The conversion of an old TGI Friday’s in Midtown into ultra-luxury senior housing is becoming a reality. Last year the development firm Hines, also behind Jean Nouvel's tower at 53 West 53rd Street, announced a partnership with the health-care facilitator Welltower to bring a senior housing facility to the site, which currently has an address of 677 Lexington Avenue. Now, the firm has filed DOB plans to start up construction.
Plans show the building, designed by SLCE Architects, will rise 17 stories and hold 151 units. Previous reports of this project revealed that the apartments will be "inspired by classic Park Avenue apartment houses," many with their own private terraces.
Other building amenities, according to the plans on file, will include a salon, a ground-floor outdoor plaza, an exercise facility, an art room, and a top-floor terrace.
Rooms at the private facility—not covered by insurance—are expected to rent for as high as $20,000 per month. Those prices have earned this project a reputation as the 'One57 of assisted living facilities.'
As a Wall Street Journal article on the project pointed out, Hines is betting on a growing number of well-off seniors deciding to stay in, or move to, NYC. The city's population of people over age 60 is expected to rise to nearly 2 million by 2040.