The City Planning Commission has approved plans for a 22-story, 140-unit mixed-use project proposed at 170 Eleventh Avenue, located on the corner of West 23rd Street in West Chelsea. Now that the city has approved of the development plans, Related Companies is moving forward with acquiring the assemblage for $200 million to build the project.
The building, which has not yet been filed with the Department of Buildings, is expected to encompass 288,000 square feet. In addition to 140 residential units, there will be ground-floor retail and art gallery space.
The project required approval from the city because the assemblage contained properties with different zoning regulations. The sites Related will utilize include the three-story commercial building at 170 Eleventh Avenue and the single-story buildings at 548-552 West 23rd Street and 555 West 22nd Street, Real Estate Weekly reported. Demolition permits were filed in February.