Demolition is well under way at TF Cornerstone’s 606 West 57th Street.
The 42-story building in the far West Side will have 1,028 rental apartments, with about 205 of those units reserved for residents earning 60 percent of the neighborhood’s median income, according to the New York Observer. There will also be approximately 38,000 square feet of ground-floor retail space, parking for 400 cars and a public pre-kindergarten school.
Demolition of the existing buildings at the site, which include a garage structure and former Lexus dealership, commenced around the beginning of January.
The developer secured a $384 million construction loan for the $550 million project in November, the Observer reported.
The City Council’s Land Use Committee approved the rental project in April 2014 after TF Cornerstone agreed to include a public pre-kindergarten in the building, create a smaller parking garage and use union workers, DNAinfo reported. In addition to the 205 units set aside for people earning 60 percent of Area Median Income, Councilwoman Helen Rosenthal made a deal with TF Cornerstone to add another 10,000 square feet of moderate income housing. These units — about 15 apartments in total — would be reserved for middle-income families earning about $150,000 a year, Capital New York reported.
The anticipated completion date is Spring 2017. Photos from today, during this historical blizzard:
Note the sole construction worker on the roof in the picture below:
Compare to the construction photo from January 3rd:
