Extell's new development at 524 E. 14th St. launches lottery for 50 affordable units

[Rendering of 524 E. 14th St. looking to the west via Extell]

Extell Development announced yesterday that the application process for 50 middle-income units at 524 E. 14th St. is now underway. (H/T 6sqft!)

This is the smaller of the two retail-residential buildings that Extell constructed between Avenue A and Avenue B. No. 500 at the corner of Avenue A is the larger of the two developments, and will be home to the small-format Target store.

As for the housing at No. 524, Curbed breaks it down here:

There are a total of 50 affordable apartments up for grabs at the rental with apartments being offered in studio through two-bedroom variants. Rents start at $1,114 for a studio, which is definitely a bit on the pricier side for affordable units, but this is the East Village after all. Rents on one-bedrooms start at $1,196, and two-bedrooms start at $2,733, from the information we have so far.

The affordable rentals are being offered in two groups: people making 70 percent of the area median income and 130 percent of the area median income, which translates to anywhere between $40,080 to $124,020 depending on various family sizes.

For an additional fee, residents will also have access to amenities like a fitness center, a children’s play room, an indoor pool, a residents lounge, and a steam room.

Speaking of the pool! Here it is (complete with apparitions) ...


[Rendering by McGinley Design]

Nice, but it's no Blarney Cove Cove.

Anyway, qualifying residents can apply for the middle-income units until April 11, 2018. You can find the application and other details here (PDF).



To date, Extell hasn't released any leasing information for the other residential units.

Previously on EV Grieve:
New 7-floor buildings for East 14th Street include 150 residential units

Target offers details about its flexible-format store opening summer 2018 on 14th and A

The disappearing storefronts of East 14th Street

1st sign of Target on 14th Street

An EVG reader said yesterday that a sign for the incoming Target had arrived on the southwest corner of 14th Street and Avenue A.

I guess I was expecting something like this...



But it's more like this for now... just a sign for workers...



Right there...



In any event, as noted before, the Target small-format store will cover two levels here. Per the Target newsroom:

Merchandise includes men’s and women’s apparel and accessories, home, food (with grab-and-go selection spanning sandwiches, salads, beverages and more), health and beauty and electronics assortment.
Services offered: Target Mobile and Order Pickup.

The East Village Target has an expected July opening date.

Thanks to Steven for the photos!

You can now press your face against the windows of the incoming Target store on 14th and A

If you should want to. The sidewalk bridge, barriers, fencing, etc., have recently been removed here on 14th Street at Avenue A at Extell's new retail-residential development ...



The retail, of course, is the small-format Target store with an expected July 2018 opening date.



Previously

On Target for a summer 2018 opening on 14th Street and Avenue A

Last week, workers removed the sidewalk bridge and scaffolding at 500 E. 14th St. at Avenue A... providing a good look at the storefront that will house the Target small-format store...



According to the Target news room, the store in the base of Extell's 7-floor residential complex will open next summer. A few details via Target:

Approx. 27,000 sq. ft. over two levels.
Merchandise includes men’s and women’s apparel and accessories, home, food (with grab-and-go selection spanning sandwiches, salads, beverages and more), health and beauty and electronics assortment.
Services offered: Target Mobile and Order Pickup.

The 'commanding retail presence' of Extell's new 14th Street development

Here's how Extell's two, seven-story residential buildings going in on 14th Street from Avenue A to Avenue B look these days...



There's an updated retail listing now at RKF for the buildings noting "a commanding retail presence" here.


[RKF]

For starters, you probably know that Target is leasing 27,306 square feet in No. 500's corner space for a small-format store expected to open in the summer of 2018.

The other retail slot here features 14,500 square feet plus 1,500 square feet for a loading dock, which is on 13th Street. The price is not listed. The listing also says "Logical divisions considered" and "Space can be vented for cooking."

At No. 524, the retail space is 9,700 square feet with another 4,500 in the lower level.


[RKF]

Previously on EV Grieve:
New 7-floor buildings for East 14th Street include 150 residential units

Target offers details about its flexible-format store opening summer 2018 on 14th and A

The disappearing storefronts of East 14th Street

Report: Target takes aim at Essex Crossing with a small-format store

[Rendering of 500 E. 14th St. via RKF]

As you may recall, Target is leasing 27,306 square feet in Extell's new development at 14th Street and Avenue A for a small-format store expected to open in the summer of 2018.

That store will have some competition with itself. The Wall Street Journal is reporting that Target will also lease space in the second floor of the tower under construction at 145 Clinton St. in the Essex Crossing complex. This space will also house a Trader Joe’s.

Some details via the Journal:

Essex Crossing, which extends roughly between Stanton and Grand streets to the north and south and Essex and Clinton streets to the west and east, will have 1,061 rental and condominium apartments and include a movie theater, a bowling alley, a three-block-long marketplace and a medical facility.

A majority of the retailers that have signed for space at Essex Crossing are expected to open in 2018, offering services in an area that has been underserved, said Andrew Katz, a principal of Prusik.

Target “sees tremendous potential” in New York City, where there is a dense population and plenty of tourists, making the area one of the company’s priority markets, the spokeswoman said.

Target is using the stores to support its online shoppers, offering them the ability to order online and pick up purchases in the store within an hour. The company plans in June to test same-day delivery service from its Tribeca location, offering store shoppers the option of having their purchases delivered within a certain time frame to locations in Manhattan and parts of Brooklyn and Queens, for a fee.

Previously on EV Grieve:
New 7-floor buildings for East 14th Street include 150 residential units

Target offers details about its flexible-format store opening summer 2018 on 14th and A

The disappearing storefronts of East 14th Street

Extell's 14th Street developments are all grown up now

Let's check in on Extell's two, seven-story residential buildings going in on 14th Street from Avenue A to Avenue B... starting with a look on Avenue A toward the southeast corner...



... and from the entryway to Stuy Town...





...and looking at the end of No. 500 toward Avenue A...



... and two shots of No. 524, the smaller of the two buildings...





...and a view from the 13th Street side...



Together, the buildings will yield 150 residential units (of those, 32 will reportedly be below-market rate). The buildings will include outdoor space for tenants, such as: "gardens, ornamental grasses, a full bocce court, pergola covered dining with an open air grill kitchen, and framed hedge walls," per marketing materials.

There will also be 56,610-square feet of retail space. As previously reported, Target is leasing 27,306 square feet in No. 500's corner space for a small-format store expected to open in the summer of 2018.


[Fast-forward to the summer of 2018]

There's still a persistent rumor that a Trader Joe's will take the remaining retail space at No. 500.

The excavating started on the property in June 2015.

Previously on EV Grieve:
New 7-floor buildings for East 14th Street include 150 residential units

Target offers details about its flexible-format store opening summer 2018 on 14th and A

The disappearing storefronts of East 14th Street


[2011]

Lucky 7s: Extell's 7-story developments look to be topping out on 14th Street

Construction appears to be 7 stories above street level on the 7-story, mixed-used building under development at 500 E. 14th St. at Avenue A...





...and ditto for its sister building to the east at No. 524...



Extell is developing the two, seven-story buildings that together will offer 150 residential units (of those, 32 will reportedly be below-market rate) as well as 56,610-square feet of retail space.

As previously reported, Target is leasing 27,306 square feet in No. 500's corner space for a small-format store expected to open in the summer of 2018.


[Fast-forward to the summer of 2018, maybe!]

The excavating started on the property in June 2015.

Previously on EV Grieve:
New 7-floor buildings for East 14th Street include 150 residential units

Target offers details about its flexible-format store opening summer 2018 on 14th and A

Reader report: Construction truck takes out tree on 13th Street

An EVG reader passes along word that a construction truck working on the Extell development at 500 and 538 E. 14th St. between Avenue A and Avenue B "leveled this tree on 13th Street" yesterday afternoon. (The new building's loading docks are on the 13th Street side.)

...another view via a reader on the block...



... the tree was later cut down and mulched...

Target's plan to be your one-stop shop on 14th Street and Avenue A (and Tribeca)

[Photo on Avenue A from last week]

The so-called flexible-format Target store opened yesterday in Tribeca.

I mention this because this is the model for the specialty Target that is set to open on 14th Street and Avenue A in, oh, 2018... the store will anchor Extell's 7-story retail-residential complex...


[Photo from yesterday]

Follow the arrow to the Target...



Here's more on Target's new concept via an article yesterday in USA Today:

The new smaller-format stores are a way of reaching customers who might otherwise have trouble becoming Target stalwarts. Of the 15 new stores Target is opening this year, 14 will be the smaller, more curated models.

The Tribeca store features several hallmarks of Target’s overall strategy to become a one-stop shop for customers, including a section where shoppers can buy fresh, organic groceries, and an emphasis on merchandise categories such as wellness and fashion.

But each of the smaller stores also is designed to cater to the tastes and needs of the specific neighborhood where it is located. The walls of the Tribeca store are decorated with a graffiti-like mural that was drawn with a felt-tip marker.

In a dense section of Manhattan where people rely on the subway and taxis to get around, there is no automotive section, unlike many of Target’s larger suburban locations. (Lack of parking, in fact, is one of the store's bigger challenges.) And in a neighborhood full of professionals and young couples with babies, there are plenty of baby strollers, and smaller furniture that would better fit into tiny apartments.

As previously reported, Target is leasing 27,306 square feet at Extell Development's development. According to a report at the Commercial Observer back in August:

The lease — for 9,500 square feet at grade and 17,806 square feet below ground — is for 30 years, at which time Target could extend it for another 10 years, according to the source and the memorandum of lease. ... The asking rent was $2.5 million per year...

Previously on EV Grieve:
Breaking (pretty much!): Target is coming to 14th Street and Avenue A (54 comments)

Checking in on 500 and 524 E. 14th St., where work looks to be past the halfway mark

Workers look to be up to the fourth floor now at the incoming 7-story 500 E. 14th St., the retail-residential complex that will include the small-format Target...





And on the other side of holdout 520 E. 14th St. ... here's 524 E. 14th St. ...





And the view of No. 500 from 13th Street...



This is to serve as the building's loading dock. To minimize traffic on the side street, CB3 OK'd two, 75-foot loading zones for 224 Avenue A and 512 E. 14th St. Each zone will take away four parking spots. However, per the May CB3 meeting minutes, this is a better alternative that "will allow Extell to use commercial zones and not a residential block."

Combined, both buildings will have 150 residences. (Of those, 32 will reportedly be below-market rate.)

The retail listing at RKF for No. 500 says that tenant possession of the space is the fourth quarter of 2017.

Previously on EV Grieve:
New 7-floor buildings for East 14th Street include 150 residential units

Breaking (pretty much!): Target is coming to 14th Street and Avenue A (40 comments)

No, workers aren't dropping off the new Target store this morning on 14th and A

Big Crane Action is happening today on 14th Street and Avenue A... at the site of Extell Development's in-progress retail-residential plazaganza that will one day yield a Target flexible-format store.

Signs at the nearby MTA stop in Steiner East Village points to ConEd work...



Whatever! Just enjoy...

Target offers details about its flexible-format store opening summer 2018 on 14th and A

As you know, Target has signed a lease to anchor the retail space in Extell's new development rising on Avenue A and 14th Street.

And yesterday, Target shared details about the flexible-format store, projected to open in summer 2018 at 500 E. 14th St.

Via the EVG inbox...

Growth in urban markets is a priority for Target, and Target’s flexible store design allows for store locations in smaller locations and assortments are tailored to meet the needs of local guests. The East Village Target store will be approximately 27,000 square feet on two-levels, with 9,500 square feet on the street level and 17,700 on the lower level. The locally-relevant, catered assortment for urban guests will include:

· An assortment of men’s and women’s apparel and accessories

· Home items dedicated to refreshing small living spaces, as well as urban apartment and condo essentials

· Food selections, including grab-and-go items spanning sandwiches, salads, beverages, snacks, and more

· Health, personal care and beauty products including a multicultural assortment

· Portable technology products and accessories

· Services include Target Mobile and Order Pickup

Flexible-format stores are a priority for Target and guests have responded well to having these customized stores available in areas where they previously couldn’t have been opened before.

In a prepared statement, Mark Schindele, senior vice president, Properties, Target, said: "We’re thrilled to be partnering with Extell Development for this terrific location just below Stuyvesant Town, and we can’t wait to be part of the East Village neighborhood."

Target is only taking half of the available retail space at 500 E. 14th St. So there is room for another largish retailer.

Previously on EV Grieve:
[Updated with correction] 8-lot parcel of East 14th Street primed for new development

New 7-floor buildings for East 14th Street include 150 residential units

Breaking (pretty much!): Target is coming to 14th Street and Avenue A (55 comments)

More on Target, and a look at its incoming home on 14th Street and Avenue A