Posted Mar 1, 2013, 11:23 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
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http://online.wsj.com/article/SB1000...844137536.html
Lincoln Square Growing Without a Pause
By GABBY WARSHAWER
February 28, 2013
Quote:
The Upper West Side's Lincoln Square neighborhood has been no stranger to construction over the past decade, a trend that is continuing with a crop of new buildings that will add more than 1,000 rental apartments to the area over the next few years. The neighborhood—usually defined as running from Central Park West to the Hudson River and from 59th to 72nd streets—has seen a raft of high-end condos and rental towers rise mainly in the area west of Columbus Avenue, and the developments now being built are joining that group.
The largest new project is 21 West End Ave., a 43-story, 616-unit rental building on 61st Street that broke ground late last year and will include a four-story public school. The tower is expected to be ready for renters to occupy in mid-2015, with the school opening in 2016.
Dermot Co., which is developing the building in a venture with the AFL-CIO Building Investment Trust, doesn't typically include three-bedroom apartments in its buildings, but they would be part of the design of 21 West End Ave. because of the area's "appeal to families," said Drew Spitler, director of development for New York-based Dermot.
The rental tower is the first element in the planned Riverside Center complex between 59th and 61st streets, which is slated to have five buildings and have 2,500 units of housing when complete.
A couple blocks away, another large, luxury rental is rising: A 54-story, 339-unit building at 160 W. 62nd Street, on the corner of Amsterdam Avenue. New York-based Glenwood Management, which is developing the building, also intends to break ground this year on a parcel it owns a couple blocks away, at 175 W. 60th St., where the company will construct a 48-story, 257-unit rental.
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21 West End Avenue
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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