City Gives Developer More Time to Finish 180 Ludlow

It looks like 180 Ludlow, one of a handful of languishing hotel projects on the Lower East Side, is one step closer to being resuscitated.  Financing woes, legal battles and problems with city permits idled the construction site more than two years ago. But at least one of developer Serge Hoyda’s obstacles in finishing the job has now been cleared.

In the past week, the Board of Standards and Appeals finally gave Hoyda the go-ahead to resume work on the 20-story hotel, which has plagued Ludlow Street businesses and residents for several years.  Initially, the city only gave him two years to complete the project (which was approved before new height limits were imposed on this block). Now he has another two years to get the job done (May 2013 is the new deadline).

So far, no new permits are showing up in the Department of Buildings’ computer system.  There’s been talk that Hoyda intends to sell the building site. As we reported a few weeks ago, Ira Yavarkovsky (who owned several parcels making up the development site), is suing Hoyda, alleging that Hoyda still owes him $12 million for the land.

Community Board 3 declined to support Hoyda’s application for an “extension of time,” in part, because he could not commit to hiring at least 20% local workers once the hotel opens for business.