Target’s seemingly unstoppable expansion continues in New York City. This week the chain announced that it will lease a 22,500 square foot space at Essex Crossing’s 145 Clinton Street development, the Wall Street Journal first reported.
145 Clinton Street, a.k.a. Site 5 of the Essex Crossing megaproject will also be home to a Trader Joe’s. The 15-story building is designed by Beyer Blinder Belle and features a total of 211 apartments, half of which are affordable. The lottery on those—the first affordable lottery launch for Essex Crossing—took place in early March.
The space Target is leasing was once set aside for Planet Fitness, but the gym has since backed out, according to the Lo-Down, allowing Target to swoop in. The store will be located on the second floor of the building and will be one of the mega-chain’s small format locations (stores that range in size from 12,000 to 60,000 square feet), according to the WSJ.
When the store opens in March 2018, it will be Manhattan’s fourth location following ones in Harlem, Tribeca, and the soon-to-open location across from Macy’s in Herald Square (it will open in October this year). New Target stores are also set to open in the East Village (July 2018) and Hell’s Kitchen in the next two years. This is not to mention the little over half a dozen stores the chain currently operates outside of Manhattan in the city.
The Delancey Street Associates-developed Essex Crossing megaproject is being built at a cost of $1 billion and includes residential, commercial and community space spread between nine sites over six acres of land.
Delancey Street Associates is a joint venture of BFC Partners, L+M Development Partners and Taconic Investment Partners, along with an additional partner, the Prusik Group.
“Throughout the planning process, the community made clear that a quality, affordable apparel and home goods retailer was a top priority for the neighborhood; we made a commitment to deliver that," S. Andrew Katz, a Principal at the Prusik Group, said in a statement. “With Target, Trader Joe’s, Splitsville Luxury Lanes, Regal Cinemas and NYU Langone’s medical center all slated to open next year, 2018 will be a banner year for Essex Crossing’s commercial spaces and really bring the site to life for the community.”
UPDATE 5/1/2017: In addition to the Lower East Side store, Target will open another small-format store in Jackson Heights, part of the new Shoppes at 82nd Street street development. The 22,700-square-foot space won’t open until 2019, but it will be one of 130 new small-format stores the company plans to open nationwide in the next few years.