The developers behind the Lower East Side megaproject, Essex Crossing, have revealed the first rendering for their second, fully-affordable senior housing building, which will rise at 140 Essex Street.
Designed by Beyer Blinder Belle, the building will stand eight stories tall, and bring 92 studio apartments to the Lower East Side. The apartments will be open to seniors making between zero to 60 percent of the area median income, or individuals earning up to $40,000 per year.
140 Essex Street originally housed a portion of the existing Essex Street Market, but in recent years it has been home to the Lowline Lab, which shuttered at the end of February this year.
Construction on the senior affordable building is set to get underway in just a few weeks, and the building, which is located at Essex Crossing Site 8, will likely be complete sometime in 2019.
This is the second senior affordable building to be developed as part of the megaproject. The first, at 175 Delancey Street, launched the lottery on its 99 affordable apartments in April this year, and will welcome its first set of residents next year.
140 Essex Street was initially supposed to be a 80/20 condo building, but earlier this the development consortium behind the megaproject, Delancey Street Associates, decided to add more affordable housing into the mix. Now Essex Crossing will bring a total of 561 affordable apartments to the Lower East Side, part of a total 1,078 units that make up the Essex Crossing project.
140 Essex Street will also have 9,600 square feet of ground floor retail, and residents in the building will be able to access the senior center which will open at 175 Delancey Street next year. Work on 140 Essex marks the beginning of Phase II of the megaproject; several buildings within Phase I will open next year.