NYCEDC and HPD Announce Release of Request for Proposals to Develop 1.65 Million Square Feet of Mixed-Use Real Estate on Manhattan’s Lower East Side.
Development of Fully Approved Site Will Fill Gap in Urban Fabric That Has Persisted for 45 Years; Creating 1,000 Housing Units, Hundreds of Thousands of Square Feet of New Commercial Space, 1,000 Permanent Jobs and 5,000 Construction Jobs.
New York City Economic Development Corporation (NYCEDC) and Housing Preservation and Development (HPD) announced the next major step in transforming the largest parcel of under-developed City-owned land in Manhattan below 96th Street into vibrant, mixed-use space in one of New York’s most dynamic, diverse and historic neighborhoods. With the release of a Request for Proposals (RFP) today, nine sites located near the intersection of Essex Street and Delancey Street are on their way to becoming a 1.65-million-square-foot development including 1,000 units of housing with half of the units being permanently affordable. In addition, the RFP calls for new commercial space, a new and expanded Essex Street Market, open space, and the potential for a school and other community space. The development will create approximately 1,000 permanent jobs and 5,000 construction jobs.
The press release can be found here.
For additional information please contact:
Patrick Muncie/Kyle Sklerov (NYCEDC) 212-312-3523
Eric Bederman (HPD) 212-863-5176