Tribeca will be getting a huge lift in housing units soon with a 402-unit mixed-use building slated to be developed by Edward J. Minskoff Equities. The Department of City planning gave its nod to the project Wednesday, and it’s expected to go before the City Council soon.
According to literature released by Minskoff, the building will be of variable height: Along Greenwich Street it will rise up 101 feet for a total of six stories; its Murray Street component will feature 10 floors for a height of 139 feet; a condo tower will rise 382 feet over West Street, for a total of 30 floors; and Warren Street will see eight floors for a total of 134 feet.
This site was originally slated to be developed as a nearly-600-foot office tower, but after the Sept. 11 attacks its scale was decreased.
There will be an approximate total of 230 condo units and 162 rental units, of which 81 will be reserved for affordable housing (with 60 percent of these set aside for “moderate income” tenants and 40 percent for “low income” tenants).
As part of a deal worked out with Community Board 1 earlier this year, Minskoff agreed to contribute $7.5 million to the Parks Department for maintenance of Washington Market Park, located a block north of the development site, and $3 million toward a nearby community center.
Minskoff also reduced the height of part of the building at the community board’s request to produce less shadow on P.S. 234, located across Warren Street.
Whole Foods has signed up to occupy 55,000 of the development’s 170,000 square feet of retail space, so downtown will finally be getting some high-quality food out of the bargain (try the sticky buns, they’re our favorite).
Construction, if the City Council approves the fully privately funded project, will begin on mid-October 2005, with a fall 2007 completion date.
– Matthew Grace