Sign of the Times? Glenwood Plots New 25-Story Development Near Lincoln Tunnel

330 Sign of the Times? Glenwood Plots New 25 Story Development Near Lincoln TunnelCould it be true?

Luxury landlord Glenwood has filed plans with the city to build a 25-story rental apartment development at 330 West 39th Street, in one of the few new, non-institutional, new-building filings in recent memory.

It’s also Glenwood’s first new project planned entirely after the recession began, though it will rise right across from Glenwood’s soon-to-be-completed Emerald Green, at 320 West 38th Street.

“We have confidence in the local market and we hold long term,” said Glenwood executive vice president Gary Jacob. “So even if the market is weak, we feel in the long term it will be a good investment for us.”

The plans, which still need city approval, call for a 206,735-square-foot, 199-unit apartment house on what is now a parking lot that sits wedged between buildings on 39th Street, between Eighth and Ninth avenues, stretching  through to 38th Street.

The Stephen B. Jacobs group, the same firm that designed the Edge and be@schermerhorn, is the architect on the project, which will include about 40 affordably priced rentals.

drubinstein@observer.com