The New York City Economic Development Corp. is looking for a developer to help demolish majority of a block in Hell's Kitchen in Manhattan. The city is looking to put up a mixed-use development in its place.
According to Crain's, the redevelopment will house hundreds of apartments, retail spaces and even a 150,000 square foot facility for a nonprofit organization, which currently owns the existing property.
The city is gearing up to launch its bidding process in search of a developer for two sites surrounded by 10th Avenue, between West 40th and West 41st Streets.
As it turns out, the two development sites could consist of as much as 700 apartment units. The selected developer will definitely face a challenge though, as 40 percent of the total units will need to be affordable.
The winner of the bidding wars will also need to reserve a portion of the block to make way for a future No. 7 train subway station, as well as building a new facility for Covenant House New York, a nonprofit organization that aids homeless adolescents with shelter, and educational and employment programs.
"We see the chance to build a state-of-the-art facility to ensure we can end the waiting lists, and help strengthen the quality of programming we are providing," said Creighton Drury, the executive director of Covenant House New York.
Drury also noted that the organization had to decline as much as 80 people a month because of limited spaces (the nonprofit can currently accommodate only 350 people per night). The institution currently operates in three different buildings on the same block, near 10th Avenue.
Covenant House New York first purchased a series of three buildings back in the 1970s, when Manhattan's West Side and the proximate Port Authority Bus Terminal were still far from the city's prime locations.
Since the assets have become more valuable and desirable, the Covenant House New York is hoping that the new development will give them a new home. In fact, the chosen developer will have to start construction on the nonprofit's home before anything else.
Check out the photo of the property here. The buildings outlined in red are part of the potential development site.
