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53W53 Developer Plans a Senior Housing Project in Midtown

The 15-story building will provide housing and support for elderly New Yorkers

Hines, the developer behind such high-end Manhattan skyscrapers as Jean Nouvel's MoMA-adjacent 53W53 and the Jenga-esque 56 Leonard Street, is going in a bit of a different direction for its next project. Bloomberg reports that the developer has partnered with health care facilitator Welltower to create a new senior housing building on East 56th Street and Lexington Avenue. The new building, which will rise 15 stories, will replace a TGI Friday's. As Bloomberg notes, the neighborhood is better known for its pricey towers—including 53W53—and indeed, this new building would be only a few blocks from 432 Park Avenue.

The two companies noted that New York's older residents have been "vastly underserved," and that their property hopes to ameliorate that problem. "We expect this project will support a more-connected model for health-care delivery to seniors," an SVP for Welltower said in a statement.