It looks like a 10-story hotel is finally going up at 119 Orchard Street, the former home of Fine & Klein Handbags. Curbed noticed Buildings Department records spelling out plans for a “mix use building with residential, hotel, eating and drinking establishment and (a) community facility.”
The restaurant/bar would be in the “cellar/sub-cellar,” a healthcare facility is envisioned on the first floor and there would be 16 hotel rooms and four apartments. Back in 2008, the Real Deal reported that Shimon Avadi of SAS Property Management had purchased the site for $4.22 million and planned to develop a boutique hotel. But like so many projects begun as the economy cratered at around that time, the parcel languished as construction plans were put on hold. Building ownership has not changed.
The Lower East Side rezoning in 2008 put in place a 120 foot height limit on Orchard Street (the parcel is zoned C6-2A). The building will be about 11,500 square feet.
The 120 ft height cap is invariant regardless of type of unit, residential, commercial or community facility. What varies is the floorspace (bulk) that can be filled within that height and footprint. The zone allows limited space for market rate residential space, more for commercial space, more still for community facility and even yet more residential if the developer includes affordable housing. But the developer can get the most space if he buys nearby air rights and fill the lot with the highest-yield units, no affordable housing.
just what the ‘hood needs, ANOTHER HOTEL!!! YAAAAAAYYYYY!!!!
Enough with the hotels!
The 11,500 sq ft (FAR 6.3 for the lot) are just above the commercial bulk allowance (FAR 6) and just under the community facility allowance (FAR 6.5) and well under the IZ allowance for including affordable housing (FAR7.2), so it looks like the developer did not opt for any affordable housing either at the site or off-site despite the availability of the 421a tax incentive.
Thanks, Rob, for the information.