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Revitalizing Manhattan's Neighborhoods

NEW YORK CITY-A number of efforts including a residential project in the Fashion District, a housing development in Harlem and a multi-dimensional program in Chinatown are attempting to revitalize some of Manhattan's neighborhoods.

By Barbara Jarvie | Updated on April 15, 2004

NEW YORK CITY-The $150-million Bryant Park Tower, unveiled the other day, is part of an effort designed to bring housing to the Times Square area. The 43-story building, which will house New York City’s first Marriott Residence Inn, with 357 suites, at Avenue of the Americas and West 39th Street, features 96 studio and one-bedroom rental apartments and 8,500 sf of street-level retail space.

“This area needs more residential,” points out Barbara Randall, executive director of Fashion District BID, explaining that recently there has been a shift as manufacturing has diminished in the area. Randall notes that the area, which has also changed from 100% to 50% fashion wholesaling, is in need of zoning changes. “This project should be a shot in the arm,” she says.

Bovis Lend Lease will serve as general contractor and the owner’s representative is CNY Builders LLC. Retail space will be leased by Jones P. Day Realty. The hotel will be managed by Interstate Hotels and Resorts of Arlington, VA and financing for is being provided by Corus Bank and iStar Financial Inc.

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