July 20, 2020
Lendlease and L+M have brought on a new joint venture partner, Daiwa House Texas Inc., on their mixed-use development at 100 Claremont Ave. in Northern Manhattan’s Morningside Heights neighborhood. The 354,000-square-foot project, designed by Robert A.M. Stern Architects, includes residential and academic components and is slated for completion in spring 2023.
Daiwa House is providing Lendlease and L+M, the two development partners, with substantial equity investment for the project. Daiwa House Texas Inc., a wholly-owned subsidiary of Japan-based Daiwa House Industry Co., Ltd., is pursuing a strategic initiative to expand the company’s business in North America.
“With the addition of Daiwa House, we have solidified a world-class partnership for the development of 100 Claremont Ave., which will allow us to deliver much needed new classroom facilities and high-quality housing for the academic community and neighborhood of Morningside Heights,” said Melissa Román Burch, executive general manager at Lendlease.
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