Strategic Capital, the investment arm of the U.S. branch of Beijing-based China State Construction Engineering Corporation (CSCEC), has entered into contract to acquire a majority stake in the development assemblage at 110 Charlton Street, in Hudson Square. CSCEC is expected to partner with property owner Cape Advisors and Forum Absolute Capital Partners to develop a mixed-use building at the site, The Real Deal reported.
Plans were filed last year, but have not been approved, for a 27-story, 170-unit tower that would measure 281,528 square feet and rise 290 feet to its rooftop. There would be 2,801 square feet of ground-floor retail space, followed by 170 residential units, condominiums, on the floors above. Adam Associates Architects is the architect of record.
Two six-story warehouse buildings at 110 Charlton Street and 537 Greenwich Street must first be demolished. Permits were filed to do so last December.