Four hundred new affordable apartments are coming to the Lower East Side courtesy of the non-profit group, Grand Street Guild, the Lo-Down first reported. Though the Guild hasn’t yet announced the exact sites for the affordable development, the Lo-Down has learned that it will likely replace the existing parking lot at 178 Broome Street, and a day care center at 151 Broome Street. A replacement garage will be part of the new development.
The project will be comprised of two 15-story towers that can be built as of right. The Guild will make this development fully affordable, and in a press release last week, the group announced its intention to market one of the buildings to seniors, and the other to families.
The Guild, which is an organization formed by the Archdiocese of New York, has tapped Handel Architects to formulate a design plan for the development, which will be presented to local residents in the coming months.
The towers will rise right in the midst of all the development taking place at Essex Crossing; work on this new fully affordable development is expected to get underway sometime in the summer of 2019.