Renaissance Plaza, an 11-story Harlem co-op originally scheduled for July occupancy, will quietly open its doors over the next few weeks, letting a handful of tenants move in prior to the ribbon-cutting ceremony set for October 31.
According to Robert Barletta, spokesman for Queens-based developer Levine Builders, project heads are awaiting final city approvals before embarking on a soft opening of the $60-million apartment building. Mayor Rudy Giuliani is expected to attend the official opening ceremonies October 31, Barletta tells GlobeSt.com.
Residents were selected by lottery at the 241-unit public/private venture, with half the building's one-, two- and three-bedroom apartments going to Harlem residents. Roughly 3,500 would-be occupants are said to have applied at the uniquely financed co-op, in which a combination of tax abatements and a below-market mortgage kept buy-in prices significantly lower than comparable Manhattan co-op housing.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.