Wednesday, July 31, 2013

$250M NY Proton Center to be Built on East Harlem Site

It isn't easy to find a location in Manhattan for cancer-fighting equipment so huge that it takes an entire city block to house it. After years of planning, Manhattan's proton beam consortium has finally found just the spot for their $250 million proton beam therapy center. The New York Proton Center will soon be ready to break ground on an entire city-owned vacant block between East 126th and East 127th streets in East Harlem. The 241,000-square-foot structure is slated open at the end of 2016

The building requirements for proton beams are complex, given the mammoth size and weight of the equipment involved: four mobile gantries, a fixed-beam unit and special radiation shielding.

The focused beam needs a rectangle of about 40,000 square feet, so that the protons can run in a straight line to better treat patients. To protect the treatment area, the building must be enclosed in a massive cast of concrete.

The New York Proton Center is backed by some of New York's foremost cancer centers. The hospital consortium consists of Memorial Sloan-Kettering Cancer Center, Beth Israel Medical Center, NYU Langone Medical Center, Montefiore Medical Center and Mount Sinai Hospital.

The project is being developed and managed by Florida-based 21st Century Oncology. The hospitals hope to collaborate on research and collectively treat 1,500 patients annually.

Presently, cancer patients have to travel to Philadelphia or Boston for the increasingly popular proton therapy treatment.

Proton beam technology allows radiation to be emitted in precisely focused cancer-killing doses. It is used most commonly to treat prostate cancer and tumors whose treatment with other methods would threaten nearby healthy tissues and organs. But finding a home for the proton beam center has proved challenging.

Originally, the consortium focused its efforts on 621 W. 57th Street, with construction slated to begin in February 2011 and the center ready for patients in early 2014.

At the time, the building was conceptualized as having 11,670 square feet of retail space on the ground floor, a two-level underground garage and two levels of medical office space.

Tuesday, July 30, 2013

Two Cooper-Clad Towers To Rise on First Ave

The 9.2-acre former ConEd site on First Avenue between 35th and 41st Street will be an eyesore no more. Two luxury rental towers, developed by JDS Development, will rise along the FDR Drive on a site that has sat empty for more than a decade. The curving, copper-clad buildings will be the stars of the East Side, according to the developer. The 49- and 40-story towers at 616 First Avenue will hold 800 new high-end rental units and be connected by a sky bridge that has an indoor pool and lounge. The first shovels hit the ground in mid-July, and the buildings should be complete by 2016.

The story of these towers actually began way back in 2000, when developer Sheldon Solow partnered with the Fisher Brothers to purchase the three parcels from ConEd for $600 million.

The partnership eventually fell apart and Solow went it alone, demolishing the ConEd buildings and cleaning the site. He finally won approval for a 7-building development, but that went nowhere.

Things have been quiet for a few years, until Solow sold one of the parcels to JDS Development last year. The developer is now in talks to acquire the two remaining parcels.

Since the site has been rezoned for mixed-use, the towers are rising as-of-right. Located just a block from the East River, the site flooded during Hurricane Sandy, so mechanical systems are being placed on the second floor.

JDS wants to install eight-foot floodgates in addition to backup generators and special outlets in every unit that would still work during a blackout.

The rooftop will feature an infinity pool, fitness center, squash court, and boxing gym. Other amenities include a movie screening room.

The development will also have an elementary school (opening this fall) and a public park, which still awaits City Planning's approval.

Monday, July 29, 2013

SUV Crashes into Second Ave Subway Construction Site

A Honda CRV crashed into the Second Avenue subway construction site Sunday after being broadsided by an SUV that ran a red light at East 95th Street just after 2:30 p.m Sunday. 

The impact sent the silver CR-V sailing into the construction site, where it sank head-first into the chasm and was nearly swallowed up.

The FDNY says one person was taken to New York Hospital with minor neck and back injuries, while another refused medical attention.

The driver of the Toyota SUV refused medical attention and was ticketed for driving with a suspended license and running a red light, police officials said.

The Second Ave. subway line has been under construction since 2007.

Friday, July 26, 2013

Trinity Church to Build Condo Tower Next to AMEX

Trinity Church has decided to knock down its 90-year old administrative office building at 68-74 Trinity Place to make way for a new 350,000-square-foot, 32-story mixed-use tower to be designed by Pelli Clarke Pelli Architects. The new building will include a seven-story base dedicated to church activities and offices, topped by a 25-story residential tower that will pay for the project and help keep the church coffers full.

Nestled amid the towers of the world’s biggest banks and finance companies, Trinity Wall Street, a relatively diminutive neo-Gothic structure built in 1846, might seem quaint.

But with assets estimated at more than $4 billion -- thanks to a colonial land donation dating back to 1705 --Trinity Church is right at home with its wealthy neighbors.

Though its bank account would be the envy of most congregations, it is generating internal strife since the church must now decide how to best deal with its considerable real estate holdings.

The source of tension is the building code of its 90-year-old administrative office at 68-74 Trinity Place. Faced with a $33 million price tag for building-related work aimed at meeting 2018 code compliance, the church has decided to raze the existing structure and build a new, fully-compliant one for an estimated $250 million.

The church board voted on Wednesday to move forward with the project instead of embarking on a renovation of the two buildings that currently sit on the site.

The new structure will include a six or seven-story base dedicated to mission activities and related offices, topped by a 25-story residential tower, said a church spokesman, noting that "it will provide a source of revenue for the expansion of the church’s core ministry activities, which include philanthropic grant-making and homeless outreach."

The entrance to the residential tower will be on Greenwich Street, while the entrance to the church space will be on Trinity Place, with access via an existing pedestrian bridge across Trinity Place.

It will house a parish hall, facilities and offices for Trinity’s expanding ministry, the Sunday school and rooms for community organizations.

Pelli Clarke Pelli beat out a competing bid from Cook/Fox to design the building.

The next step in the process is the selection of a developer, said Trinity Real Estate President Jason Pizer, who anticipates a groundbreaking in the summer of 2014, and completion in 2017.

Thursday, July 25, 2013

Rockefeller University Plans Expansion over FDR

Space-starved Rockefeller University has asked permission from the city to construct a canopy over the highway that would span from about 64th to 68th streets, where a two-story research building with a landscaped green roof on top and a 300,000 square-foot conference center would sit. Such expansion is not unheard of—the university is sandwiched between highway platforms built by the United Nations and Weill Cornell Medical Center. The school has tapped star-architect Rafael Viñoly, of 432 Park Avenue fame, to head the project.

Rockefeller University, which stretches from East 62nd to East 68th streets along York Avenue on the Upper East Side, is preparing plans to grow, but with no space left on its campus, the school has come up with a tried and true solution: building new facilities on a deck the school would build over the FDR Highway.

Founded by John D. Rockefeller in 1901 to promote medical research, the school plans to construct three new buildings.

As the university has done in the past, two of those buildings, a one-story conference center and a two-story research building boasting a green roof and rooftop pavilions, would be constructed atop a platform over FDR Drive.

Extending approximately four blocks from East 64th Street to East 68th Street, the new platform would join two other Rockefeller buildings straddling the highway, stretching from 62nd Street to 64th Street. The third new building, an athletic center for students, would replace a faculty parking lot in the northwest corner of campus.

"The new building is critical to maintaining the university's excellent standards for research and teaching, by allowing for the recruitment of new faculty to replace those lost by attrition, and for the renewal of laboratory space that is outdated and poorly suited to modern science," said a spokesperson.

“The low-rise buildings would not impede views of or from Manhattan, nor would they expand the university's size "in terms of personnel or activities."

This is thanks to an innovative design from local architect Rafael Viñoly, where the two-story building will actually be built into the platform, so that the roof is level with the rest of the campus. This will create a larger quad without taking up space on the expanded campus. Whether the older research buildings will be replaced or redeveloped is still being determined.

This is the not the first time the university has expanded over the busy highway below. In 1987, a dormitory building opened atop a platform over the southbound lanes of the FDR between 62nd and 63rd streets. Five years later, a new research building was finished over both lanes of the highway at 64th Street. The new platform will extend from there all the way up to the northern edge of the campus.

Although Rockefeller University owns the air rights, the university still requires approval from city agencies. The school has yet to release a completion date or price estimate for the project.

Wednesday, July 24, 2013

Daring Design for Related's New High Line Condo

The Related Cos. is preparing to construct a unique 11-story residential property at 520 West 28th Street overlooking the elevated High Line Park. The building will include 37 residences, including a 5,500-square-foot penthouse. All will boast state-of-the-art features worthy of the cutting-edge architecture, as well as more old-school amenities, like 11-foot ceilings and private elevator landings. The curvaceous condo will join a growing number of daring designs constructed, or presently under construction, in the West Chelsea area.

The developer has announced it has selected Zaha Hadid, the Iraq-born, British architect, to design the new condominium project.

Wrapped in looping bands with floor-to-ceiling glass that create balconies overlooking the renowned former railroad trestle, the development is the first building in New York by the only female winner of architecture's highest honor, the Pritzker Prize.

"We are proud to partner with Zaha Hadid Architects and to continue Related's commitment to the very best in urban architecture," Related CEO Jeff Blau said in a press release. "This development will be truly unique within the city's architectural offerings, and will pave the way for future architectural achievements on Manhattan's West Side."

The High Line has already attracted many such stand-out pieces of work, including Frank Gehry's headquarters for IAC, The Standard Hotel, Jean Nouvel's 100 Eleventh Avenue, and HL23, which cantilevers over the park at 23rd Street.

Two years ago, the Bloomberg administration announced that the linear park had generated more than $2 billion in private economic development on a public investment of only $150 million.

Since then the economic impact has grown substantially, especially as Related continues to move forward at Hudson Yards with buildings from some of the world's top designers.

The building will include 37 residences with floor-to-ceiling glass walls and wrap-around terraces, as well as a 6,500-square-foot ultra-luxury penthouse suite with an indoor/outdoor pool and spa.

All the building's units will boast state-of-the-art features worthy of the cutting-edge architecture, as well as more old-school amenities, like 11-foot ceilings and private elevator landings.

Ms. Hadid won the Pritzker, often called "architecture's Nobel Prize," in 2004, and has come to be known for her sometimes jagged, sometimes curvaceous, always unusual buildings that could have been transplanted from the world of Blade Runner.

She is best known for her design of the Olympic Aquatics Center built for the 2012 Summer Olympics in London.

Monday, July 22, 2013

70-Story Tower to Rise near World Trade Center

Fisher Brothers has announced it will develop one of the city’s tallest residential buildings, at 22 Thames Street, to rise next to the former American Stock Exchange and a block from the World Trade Center. The thin, rectangular building, slated to open in spring 2017, will have 450 residential units. The new tower will either soar 1,100 feet at 85 stories or 960 feet at 70 stories.  The developer has applied for a variance to build it at the lower height and make up for the loss of square footage by providing shallower setbacks than zoning allows.

A shorter, wider structure would be less costly to build, Fisher Brothers told Community Board 1 last week. Nonetheless, the project’s estimated price tag still rings in at over $500 million.

The lower building would not visually compete with the nearby 4 World Trade Center and the other skyscrapers on and near the WTC site, claim Viñoly Architects, the project’s designers.

The taller building, in contrast, "interrupts the rhythm of the master planning and the massing of the entire Trade Center site."

Responding to a board member’s criticism that the design was "undistinguished,” the architect indicated that there are limited design options for a building on a narrow 9,000-square-foot site.

Fisher Brother’s variance request will entail showing how the proposed building wouldn’t “disturb the essential character of the neighborhood.”

Since the project site is an "as-of-right" development, it does not require a lengthy Environmental Impact Statement or any discretionary action by the City Planning Commission.

As a lesson from Hurricane Sandy, the buildings’ mechanicals, he said, will be installed in higher floors.

The ongoing demolition of the site’s current 10-story building is now down to the fifth floor, and expected to be finished by September.

Construction of the new building is scheduled begin next spring.

Friday, July 19, 2013

Why Skanska Dropped its Membership in the U.S. Chamber of Commerce

On July 9, Skanska resigned as a member of the U.S. Chamber of Commerce to protest the organization’s backing of a chemical industry-led initiative to effectively ban the future use of LEED for government buildings. The initiative, linked to the lobbying efforts related to the Shaheen-Portman Energy Efficiency Bill , threatens to halt years of progress in energy-efficient and environmentally responsible construction.

Sustainability is one of Skanska’s core values. And we will not be a part of an organization that supports the American High-Performance Building Coalition (AHPBC), which harbors the American Chemistry Council and opposes the implementation of a new, stronger LEED certification program.

LEEDv4 encourages transparency in reporting the chemical composition of building materials, something we at Skanska think is essential for anyone wanting to build responsibly.

The LEED program is the most recognized and widely used green building program globally. It is maintained and implemented by the independent U.S. Green Building Council through a public and transparent comment and balloting process engaging a diverse group of nearly 13,000 members, who voted last week in favor of LEEDv4.

We have asked the Chamber to reconsider its support of the chemical lobby, whose anti-LEED stance would:

  • Significantly undermine the LEED program
  • Impact more than 196,000 LEED Accredited Professionals
  • Cripple the progress of environmentally responsible construction across the country.

The Chamber is on the wrong side of this issue, and its support of the AHPBC is misplaced as well as misguided. The U.S. Chamber of Commerce was created to advocate for pro-business policies that create jobs and support our economy. The numbers prove that LEED and green building do just that. Because a few companies don’t like the current LEED program, they want to involve the government and create an entirely new system for government buildings. This is exactly the kind of redundancy and bureaucracy that we pay the Chamber to fight.

Michael McNally
President & CEO
Skanska USA

Wednesday, July 17, 2013

Mega Development Heating Up on Far West Side

Only a few times in modern Manhattan history has an entirely new office district sprung up all at once. In the 1930s, there was Rockefeller Center; the 1970s saw the World Trade Center complex; and today, developers are planning nearly 15 million square feet of new office space in the Hudson Yards area in the 30s on the Far West Side. TheElectricWeb looks at eight of the mega-towers which will be rising over the next twelve months.

The new projects include the Related Companies’ North and South towers at Hudson Yards, Extell Development’s One Hudson Yards, Brookfield Office Properties’ Manhattan West and Moinian’s 3 Hudson Boulevard, as well as Sherwood Equities’ 447 Tenth Avenue and Alloy Development’s 450 Hudson Park Boulevard.

But before starting construction on these new towers, developers must first land an anchor tenant willing to take at least 400,000 square feet of space.

But many companies are reluctant to move to newly constructed buildings, especially in an untested neighborhood. For most companies, it’s cheaper to stay in place and renovate, while others fear that moving out of prime Midtown, with its bevy of transportation options, will cause them to lose employees.

Despite these challenges, the developers appear to be beating the odds...

Hudson Yards - South Tower
Developer: Related Cos / Oxford Properties
1.7 million square feet  
Expected delivery: 2016

Hudson Yards -North Tower
Developer: Related Cos / Oxford Properties
2.4 million square feet
Expected delivery: 2018

In the most highly anticipated project on the Far West Side, Related and Oxford Properties have teamed up on a $15 billion, 26-acre Hudson Yards mixed-used project. Last month, Related made major headway on the project when it inked a 99-year, $1 billion lease for the eastern portion of the Metropolitan Transit Authority’s rail yards, which stretch from 30th to 33rd streets and from 10th to 11th avenues.

Construction started in December on the South Tower, which is located at 501 West 30th Street and is the first building planned for the parcel. It took more than three years to lure Coach, which ultimately purchased a 740,000-square-foot commercial condo from Related. (As part of the deal, Related agreed to acquire Coach’s building a block north at 516 West 34th Street.) Now, the South Tower is more than 80 percent leased (including expansion options), with L’Oreal in contract to occupy 402,000 square feet and SAP having signed a lease for 115,000 square feet.

Related will have to do it all over again with its second, larger building, the North Tower. Adding to the challenge is that the North Tower, designed by Kohn Pedersen Fox Associates, will rise on an 8.6-acre platform covering active Long Island Rail Road tracks. Construction on the $750 million platform will also provide a foundation for several other buildings.

But Related has said construction on the platform will start in January. That would allow for delivery of the building in 2018, as long as an anchor tenant is in place, he said.

As a selling point, Related is highlighting the large footprint of the North Tower, which financial firms could use for trading floors. Plus, the skyscraper will be adjacent to a planned 500,000-square-foot retail building, which Related hopes will allay tenants’ concerns about being isolated on the Far West Side with few food and shopping options.

To sweeten the pot, Related is also offering to swap properties or sell portions of the building as commercial condos, as it did with Coach. Related has also offered that the first companies that sign on for space will get in “at cost.”

Related pegged the asking rent for the North Tower at $90 per square foot and the price for a condo sale at between $900 and $1,100 per foot, for a hypothetical 1 million square feet.

Manhattan West - North Tower
Developer: Brookfield Office Properties
2.2 million square feet 
Expected delivery: 2016

Manhattan West - South Tower 
Developer: Brookfield Office Properties
3.2 million sq ft, 
Expected delivery: 2017

Brookfield first announced the Manhattan West project more than five years ago during the real estate boom. Designed by Skidmore, Owings & Merrill, the project would also sit atop railroad tracks, requiring a platform to cover them.

Like many projects dreamed up back then, Manhattan West was halted during the downturn. Then in 2011, the plans were dusted off and reintroduced, with a cheaper platform that would be built more quickly. But after being on the market for nearly two years — longer than any other project except Related’s — Manhattan West still has not landed an anchor tenant. Furthermore, the towers have evolved from a commercial-only concept to one that could include residential as well.

Despite not having a tenant, Brookfield plans to begin construction of the $300 million platform in August, with completion set for October 2014.

Brookfield has largely finalized the design of the North Tower, but could build it or the larger South Tower first, or even both simultaneously, depending on the anchor tenants’ needs.

Real estate executives not involved with Brookfield’s project said Time Warner is looking closely at the two towers, as well as at Related’s project.

We have the best location,” says Jeremiah Larkin, senior vice president and director of leasing at Brookfield, noting the project is just a block from Penn Station.

3 Hudson Boulevard
Developer: The Moinian Group
1.8 million square feet
Expected completion: 2016

Some consider the Moinian Group’s 3 Hudson Boulevard to be the best-positioned of the Far West Side’s new buildings: It sits on top of the No. 7 subway station and across from the Jacob K. Javits Convention Center.

Another advantage to the FX/FOWLE Architects–designed project is that “you are not on a platform, you are on bedrock.” said the developer, pointing out to potential tenants that “no water got anywhere near this site during Hurricane Sandy. Yet, you are on the Hudson River with water views.”

Like Related did with Coach, Moinian will look for prospective tenants that would want to sell their existing building in exchange for a condo unit at 3 Hudson Boulevard.

Asking rents in the 1.8 million-square-foot building are currently $85 per square foot, according to Moinian, but ultimately, “We hope to achieve in excess of $100 per foot in the tower.”

1 Hudson Yards
Developer: Extell Development
1.75 million square feet
Expected completion date: 2017

Extell Development owns a parcel at 34th Street, just south of Moinian’s. Gary Barnett is planning to construct 1 Hudson Yards, a 1.75 million-square-foot office building, on the site. But construction will not start until a tenant has committed to take at least 400,000 square feet of space.

But the MTA is readying the foundation for the Extell site as it builds the new No. 7 subway station, which gives the project “a running start” in terms of “speed to market and certainty of delivery.”

Extell has a reputation as a prolific residential and commercial builder, and is currently completing the 748,000-square-foot Gem Tower office building at 50 West 47th Street in the Diamond District.

But this parcel, like Moinian’s, is located on 11th Avenue, which could make it more difficult to lure tenants. However, the site is located in the heart of the Hudson Yards district

And unlike the multi-towered Related and Brookfield sites, which some tenants worry could be under construction for years, the Extell project is just one building.

450 Hudson Park Boulevard
Developer: Alloy Development / Boston Properties
1.1 million square feet
Expected completion: 2017

Alloy Development is far less well-known than its competitors, and its site is the smallest of those now vying for tenants.

Alloy assembled the site — west of 10th Avenue between 35th and 36th streets — in 2007. The location has been cleared and stands ready for a tenant, but there’s no set development plan in place, according to Alloy president Jared Della Valle, an architect and developer.

Brooklyn-based Bernheimer Architecture drafted a rendering, but the design was created to give tenants an idea of what the site could look like, and is not an active plan..

“Our opportunity is more build-to-suit,” said Della Valle, noting that the building can support floor plates as large as 48,000 square feet at its base.

Della Valle is working on plans for the project with large office owner Boston Properties. The two are each looking for a large tenant for the site, which Alloy could develop in partnership with Boston Properties.

447 Tenth Avenue
Developer: Sherwood Equities
2.5 million square feet
Expected completion: 2017

Midtown-based Sherwood Equities owns three parcels in the Hudson Yards area. But much like Alloy, it is less well-known than most of the other Far West Side developers. Sherwood is planning an office tower at 447 10th Avenue at 34th Street on a site it’s owned since 1986. Its other two, smaller sites in the district, will likely become residential or mixed-use towers.

But the firm is in a hurry to start construction on the massive office project, stating they expect rents in the area to rise dramatically once tenants start moving in to other new buildings.

Sherwood is nonetheless on the lookout for tenants in need of large chunks of space. Sources said the firm responded to an inquiry from Time Warner about potentially taking space at 447 Tenth Avenue.

Monday, July 15, 2013

New York-Presbyterian Scales Back Development Plans

One of the nation's best hospitals doesn't have enough money to go forward with plans for a new maternity ward. New York-Presbyterian Hospital announced in July 2012 plans to build an eco-friendly, 15-story building on York Avenue, between East 68 and 69th streets, that would house an ambulatory care center and maternity facility. But one year later, officials there said they now only have money for the ACC.

The scaling back was first mentioned at a Community Board meeting on July 11 and later confirmed by New York-Presbyterian.

Ellie Dalton, vice president of facilities at New York Presbyterian, said that the hospital would start with the ambulatory care center and "if and when we have additional fundraising, we will then proceed with the maternity hospital."

See ElectricWeb | Bogger, Mar 24, 2013 ]

A hospital spokesperson explained that funding is "in place to move forward" with construction of the ACC, but plans for the maternity program will be temporarily suspended.

The building will still be developed so that maternity programming can be brought into the space — if the hospital can raise enough cash.

"We will incorporate the maternity services component into the design and infrastructure so that should funds become available." Officials did not share specifics about the costs needed to build the maternity ward.

New York-Presbyterian Hospital — which is nationally recognized and ranked No. 1 in the city and metropolitan area — previously said the forthcoming facility would include 12 operating and 12 endoscopy rooms as well as private rooms for mothers and newborns.

The expansion will replace two residential buildings, which mostly house hospital staff. Asbestos removal, which these buildings must undergo before demolition, will begin August 1.

Friday, July 12, 2013

Chelsea Developer to Build Two New Hotels for $750M

Developer John Lam is at it again. He recently purchased a parking garage on West 25th Street from Extell Development that he plans to raze and replace with a $350 million, 270,000-square-foot hotel tower. The block-long site just west of Sixth Avenue is the second building that Mr. Lam is planning to erect in the area. Next year, he aims to break ground on a $400 million, 450,000-square-foot hotel that will stretch along Broadway from West 29th to West 30th streets.

"The neighborhood is very exciting," Mr. Lam said, referring to the once gritty area north of Madison Square Park that in recent years has begun to blossom with the arrival of a number of trendy hotel and nightlife venues, including the Ace Hotel and the NoMad.

Mr. Lam said he plans to spend $350 million to develop a high-end hotel on his latest building site at 110 West 25th St. just west of Sixth Avenue.

 And he is familiar with the neighborhood. In recent years he developed a successful Four Points Hotel just down the block at 160 West 25th Street, an affordable hotel brand operated by Sheraton.

On Broadway, between West 29th and West 30th Streets, Mr. Lam will also spend upwards of $400 million to build another new hotel, which he intends break ground on early next year. He said he has reached a deal with Virgin Hotels to open its first U.S. hotel at the property.

[ See ElectricWeb | Blogger, Nov 24, 2012 ]

Additionally, he is in talks with another hotel operator to manage a second hotel at the property. Each hotel would occupy separate portions of the building and manage their spaces individually. The new building will rise in place of four adjacent properties, located at 1205, 1225 and 1227 Broadway, and 846 Avenue of the Americas.

The project will create about 750 hotel rooms, 400 of which fall under the Renaissance brand and the remaining 350 under Aloft.

The property will also boast more than 50,000 square feet of retail space on the lower three floors, which will be the largest new store space in the neighborhood.  "It's going to be a small shopping mall," Mr. Lam said.

The West 25th Street project, which Mr. Lam said will also begin construction early next year, will have less retail space, all of which will be on the ground floor.

Wednesday, July 10, 2013

Lease Proposal to Preserve Public Housing (Last in series)

NYCHA's Proposal to Preserve Public Housing would lease 14 parcels of land, located within eight city housing developments, to private developers who would finance, construct, and operate the new residential buildings. The income generated through the land leases would be dedicated to building improvements at the eight developments and other public housing properties citywide. 80% of the apartments will rent at market rate, while 20% would be permanently affordable to low-income residents.

The plan would generate between $30 million-$50 million on a yearly basis. The proceeds would fund critical capital improvements that would enhance quality-of-life for NYCHA residents. Additionally, this initiative would generate approximately 800 permanently low-income housing units for eligible low-income New Yorkers. NYCHA residents would receive a preference for the low-income units.

New development will provide additional benefits to public housing residents including construction and permanent job opportunities; security enhancements to NYCHA buildings; and alternative power for elevators, heat and hot water service during blackouts and other emergencies.
In this final installment, TheElectricWeb takes a closer look at NYCHA's 'Land Lease Opportunities to Preserve Public Housing.' Today we direct our focus at proposed development sites at the Baruch Houses and the Alfred E.Smith Houses on Manhattan's Lower East Side.

Bernard M. Baruch Houses
Is the largest NYCHA development in Manhattan, has 17 buildings, some 7, 13, and 14-stories high. Baruch Houses was completed June 30, 1959 and is on 27.46-acres in Lower Manhattan. The complex has 2,193 apartments housing an estimated 5,367 residents.

Baruch Houses has a $251 million unmet need for capital improvements over the next 5 years. Baruch Addition has as $13 million unmet need for capital improvements over the next five years.

East Houston Street Development Site:
   Site Area: 26,200 SF
   New Construction: 350,000 SF
   210 New apartments
   20% will be available to low-income households

Present Use of Proposed Site:
    54 Parking Spaces
    Basketball & Handball Courts

Benefits for Residents:
    Central Plaza redesign
    Preference for new low-income apartments
    Emergency power generation for critical building systems
    Temporary and permanent job opportunities
    Enhanced security for development


Governor Alfred E. Smith Houses 
This complex in Lower Manhattan has 12 buildings: 15, 16 and 17-stories tall, with 1,931 apartments housing some 4,316 people. The 21.75-acre complex was completed in 1953.

The Alfred E. Smith Houses has a $227 million unmet need for capital improvements over the next five years.

Development Sites:
    South Street: 55,000 SF
    Robert Wagner Pl: 19,000 SF

New Construction:
    1,365,000  SF of Residential
    1550 New Apartments
    20% available to low-income households
Present Use of Proposed Site:
    116 Parking Spaces
    Garbage Compactor Yard
    Paved Baseball Field
    Basketball & Handball Courts

Benefits for Residents:
    Preference for new low-income apts
    Emergency power for building systems
    Temporary & permanent jobs
    Enhanced security for development