May 8, 2017
Dormitories, new office space and affordable housing will fill out a new, 500-foot tower planned for a former police department parking lot on the Far West Side of Manhattan.
The New York City Economic Development Corp. picked Radson Development and Kingspoint Heights Development to develop the lot at 495 11th Ave., because they created a plan that would use income from other parts of the project to allow the rents to be set at affordable levels at all 234 new apartments.
“To get a 100% affordable housing project on a city-owned site is huge for this district,” New York City Councilman Corey Johnson told the Wall Street Journal. “The area has become a lot more expensive.”
The tower will reportedly include 200,000 square feet of new office space, 80,000 square feet of dorms and a 12,000-square-foot grocery store, as well as amenities including a gym and food court.
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