Essex Crossing Site 4, 180 Broome St. Rendering by Handel Architects.
The developers of the Essex Crossing mega project have locked in a $200 million loan from Wells Fargo and M&T Bank for their 26-story building at 180 Broome St.
Delancey Street Associates, the group building the 1.9 million square foot project, announced this afternoon that it had closed on a construction loan for the residential, office and retail tower. 180 Broome St. (at Clinton Street) is located on site 4 of the former Seward Park Urban Renewal Area (SPURA).
Construction will begin on the tower later this month. The Lower East Side Partnership just cleared commercial vehicles from a parking lot it managed on site 4 for many years. Construction fencing will start to go up this week. [Traffic will be re-organized around the site to accommodate the new fencing.]
As previously noted, the developers of Essex Crossing will unveil final renderings this week for the first buildings on the former Seward Park urban renewal site (SPURA). It will be the clearest indication yet that the large residential and commercial project is going forward after almost a half-century of contentious debate on the Lower East Side. But even today there is no shortage of opinions about what should happen. One new opportunity to explore the issues around SPURA is coming up this spring. A local architect, David Bench, will be teaching a class beginning next month called, “Lower East Side Architecture: Re-Design Essex Crossing.” It’s offered through the The School of Making Thinking and will take place at Abrons Arts Center Feb. 3-March 31. Here’s the course description:
Essex Crossing Site 2; view from the intersection of Delancey and Essex streets. Credit: Handel Architects.
Crain’s posted a story overnight that touts the use of union labor in Essex Crossing, once the large residential and commercial complex on the former Seward Park urban renewal site is finished. Here’s how the piece leads off:
The developers of Essex Crossing, the massive mixed-use project planned for the Lower East Side, have agreed to staff the complex entirely with union workers, the firms announced Wednesday. BFC Partners, L+M Development Partners and Taconic Investment Partners have inked an agreement with powerful building workers’ union 32BJ SEIU for up to 80 jobs that will eventually be part of the 1,000-unit development. The first phase of the project, where half the units will be affordable, is set to begin this summer. The partnership will also help fund a training program designed to equip area residents with the know-how to apply for many of the posts being
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