It Takes a Village
One of the lingering concerns over the NYU rezoning of its two superblocks—besides whether it not it was The Final Nail in the Village’s coffin—was the fate of 505 LaGuardia Place, one of the three 30-story concrete sentinels that makes up the I.M. Pei-designed Silver Towers.
The other two are faculty apartments, but this one is Mitchell Llama public housing, and the lease with NYU was set to expire in 2014, at which point rents could jump to market rates, possibly driving out long-time residents, many of them elderly. According to local Councilwoman Margaret Chin’s office, NYU has agreed to provide 505 LaGuardia with the old lease agreement in perpetuity. The pols who fought for this agreement, along with the tenants benefiting from it, are naturally ecstatic, as made clear in their quotes below.
The boom is back on the Far West Side.
In addition to the Related Companies and Brookfield’s work at Hudson Yards, and now Extell’s reappearance on the scene, Larry Silverstein is moving forward with a new 60-story residential tower on West 40th Street, according to The Real Deal. It will be on the same block as Mr. Silverstein’s twinned Silver Towers, which also rise to 60 stories, which should make for an interesting trio on the skyline.
Earlier this week, The Observer noted an apparent lack of new condo development in the city, which could put a strangle-hold on supply and cause housing prices to shoot up. It seems unlikely, due to greater market forces–shadow inventory, foreclosure problems, stalled construction–but one place that could indeed see an impact is the rental Read More
Purple People Eaters
We’ve had fights for midtown’s skyline and downtown. Now, let the battle for the Village’s commence.
Earlier today, New York University filed plans with the Landmarks Preservation Commission for the Grimshaw-designed fourth tower at I.M. Pei’s Silver Towers site, the centerpiece of the campus’ 2030 expansion plan. After sweet talking locals for Read More