NEW YORK | 418 11th Ave | FT | FLOORS

[NYguy]

https://www.cpexecutive.com/post/sit...r-development/

Redevelopment Eyed for Site Near Javits Center
The state of New York is seeking proposals for a rare vacant parcel on Manhattan’s Far West Side.






MAR 08 2021
By Beata Lorincz

New York Convention Center Development Corp., a subsidiary of Empire State Development, is seeking proposals for the commercial or mixed-use development of a 1.2-acre site on Midtown Manhattan’s West Side.

One of the last vacant parcels in the area, 418 11th Ave. sits across the street from the main entrance of the Jacob K. Javits Convention Center. The site is in proximity of the High Line, Hudson Yards, as well as the Hudson River Park and waterfront. The Lincoln Tunnel and the West Side Highway are also nearby.

According to a request for proposals document issued by Empire State Development—a corporate governmental agency of the State of New York—it is anticipated that the property, also known as Site K, will be leased to the designated developer under a 99-year term, with purchase options under consideration. The submission deadline is set for May 6.

The proposal is part of Gov. Andrew Cuomo’s $51 billion overall plan for Midtown’s West Side, announced back in January, that encompasses a series of transit improvements—including the renovation of the Port Authority Bus Terminal and Penn Station—as well as new commercial, retail and residential space with affordable units.

CCDC owns the Javits Center and the adjacent property at 418 11th Ave. The convention center is undergoing a $1.5 billion, 1.2 million-square-foot expansion, slated to wrap up this year. Last April, the New York District of the Army Corps of Engineers completed the conversion of the 1.8 million-square-foot convention center into a temporary alternate care facility in the context of the then-emerging health crisis.

Proposals, commercial or mixed-use, can include hotel space, complementary to the facilities within the Javits Center. Plans that comprise a residential component will have to designate 30 percent of units as affordable for residents making 80 percent or less of the area median income.

Bordered by 35th and 36th streets, 11th Avenue and Hudson Boulevard, the site comprises three contiguous tax parcels. Submitted projects will have to accommodate three existing structures on the site: an above-ground MTA ventilation shaft and mechanical building serving the 7 subway line, a ventilation shaft serving the Javits Center and an active below-grade train track owned by Amtrak.