to begin for three and a half years, with the residential towers expected to be completed first, Crain's reported.
ESDC CEO and President Hope Knight said the site's development “represents a pivotal moment in the evolution of the Far West Side.”
