The City of New York and the developers of Essex Crossing are taking the next steps in building the large project in the former Seward Park Urban Renewal Area. As The Real Deal noted yesterday, plans have been filed for a 15-story residential/commercial building at 202 Broome St. (between Norfolk and Suffolk streets).
The building, located on project site 3, will include 83 market rate condo units, part of the Market Line shopping pavilion and four floors for offices. Approximately 154,000 square feet have been set aside for commercial use on this site. The condo units begin on the 7th floor. CetraRuddy is the architect of record.
Delancey Street Associates, the development consortium, will complete construction next year on the first four buildings. The first phase will include more than half of the 1,078 apartments in the project, as well as a new Essex Street Market, a 14-screen Regal movie theater, a medical center from NYU Langone, a Trader Joe’s supermarket, a Target store and a bowling alley complex called Splitsville Lanes.
202 Broome St. was originally slated to be a mixed-income rental building. Delays in resuscitating a version of the state’s 421-a tax incentive program prompted the developers to change plans. The site 3 building is now 100% market rate, while a building at 140 Essex St. (site 8) will include 92 studio apartments for low-income seniors. Site 4, at 180 Broome St., will be a 25-story building with mixed-income rental housing and more office space. In total, 52% of the apartments in the Essex Crossing project are considered affordable.
The Market Line is a large subterranean space running below sites 2, 3 and 4. The first phase is set to debut on Essex Street in the fall of 2018. When the second phase of the project is complete in 2021, the full Market Line will be open for business. The small-format retail complex is meant to complement the Essex Street Market and will be food-focused, but also include artisans, clothing designers and other independent retail concepts.
Essex Crossing is a partnership among Taconic Investment Partners, L+M Development Partners and BFC Partners. The initial plans for 202 Broome St. were filed by the city’s Department of Housing Preservation and Development. The developers will not take ownership of the site until shortly before construction begins.
