By Brian J. Pape, AIA, LEED-AP
Facing backlash from Community Board 2 (CB 2) on earlier plans that called for a larger building and an LGBT center, the developer has submitted construction plans for a set of buildings about half the size and with a five-story building that will have senior-supportive housing.
According to permit applications filed with the city’s Department of Buildings, the project will feature 12 condo units and five connected townhouses that will range from four to five stories, and include 20% affordable units.
Because the new building is not in a historic district and the new plans are within “as-of-right” limitations, the designs will not need to get the approval of Landmarks or CB2 agencies. And because the new apartments and townhouses will maintain the scale of the existing neighborhood, this could be considered a victory for the CB2 and the community.
The investment firm Oaktree Capital Management provided Property Marketing Group with a $42.8 million construction loan for the condominium and the five attached townhouses, according to The Real Deal.
The city rezoned the block from manufacturing to residential in 2006. But the recession ultimately derailed earlier plans, and all the properties were sold in 2012. Property Markets Group picked up 111 Leroy and the corner lot at 621 Greenwich for a combined $38,176,272 last year, then purchased air rights from a townhouse next door on Morton Street and from a 12-story commercial building at 627 Greenwich Street.
Workshop/APD Architecture here in Manhattan is the architect of record for the new development.
