A Wall Street Journal article this past weekend confirms that the owners of Lenox Terrace are currently trying to restart a 2003 plan to develop glass towers up to reportedly 28 stories tall between 132nd and 135th Street in Central Harlem. Financing has been the major issue that has prevented the project from moving forward but the possibility of adding six more towers to the 3 blocks between Fifth and Lenox is looking better as the market improves.
One of the crucial factors to note is that rezoning would have to be approved since the existing six buildings are currently at 16 stories and many tenants are worried about their views being blocked. Other changes planned would be converting a parking lot into green space and bringing better restaurants to the area. The Journal also reported that rents in Harlem jump 19% in just the past year and that uptowners are now paying about $2,055 a month on average: LINK
Oh, Oh, let the games begin!
ReplyDeleteInteresting...Inez Dickens will need to make sure that she doesn't alienate the gentrifiers and Harlem's evolving demographics. Not to mention that many old-time Harlemites have now begun to accept and even appreciate the benefits of genetrification.
ReplyDeleteAfter reading the linked article and as someone who used to live at Lenox Terrace all I can say is that the opposition wreaks of selfishness. They rent and are demanding views like they own the place. When I lived at Lenox terrace I would have welcomed these developments with open arms. Better retail, more people around less crappy places to eat, fewer places for those criminals to hang out wow, instead you get these folks yapping about overcrowding etc.
ReplyDeleteI hope that Olnick gets what they are after, however they should endeavour to not raise the rents outrageously, on that I agree with the tenant association.
Harlem BBC ... Agreed! I am Not opposed to rent stabilization but it should not confer the rights of ownership ... Otherwise you give people all of the privileges of ownership and none of the responsibilities. Not to mention that a number of high profile people who live in Lenox Terrace should not qualify for rent stabilization in the first place. This is typical old school Harlem politics at play
ReplyDeleteAn older design is up on davisbrody.com, with interesting lower buildings and kind of chunky taller ones.
ReplyDelete