The New York City Housing Authority is planning to develop a mixed-income residential building located within the 10-building, 1,093-unit LaGuardia Houses public housing facility on the Lower East Side. The new tower would rise on a vacant portion of land on Madison Street between Rutgers and Clinton streets, DNAinfo reported.
The building could rise as tall as 35 stories and contain between 400 and 500 residential units. Half of the apartments will be designated as affordable and rent at below-market rates, while the other half will be market-rate units. Profits from the building would be reinvested back into existing NYCHA housing stock to fund repairs and improvements.
A request for proposals will be released later this year and a development team is expected to be selected in early 2018, followed by construction beginning in 2019. The Little Flower Playground is not part of the development site.