Checking in on the activity at the southwest corner of 14th Street and Avenue C...
Ten months later (since the last EVG update on Nov. 1, 2016), crews are still in the foundation stage...
Perhaps they're combatting the elevated groundwater levels here that have impacted the other developments (here and here) along East 14th Street.
As for the new development, here's a rehash of the info I received on the project last September:
Madison Realty Capital (MRC), an institutionally-backed real estate investment firm focused on real estate equity and debt investments in the middle markets, provided a $52.0 million first mortgage loan for the acquisition of a development site in the East Village and construction of an approved 76,259 square foot mixed use development on the site.
The plans for 644 East 14th Street include 50 residential units, 8,064 square feet of retail space with 200 feet of frontage on 14th Street and Avenue C, and 21,575 square feet of community facility space.
The property is located at the corner of 14th Street and Avenue C, along the Northern border of the East Village and directly across the street from Stuyvesant Town. Residential units will offer contemporary finishes and large balconies with East River views. The borrower is currently finalizing a lease with a major New York hospital to occupy the entire community facility portion of the new building.
The East Village is now attracting young professionals and families, in addition to the artists, musicians, and students that established the neighborhood's cultural identity. The area has retained its strong character and remains a dynamic hub of popular bars, restaurants, and shops, with East 14th Street being one of the liveliest commercial corridors.
Previously on EV Grieve:
Development back in play for East 14th Street and Avenue C
More details on the sale of 644 E. 14th St.
Here comes a 15-story retail-residential complex for East 14th Street and Avenue C
Prepping the former R&S Strauss auto parts store for demolition on East 14th Street and Avenue C
City OKs 15-story mixed-use retail-residential building on 14th and C
14th and C now waiting for the Karl Fischer-designed 15-story retail-residential complex
14th and C still waiting for its Karl Fischer-designed retail-residential complex
Report: New owners for the empty lot at 14th Street and Avenue C
3 comments:
"The East Village is now attracting young professionals and families, in addition to the artists, musicians, and students that established the neighborhood's cultural identity."
There have been families here for a century. Those musicians, artist and current families are holding on for dear life as developers and giant Realestate corps keep threatening their homes. Until the city get's serious about urban planning instead of "only the strong will survive" policy it promotes there will be no "cultural identity" left in this city.
MRC same outfit that lends to Toledano and Singer
@10:57 REBNY agitprop.
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