Latest Stories In: Real Estate
The Yard Opening Incubator Space at 85 Delancey
When the Bowery Residence Committee divested from the Lower East Side in 2010, its two neighborhood outposts – 85 Delancey and 324 Lafayette – were consolidated into one mega-shelter in Chelsea. That facility opened its doors to the community the following summer (2011) and quickly became a lightning-rod issue among the locals there. People paying excessively high rents apparently don’t care to see the less fortunate in their midst.
The 85 Delancey location, meanwhile, remained a ruin since the flight of the BRC. Towering “for rent” signs have been affixed to the facade ever since, unable to attract any tenants. That all changed within the last couple months, when a curbside dumpster arrived and interior demolition began. The Yard is on the way.
The Yard is a co-working concept, or incubator center, for local entrepreneurs looking to lease affordable workspace. In less than a year, the company quickly established itself as a go-to for start-ups (more than 250 members), serving as HQ to success stories like Hypemachine and taxi-app Uber. Growth required an additional location, so the Yard settled on 85 Delancey. And it’s gonna be monstrous.
We spoke with Yard PR dude Andy Smith who tells us that this flagship branch is pulling out all the stops. It’ll utilize both floors in the building, and include a rooftop lounge; ground level will house a homegrown coffee shop, while the workspace is up one flight. With regard to the latter, members have a choice of services between private suites or an open communal area. Payment and occupancy is on a month-to-month basis.
And then there’s the continuing education component. The Yard is offering various courses that are available to the public and for members at a discount. Classroom curriculum ranges from business and blogging to technology workshops. Subjects like intro to Kickstarter, HTML5, or the art of the “cold call.”
When asked about why the Yard chose the Lower East Side, Smith noted that there’s an abundance of ambition (i.e. hustle) and creative types in this “stalwart” neighborhood. That it’s “not going anywhere.”