**Silverstein, Metro Loft Plan 2,000 Apartments as Part of Avenir Casino Bid**
Silverstein Properties has announced a partnership with Metro Loft Developers to deliver more than 2,000 new apartments through building conversions on Manhattan’s Far West Side. The initiative is tied to their Avenir mixed-use project, which is contingent on securing a casino license from New York State.
Both companies are currently evaluating potential buildings for conversion, with a strategic focus on West Side locations. This approach aligns with the priorities of Community Board 4 and local elected officials, who have identified the production of mixed-income housing as a key community need.
“We are grateful to our local elected officials and Community Board leaders for prioritizing neighborhood housing in this process,” said Tal Kerret, president of Silverstein Properties. “Amid a citywide housing shortage, these conversions will create new homes for over 2,000 families.”
Metro Loft Developers brings three decades of experience in residential conversions across Manhattan. The firm recently collaborated with Silverstein Properties on the transformation of 55 Broad Street, a former Goldman Sachs headquarters, into 571 residential units.
The Avenir development reflects a broader trend of adaptive reuse in urban core cities like New York, where creating new housing through commercial-to-residential conversions is emerging as a vital strategy to address affordability and housing supply challenges.
