The tower crane stump and installed foundations can be seen at 225 N Elizabeth Street, set to give way to a new 28-story, 314-foot building in Fulton Market District. Developer Sterling Bay and partnering private equity firm Ascentris are behind this mixed-use project, which will provide 350 new apartment units atop ground-level retail.
The units will be broken up into the following 66 studios, 46 convertibles, 140 one-bedrooms, 92 two-bedrooms, and six three-bedroom floor plans. Regarding affordable units, 70 of the on-site units will be allocated for residents making up to 60 percent of the area median income (AMI). Amongst these units, there will be 13 studios, nine convertibles, 28 one-bedrooms, 19 two-bedrooms, and one three-bedroom.
The third-floor pool deck with a dog run and interior common areas will be available to residents, while the top floor will feature an outdoor skydeck and indoor lounge. The project will include a 95-vehicle garage and a 199-bicycle storage room, both of which can be accessed from Elizabeth Street. The retail portion of the project will be located on W Fulton Street.
The design for the industrial-inspired building is by Hartshorne Plunkard Architecture. The exterior glass facade will be lined with rows of balconies as well as both horizontal and vertical metal beams to add texture. This grid will extend up past the roofline and form part of the amenity penthouse.
For public transit, the closest L stop for the Green and Pink Lines is Morgan station, which is an eight-minute walk to the east. Those taking the bus will find stops for Routes 8, 9, X9, and 20 all within a 10-minute walking distance.
McHugh Construction is now the general contractor for the underway high rise that is projected to cost $110 million. A targeted completion date has been set for 2024.