After no fewer than seven years in the works, construction is officially on at Soho Properties’s condos coming to 45 Park Place. Soho Properties chief Sharif El-Gamal and a group of cohorts finally placed shovel to ground in an official groundbreaking ceremony on June 2, putting to end a long and windy path to the redevelopment of the former Burlington Coat Factory site.
The site was cleared after demolition permits were filed in April 2014, and since then several renderings for the project have made the rounds. But it seems like the most recent rendering is officially official.
The kick-off on construction of the 50-apartment building comes less than two weeks after Soho Properties secured $219 million in financing for the development. The tower is expected to be complete in 2018.
Soho Properties also owns a neighboring site at 51 Park Place which will give way to a three-story Islamic cultural center designed by starchitect Jean Nouvel. A rep for the project says that a variance allowing the development of a museum is still being sought for the site.
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