Back in 2011, AvalonBay abandoned plans to build a 44-story, 700-unit rental building on the block south of West 57th Street between Eleventh and Twelfth Avenues. TF Cornerstone was rumored to be interested in the site, and it turns out the rumors were true: the Manhattan-based developer now wants to build a 45-story, 1,189-unit residential tower on the same site, according to documents filed with the Department of City Planning.
If approved, the project would contain a total of 1.2 million square feet of floorspace, with 42,000 square feet set aside for commercial use and a 550-space underground parking garage. Of the apartments, 20 percent—238 units—would be set aside as affordable housing under the city’s inclusionary zoning program. Read More