New York Governor Kathy Hochul announced on Thursday that the Hudson Boulevard Collective, a partnership between BRP Companies, BXP, The Moinian Group and Urbane Development, has been chosen as the designated entity to develop a $1.35 billion mixed-use project at 418 Eleventh Ave in Manhattan. This site is also known as “Site K” of the Jacob K Javits Convention Center.
This development will be one of the last state-owned parcels in Manhattan and will be permitted to build residential units with a Floor Area Ratio above 12.0 – making it the first project in New York City to do so. The project, named HDSN, will include 1,349 residential units with 404 affordable homes across from the Javits Center.
Governor Hochul stated that this development showcases how smart policy changes can lead to significant affordable housing developments by utilizing new residential density provisions secured in last year’s budget. She believes this project is an excellent example of how well-planned developments can address our housing crisis while creating diverse and inclusive communities.
The article was originally published on Connect CRE.
