The New York City Economic Development Corp. is seeking a developer to knock down most of a Hell’s Kitchen block to make way for a massive mixed-use development.
The city released a request for proposals (RFP) on Wednesday, launching a project that could bring 700 apartments — 40 percent of which would be designated affordable — retail space and a new 150,000-square-foot facility for Covenant House New York, a nonprofit that helps homeless youth.
The project consists of 780,000 square feet of development rights across two sites, which are bounded by 10th and Dyer avenues and West 4oth and 41st streets, according to the RFP. The selected developer will also have to set aside part of the site for a future No. 7 subway station, Crain’s reported.
Covenant House owns three buildings on the block, and the developer must agree to build the nonprofit a new facility before it begins construction on housing. The city will also need to acquire a vacant building that is adjacent to the Covenant House properties before a developer can plan to build on both sites.
Bids for the project are due by May 2. [Crain’s] — Kathryn Brenzel
Source: The Real Deal