L+M Development, BFC Partners, Taconic Partners Win Seward Park Site

The Seward Park site, looking south on Delancey Street. Photo by Vivienne Gucwa.

The Seward Park site, looking south on Delancey Street. Photo by Vivienne Gucwa.

This afternoon, the New York Times has the story: details of the Seward Park Project, set to be announced on the Lower East Side tomorrow morning.

Here are excerpts from the story:

…the Bloomberg administration plans to announce on Wednesday that it has selected developers to erect a complex called Essex Crossing at the location, long known as the Seward Park urban renewal area. The development would include retail markets, restaurants, office space, a movie theater, parks, an Andy Warhol Museum and 1,000 apartments. Half of the apartments would be for low-, moderate- and middle-income families.  Designed by SHoP Architects and Beyer Blinder Belle, the glassy, six-acre complex would be built over the next decade by a consortium on nine city-owned lots… The developers selected for the project — L&M Development Partners, BFC Partners, Taconic Investment Partners and Grand Street Settlement — won out over some of the city’s most prominent builders. In return, the developers will pay the city $180 million and start the first building within 18 months… One of the winning developers, Ron Moelis, chairman of L&M Development Partners, said, “It’s a big enough site that we can create a community that has all the aspects of what one wants in a neighborhood: a mix of housing, retail, entertainment, food, job training and office space that will serve both low income people who live there and newcomers to the area.

 

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