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AvalonBay Staking Out 'Divine' Uptown Rentals

Taking a page from the hymnal of Chelsea's General Theological Seminary, the perpetually-under-construction Cathedral Church of St. John the Divine is looking to raise some much-needed cash by inking a 99-year lease for a portion of its "Close" with none other than AvalonBay Communities, the reigning king of Chrystie Place. Look for a 20-story apartment building with 300 market-rate rental units (about $40 a square foot in annual rent) and a 150-car garage to go up on the steep rocky corner of Cathedral Parkway and Morningside Drive, currently fenced off with the finest in chain link.

The Times quotes opponents bemoaning "a triumph of corporate capitalism," "a cognitive dissonance no matter what the architectural style of the new development," and blocked views of the cathedral for denizens of "Manhattan Valley" to the south. We couldn't find any detailed rendering of the plan, so David Dunlap's mellifluous word paintings will have to suffice for now.
· Deal Close on Apartments Near Cathedral [NYT]

[Cathedral photo via Starts&Fits]