The agency filed new building applications for an eight-story, 93-unit building on Tuesday at 140 Essex Street, between Rivington and Stanton streets. The property, which is labeled Site 8 on the Essex Crossing master plan, was home to the Low Line Lab from October 2015 until last weekend.
The plans call for 93 apartments spread across 46,540 square feet of residential space, for a little typical unit measuring 500 square feet. The building will also have a 9,745-square-foot retail space on the ground floor, shared terraces on the second and eighth floors, and an eighth-floor library.
Beyer Blinder Belle will handle the design.
The developers had originally planned to build condominiums on the site, with 80 percent of the units priced at market rates and the rest to be sold at below-market prices. But under the new 421-a proposal, the developers would not be able to build affordable condos, reports the Lo-Down. Instead, the trio of firms behind Essex Crossing—Taconic Investment Partners, L+M Development Partners and BFC Partners—decided to build low-income housing for seniors. The developers said the affordable senior project is more financially feasible because it relies on state subsidies and tax breaks that aren’t affected by the disappearance of 421-a, according to the blog.
When Essex Crossing is complete, it will include 1,078 units, 52 percent of which will be affordable. The first phase of construction is nearly finished on four sites along Delancey Street near the Williamsburg Bridge, with those buildings scheduled to open in 2018. Phase 1 includes 242 Broome Street (Site 1), a SHoP-designed partially affordable condo building, a 195-unit rental building with a Regal Cinemas for Site 2, a 15-story, 211-unit rental designed by Beyer Blinder Belle on Site 5, and a fully affordable senior development designed by Dattner Architects for Site 6.
The latest project, at 140 Essex Street, is part of the second phase of development.