Phase 2 of Essex Crossing will Break Ground in June with More Affordable Housing

Posted on: February 17th, 2017 at 5:00 am by

essex-crossing-gateway-2_wm

Essex Crossing is firing on all burners. Full throttle. Two of the four new buildings are topped out, with the balance reaching skyward each day; the 24-story “Gateway” (Site 2) and 242 Broome Street condos (Site 1) are currently sporting some major heft.

But this is a rolling process, and, recent progress notwithstanding, sights are already set on next summer. That’s when work is slated to begin on the second phase of development. Included in this window are the new mixed-use projects for SPURA Sites.

The Essex Crossing team briefed the community at a CB3 meeting Wednesday night, with the big news that plans for the next phases just shifted.

Isaac Henderson of Delancey Street Associates – the developer consortium – explained how the overall composition is shifting. At its conception, Essex Crossing was primed to include a total of 1,000 new apartments, half of which would be permanently affordable for low- and middle-income tenants. Also included were 157 condos for purchase, 32 of which are affordable. Yet, since the plans were deeply dependent on the 421-a tax abatement program, a change needed to be made; the state tax scheme expired over a year ago.

Due to these tax-break complications, the changes resulted in a sum total of 1,078 units across Essex Crossing. The affordable housing stock also rises – up 61 units to 561. The additional 17 apartments are market-rate. Percentage-wise, the developers are quick to champion that the whole project is now 52% affordable.

essex-crossing-sites

Here are the vitals for the new construction:

Site 8

  • Was condos; now senior housing.
  • 92 studio apartments (350 square-feet); 100% affordable.
  • Demolition and ground-break begins in June.

Site 4

  • Mixed-use rental building.
  • 50-50 affordable to market-rate ratio.
  • Demolition and ground-break begins in June.

Site 3

  • Was rental building, now market-rate condo building.
  • No affordable housing.
  • Demolition and ground-break begins toward the end of the year.

Site 9 (part of Phase 3)

  • Was condos, now 50-50 split between affordable (35 units) and market-rate apartments.
  • Work won’t begin here until the Essex Street Market is fully ported to the Market Line at Site 2 in June 2018.
  • Anticipated start date is fourth quarter of 2018; online in 2021.

Site 10 (part of Phase 3)

  • Market-rate condo building.
  • No affordable housing.

Recent Stories

Grave Marker Fund for Homeless Man Beaten to Death on the Bowery Last Year

It’s been exactly one year since the city was rocked by the fatal bludgeoning of homeless men on the Bowery while they slept. Of the five beaten by 24-year-old attacker Randy Santos, four ultimately died – Chuen Kwok, Anthony Manson, Florencio Moran, and Nazario Vasquez-Villegas. In the days that followed the murders, elected officials and nonprofits held […]

Fridays Under $40: Scared with a Sandwich

In our Friday column, “Fridays Under $40,” Boogie writer Sara Graham again hits the streets to find cheap eats and affordable things to do during these weird times. In this edition, we’re staying inside for under $40. After I returned from a trip to Delaware to see my parents for the first time in almost […]

And then There’s this Apartment with a Tub in the Kitchen

The standard pre-war tenement layout included a bathtub in the kitchen. It made sense, as this was the central location of plumbing. The phenomenon began with the advent of plumbing in city tenements between 1901 and 1905. With bathhouses no longer necessary to wash up, the kitchen became central. The tub here made sense given […]

International Center of Photography to Reopen Next Week

The International Center of Photography is reopening in one week. Sidelined for more than six months (almost immediately after its debut at Essex Crossing), the 40,000 square-foot museum and school is making its galleries and gift shop accessible to the public. On tap are four exhibitions to “address this tumultuous time, marked by the effects of […]

Secondhand Bookstore Comes to Orchard Street

And today, in news out of left field… There is a secondhand bookstore coming to the Lower East Side. Down at 47 Orchard Street, the former home of Anna Sheffield’s eponymous jewelry boutique. The new store is as yet untitled, but will feature used books, vinyl records, and assorted antique. “I have a large collection […]